Minister of Industry, Investment and Commerce, Hon. Karl Samuda, says the private sector needs to speak with one voice, as it seeks to strengthen its partnership with the Government, in order to make Jamaica a place of choice to do business.
Mr. Samuda was speaking at a panel discussion on the findings of the joint World Bank/International Finance Corporation (IFC) publication, ‘Doing Business 2010: Reforming through Difficult Times’, held at the Hilton Kingston Hotel, today (October 1).
“I would like to see the private sector come together, I’d like to see them cut out the petty bickering…I would like to see them understand that we have to work together today more than ever before. This is the only way that the private sector is going to be able to, when we sit together as Government and private sector, speak in a manner that Government officials can leave with a feeling that yes, the folks with whom they are speaking understand the issues, and are willing to work together in a collective way,” the Minister argued.
Minister of Industry, Investment and Commerce, Hon. Karl Samuda (right) greets Marketing and Customer Service Manager at Jamaica Freight and Shipping Company Limited, Christine Johnston (left); while Director of Mayberry Investments Limited, Sushil Jain, shares the moment. Occasion was today’s (Oct. 1) forum on the findings of the joint World Bank/ International Finance Corporation (IFC) publication, ‘Doing Business 2010: Reforming through Difficult Times’, at the Hilton Kingston hotel.
He emphasised that understanding the issues is critical, and that all private sector leaders must arm themselves with the appropriate information, “so that when we speak, we speak from a basis of knowledge, from a basis of empirical data, and to have a better appreciation of the challenges we face as administrators of the country.”
In his remarks on the question of what Government needs to do to earn the trust of the private sector, President of the Jamaica Manufacturers’ Association, Mr. Omar Azan, said that the Government should keep the private sector abreast of daily developments, so that players can better guide their businesses.
He added that there also needs to be greater unity between Opposition and Government in looking after the country’s affairs.
Minister of Industry, Investment and Commerce, Hon. Karl Samuda (left) confers with Special Representative of the World Bank in Jamaica, Dr. Budrul Haque, during a forum held at the Hilton Kingston Hotel today (Oct. 1) on the findings of the joint World Bank/ International Finance Corporation (IFC) publication, ‘Doing Business 2010: Reforming through Difficult Times’.
‘Doing Business 2010’, which ranked Jamaica 75 out of 183 countries, for its ease of doing business, was launched seven years ago. The annual publication provides an objective basis on which countries can understand and improve the regulatory environment for business. It began with five indicator sets in 133 countries, and now has 10 indicator sets in 183 countries.
These indicators include: starting a business; dealing with construction permits; employing workers; registering property; getting credit; protecting investors; paying taxes; trading across borders; enforcing contracts; and closing business. The indicators, in a broad sense, look at the regulatory cost of business in the economies surveyed and can be used to analyse specific regulations that enhance or constrain investment, productivity and growth.