KINGSTON, Jamaica – Prime Minister Andrew Holness today announced Michael Lee Chin’s appointment as the country’s growth czar.

He will chair Economic Growth Council (EGC) that will be set up to advise the Government of Jamaica (GOJ) on the adoption of a framework of “Growth Initiatives” designed to facilitate and catalyse economic growth.

A news release from the Office of the Prime Minister said upon adoption of the Growth Initiatives by the government, the EGC will be tasked to monitor and report on the progress of the implementation of these initiatives.

The release said the Growth Initiatives, once adopted, will be published and will remain in the public domain by clear actions and plans.

The specific duties and responsibilities of the EGC as outlined in the release are:

• To advise the GOJ on a framework of proposed initiatives along with sub-initiatives that are expected to yield economic growth. In so doing, the EGC is expected to engage in wide consultation and to take into account, and build on, previous work done in this area;

• To agree with the GOJ on the final framework of Growth Initiatives to be adopted, from among those proposed by the EGC, along with a timeline for implementation;

• To receive update reports from Ministries, Departments and Agencies (MDAs) on the Growth Initiatives and to monitor their progress in achieving implementation of these Initiatives;

• To support the MDAs in the implementation of the Growth Initiatives, as required;

• To update the prime minister on progress in attainment of the Growth Initiatives and to raise concerns as required.;

• To report on a quarterly basis to the Jamaican people on the progress of attainment of the Growth Initiatives;

• To support the GOJ in securing investment for Jamaica.

The release said the establishment of the Economic Growth Council with Lee-Chin as chairman reflects the Government’s determination to put the growth of the economy and job creation at the centre of its administration.

On announcing the appointment, the prime minister remarked: “The Government intends to place a concerted effort on economic growth and the creation of jobs. These are urgent priorities. The appointment of the Economic Growth Council signifies our commitment to these priorities. We expect that Mr Lee-Chin’s leadership of the EGC will introduce dynamism and unconstrained thinking to the process of growth policy formulation. ”

In accepting the appointment Lee-Chin said, “I am honoured to accept this appointment and responsibility. We are a country of immense potential with an abundance of opportunity. I will dedicate myself to ensuring that Jamaica maximises on its opportunities and achieves its economic potential.”

The OPM said the EGC will comprise private and public sector leaders who have exhibited a strong commitment to national development.

The other members of the council ware to be named shortly, OPM said.

Lee-Chin is the founder and chairman of Portland Holdings and majority shareholder in the National Commercial Bank. The release said he is widely regarded as a “visionary entrepreneur” and one who has inspired many through his philanthropic initiatives.