Gov’t and PSOJ agree to deepen partnership for business growth
KINGSTON, Jamaica — Officials of the Ministry of Industry, Investment and Commerce (MIIC) and the Private Sector Organization of Jamaica (PSOJ) met this week to discuss their continued cooperation on improving the local business infrastructure to promote the growth of investment and commerce in the country, particularly given the ravages of the novel coronavirus.
The parties said the meeting, held at the ministry’s St Lucia Avenue office on Tuesday, explored areas such as expeditiously building out a vibrant local framework that supports e-commerce, the need to digitise to optimise Jamaica’s recovery from COVID-19, improving the ease of doing business locally, impediments to cross-border trading for local businesses especially for micro and small businesses, among others.
At the meeting, Industry, Investment and Commerce Minister, Audley Shaw reiterated the government’s commitment to working with the private sector to address the issues that affect local industries as government seeks to boost business growth.
“We are very keen on how we can work together to make things happen. We have to begin to grow the economy. We have to get back to an average of six per cent growth per year. That is the kind of thinking we need now. We did it before and we can do it again,” Shaw said.
President of the PSOJ, Keith Duncan noted that the association has identified several key areas in which it hopes to deepen its partnership with the government.
“Trading across borders has been a long-standing issue in terms of how onerous and costly it is and if we are going to get value-added growth toward import substitution and otherwise, we are going to have to focus around this area,” Duncan said.
The minister noted initiatives such as the National Business Portal and the National Security Interests in Personal Property Registry (NSIPP) which have been implemented as part of the government’s response to the needs of the business community.
Additionally, the National Investment Policy — the framework that the GoJ has for attracting investments both locally and from overseas, has also been approved by Cabinet, Shaw said.
Chief technical director of MIIC, Michelle Parkins, urged the PSOJ to have its members add their voices to the national consultations on the National Investment Policy as the government and private sector work to improve the platform for business growth.
State minister within MIIC, Dr Norman Dunn commended the PSOJ for the role it has played over the years and stressed the renewed thrust of the government to eliminating red tape that stymies business growth.
“We need to double our efforts in what we have done and are doing to ensure we achieve the objectives we have set and to ensure that Jamaica benefits,” Dunn said.