PM Reaffirms Pivotal Role of Private Sector in Regional Development
By: , July 8, 2025
Photo: Yhomo Hutchinson
Jamaica's Prime Minister and Chair of CARICOM, Dr. the Most Hon. Andrew Holness (left), is greeted by President of the Private Sector Organisation of Jamaica (PSOJ), Metry Seaga (third left), at the CARICOM Business Forum Breakfast, held at Sandals Montego Bay in St. James, on Tuesday (July 8). Observing (from left) are Executive Chairman of Sandals International, Adam Stewart, and Chairman of the CARICOM Private Sector Organisation (CPSO), Gervase Warner.The Full Story
Jamaica’s Prime Minister and Chair of CARICOM, Dr. the Most Hon. Andrew Holness, has reaffirmed the pivotal role of the private sector in driving regional development and economic transformation across the Caribbean.
Addressing a CARICOM Business Forum hosted by the CARICOM Private Sector Organisation (CPSO) and the Private Sector Organisation of Jamaica (PSOJ) at Sandals Montego Bay in St. James, on Tuesday (July 8), Dr. Holness pointed out that the region’s transformation “is not possible without the private sector”.
He cited the evolving perception of the business community in the region, outlining that the history of the Caribbean has been ambivalent about its private sector.
“[However], I am happy to say that, certainly in the last decade, there has been a closer embrace of the private sector as partners,” Dr. Holness said.
“Our job is to facilitate and our job is to make the playing field level and to give you a good wicket on which you can go and make your own,” he added.
The Prime Minister described the current global landscape as volatile and fragmented, noting that there are several disruptions.
“We are operating in a global environment marked by persistent volatility, rising protectionism of all kinds… disruptions of all kinds, including climate-related disruptions, geopolitical tensions and economic fragmentation,” Dr. Holness outlined.
As such, the Prime Minister urged leaders across sectors to act with purpose and collaboration.
“We must act in a more coordinated and collaborative manner, drawing on the full capabilities of both public and private sectors. No government can respond alone and no business can thrive in isolation. This is a shared agenda that demands shared action,” he noted.
“The centre of that shared agenda is the CARICOM Single Market and Economy, the most important framework for achieving regional collaboration and strategic cooperation,” the Prime Minister said.
Dr. Holness encouraged the Caribbean community to recognise the strength of unity across the region.
“Yes, individually our economies are small but, collectively, the sum of our parts is greater than the whole,” he pointed out.
The Business Forum was held as part of the 49th Regular Meeting of the Conference of Heads of Government of CARICOM, being held from July 6 to 8.