Prime Minister, the Most Hon. Andrew Holness, says that the new Administration is targeting the creation of approximately 150,000 new jobs across various sectors.
Mr. Holness made the announcement in his first address shortly after being sworn into office for a second consecutive term by Governor-General, His Excellency the Most Hon. Sir Patrick Allen at King’s House on Monday (September 7).
“We will improve the business climate and invest to improve competitiveness by reforming Customs, develop the national business portal and establish business incubators.
“We will diversify our economy to increase resilience, promote innovations, support youth entrepreneurs and explore opportunities within the green and blue economies. We will support the development of coding, animation, film, logistics and fulfilment, among other sectors, ” Mr. Holness said.
He noted that the Government will mobilise foreign and domestic investment to improve the delivery of public services and promote innovation, while generating employment.
“We will launch and complete public-private partnerships for water treatment and storage, sewerage, garbage collection and infrastructure development. We will list State-owned enterprises on the [Jamaica] Stock Exchange as we have been doing, giving Jamaicans the opportunity to own a piece of these assets. This will create real wealth in Jamaica and help our economy to recover stronger,” he added.
The Prime Minister pledged that the Government will also work to ensure that all Jamaicans have access to financial services.
“We have seen that this is an important requirement for the proper management of the [coronavirus] pandemic. We will pursue the use of low-tiered ‘know your customer’ bank accounts to increase the number of Jamaicans who have access to functional bank accounts,” he said.
Mr. Holness said the Government will mandate, by law, that all lenders should be required to include transparent, understandable, and comparable information in their product listings and documentation, so that customers can easily choose among financial providers.
“We will introduce a national digital payment platform that will allow payments to be made seamlessly, productively, efficiently, and with greater financial inclusion, and security. This will ensure that all Jamaicans have an opportunity to enter into… the formal economy,” he said.