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  • For the 2014/15 fiscal year, the Government will be seeking to strengthen the enabling environment for private sector competitiveness.
  • This will be done through the Jamaica Foundation for Competitiveness and Growth.
  • The project will also seek to focus on three complementary areas related to enhancing competition.

For the 2014/15 fiscal year, the Government will be seeking to strengthen the enabling environment for private sector competitiveness, to help Jamaica unleash productivity and growth.

This will be done through the Jamaica Foundation for Competitiveness and Growth, which has been allocated $40 million in the 2014/15 Estimates of Expenditure, now before the Standing Finance Committee of the House.

Focus will also be placed on enhancing competition in the business environment, and facilitating large scale private investment and supporting Small and Medium Enterprise (SME) capabilities and finance.

The project will also seek to focus on three complementary areas related to enhancing competition, facilitating large scale investment and supporting SME capabilities and financing, essential to unleash private sector productivity upgrading and job growth.

A fourth component will finance policy and societal learning through project implementation and monitoring and evaluation.

Anticipated targets for the 2014/2015 fiscal year include: commencing the development of the Logistics Hub Initiative Master Plan; starting an environmental baseline study; conducting a business census; commencing the development of a regulatory framework for design of Special Economic Zones; and providing support to Small and Medium Sized Enterprises.

The project is funded by the International Bank for Reconstruction and Development and is to be completed by March 2018.