PM Announces Task Force To Improve Speed of Doing Business

Prime Minister, Dr. the Most Hon. Andrew Holness, has announced the establishment of a Speed Task Force that will work to reduce bureaucracy and red tape in the public sector.

The initiative is part of the Government’s broader strategy to foster a more efficient business environment and stimulate economic growth.

“We are determined to end the outdated notion that efficiency compromises quality,” Prime Minister Holness said.

“We are the country of the fastest man alive; we must translate that speed on the track to the speed of doing business,” he added.

Prime Minister Holness was delivering the keynote address at the Jamaica Stock Exchange Investments & Capital Markets Conference, held at The Jamaica Pegasus hotel in New Kingston on Tuesday (January 21).

The Speed Task Force will focus on identifying bottlenecks within existing processes, recommending actionable solutions and delivering tangible outcomes within specified timelines.

The Prime Minister said the task force, which is expected to be in place by the end of February will operate with urgency, aiming for significant improvements.

“The time is now,” he declared, highlighting the need for immediate action.

“Whether through a single team or a rotating group of focused individuals on specific areas, the mechanism will ensure that Jamaica’s business environment meets world-class standards. We are aiming for business at the speed of thought,” he pointed out.

To support this initiative, Prime Minister Holness said there is need for a legislative overhaul to create an efficient bureaucracy that supports rather than hinders business.

“We have spent a lot of years, in the last decade, putting in all kinds of new legislation and have layered, very thickly, regulations which may not all be relevant or properly aligned; it needs to be rethought; it needs to be re-engineered,” he contended.

He noted that many of the existing approvals and regulatory processes were established during times of fiscal constraint and are now outdated.

With Jamaica’s debt-to-GDP ratio now significantly reduced, it is time to streamline these systems for greater efficiency, he argued further.

Prime Minister Holness reiterated his commitment to improving the ease and cost of doing business in Jamaica.

“We aim to become the most business-friendly and citizen-focused country in the region,” he said.

“We will simplify approvals, reduce wait times, and eliminate outdated barriers and unnecessary layers of bureaucracy. This effort benefits not only large investors but also micro, small, and medium-sized enterprises,” he pointed out.

“Efficient government processes will also make it easier and faster for citizens to interact with public agencies,” the Prime Minister added.