S&T Key to Economic Growth

Minister of Industry, Technology, Energy and Commerce, Phillip Paulwell, has said that the development of science and technology (S&T) was key to economic growth and Jamaicans should be more adept at using S&T to improve the “special conditions within the society”.
“As a country, we face a number of challenges and indeed opportunities competing in this global and regional marketplace. As a nation, we are not only limited by our relatively small size, but have to contend with the comparatively limited number of professional and material resources. We have to ensure that science and technology are used as tools to serve the special conditions within our society,” he stated.
He was addressing the launch of Science and Technology Month yesterday (Oct. 31) at King’s House.
According to Minister Paulwell, “in this new environment, it is indeed our capacity to innovate that will really count as we seek to become more competitive and to participate on a grander scale in the Caribbean Single Market. If we fail to develop the necessary accelerations, then we run the risk of being left behind”.
He noted that the government has recognized the importance of S&T to the nation’s development, and as such, has implemented a number of projects and programmes. “Currently, we are supporting some seven projects under the Technology Investment Fund. This fund was established to finance investments in commercial activities, which contain new or substantial technological improvements,” he informed.
In addition, he said, the government had provided tax incentives for research and development projects, “setting the stage for innovation and increased productivity and efficiency in the manufacturing and service industries. It is a clear indication of our commitment”.
“Up to October 30, some nine projects have benefited from this tax incentive scheme. Under this scheme, projects involved in research and developmental activities qualify for general consumption tax and customs duties exemption for the purchasing of goods, equipment and chemicals,” Minister Paulwell informed.
The Technology Minister noted that S&T should no longer be regarded as an appendage to other activities or subject. “Today, it must be seen as being of central importance to our economy and wealth creation, and in many areas of the society, science and technology will have a major role in providing solutions to the problems that we face”. Governor-General, His Excellency the Most Hon.
Professor Kenneth Hall, who read the proclamation declaring November Science and Technology Month, urged Jamaicans to support the activities of the Scientific Research Council to mark the observance.
He noted that S&T was important for economic development, environmental sustainability, social harmony and the eradication of poverty.
“The optical coordination and management of all aspects of science and technology will enhance culture, ecology, efficiency and harmonization within the various national activities, events and aspirations in the country of Jamaica,” Professor Hall added.
Science and Technology Month will be celebrated under the theme: ‘Science and Technology for Economic Development: Impacting the Caribbean Single Market(CSM)’.