GROUP Chief Executive Officer of GraceKennedy Limited and Chairman of JAMPRO (Jamaica Promotions) Senator Don Wehby is the chair of Government’s new National Investment Policy (NIP) steering committee.

Minister Without Portfolio in the Ministry of Economic Growth and Job Creation Daryl Vaz made the announcement yesterday during his contribution to the 2017/18 Sectoral Debate at Gordon House.Vaz said that Senator Wehby’s committee will guide the NIP process, and ensure full engagement and input of all stakeholders.The minister also told the House that the Economic Growth Council (EGC), which he introduced in his sectoral debate presentation last year, has also been meeting its commitmentsHe noted that last year, the EGC recommended to Cabinet eight growth initiatives and 112 policy recommendations aimed at removing various obstacles to economic growth.“The successes are evident as these growth initiatives are being included in the strategic plans of every minister, department and agency, and the recommendations of the EGC have been incorporated into the Memorandum of Economic and Financial Policies in the current agreement between the Government of Jamaica and the International Monetary Fund (IMF),” he said.Vaz listed among the achievements of the EGC over the past year:• Access to finance through a reduction in the capital requirements for Development Bank of Jamaica (DBJ) guaranteed loans to SMEs, which will result in greater access to capital and positively impact growth:• Assistance in the reduction of Minimum Capital Test for insurance companies, which has the potential to unlock billions of investable funds that could be channelled into productive activities, and the finalisation of the terms of reference for Banking Review;• Implementing the strategy to increase BPO presence in the economy, through the expansion of the skilled human resources required, which has tremendous potential to impact economic growth and employment; and• Forging PPPs to promote confidence in the economy, and an inclusive approach to decision making.He said that it was quite clear from all the recent economic surveys, reviews and the latest IMF assessment, that confidence in the economic management of the country is at a very high level.“I would like to put on record for Hansard, the Government’s full endorsement of the EGC and our appreciation for the time, effort and sacrifice at great personal expense to the 10 members of the EGC chaired by the Hon Michael Lee Chin,” Vaz said.He added that the EGC should be applauded and embraced by both sides of the House, for the sterling contribution over the last year.“The Government is committed to the implementation of recommendations of the EGC, and to give the necessary support to the EGC to enable them to fulfil their mandate,” he added.