Vision 2030, the national blueprint for development, is just about 11 years away from being achieved, but crucial to its attainment is the full realisation of its purported goals and objectives.

Goal number three and outcome eight of the plan speak to a prosperous economy and creating an enabling business environment, one in which entities can thrive and contribute to the country enjoying developed status within the projected period.

At the Jamaica Observer’s Monday Exchange Peisha Bryan, programme director of Vision 2030 at the Planning Institute of Jamaica (PIOJ), brought the media up to date on what is happening, especially as it relates to creating an enabling business environment.

Bryan noted that regarding this objective there are several priorities that must be met in order to achieve success.

She noted that the State has to “ensure that there is a facilitating policy, create a regulatory and institutional framework for businesses, increase access to capital, and use trade and foreign relations to create an enabling external environment for economic growth”.

With the country now said to be on a path for growth, the need to assess the progress of this powerful goal becomes very relevant, especially now when the business environment of the country is at fever pitch and also when greater focus is being given to small and medium-sized enterprises (SMEs).

The programme director highlighted that in order to move to securing all the intended outcomes of the plan, higher forms of economic development will be of major focus.

“Focus on infinite resources, cultural resources, building strong institutions, human and knowledge capital, [and] strengthen investment promotion and trade facilitation,” she stated.

Bryan further highlighted that in creating an enabling business environment and going forward, focus should not only be placed on efficiency in the labour market. Instead, the process should also include aspects to enhance labour satisfaction, giving attention to areas such as workers’ contentment (salaries), improving the labour environment, and developing the capabilities of SMEs.

“Think of how to twin these with building strong institutions, not only economic institutions. Involve other institutions that support the economy, including those educationally driven. This will improve the quality of our labour force in terms of having the right people in the right jobs,” she said.

An enabling business means that when you think about efficiency you not only think of what is measured, but also inputs, which must also be positively impacted by policies.

“If we don’t move up the global value and supply chain we won’t be able to give our people better salaries. We can’t compete in terms of quantity; we have to do so in terms of quality,” she continued.

The idea in building up this environment is to also ensure the expansion of capacity and knowledge-creation. Knowledge should then not only be theoretical but practical as well.

The Vision 2030 programme director also argued that in thinking of creating this necessary business environment, focus tends to rest heavier on issues such as improving access to capital and similar issues. She was, however, quick to point out that issues concerning the worker is also paramount to the outcome.

“We are also thinking about the kinds of businesses that offer security, give access to pension and those types of things, so that people feel satisfied to stay. In terms of the worker, we are also thinking about their security throughout their life course.”

Bryan, after highlighting and reasoning about all the hopes and intentions of creating an enabling business environment, noted that in terms of achievability under the plan, this goal still remains largely a work in progress.

“We know we haven’t gotten there yet, but the whole idea is that we have done assessments of the environment. We have recognised where we have the gaps and that is why we are making changes, as we notice that some things have not started off smoothly,” she stated.

She also noted that challenges exist and resources are lacking in some areas; however, the action now, as seen with the current policy direction, is to correct all the ills and move to improve the business environment.