Representatives of the Ministry of Industry, Investment and Commerce and its partner ministries, agencies and departments on Wednesday shared a number of initiatives being undertaken over the next year to improve Jamaica’s business environment during the Jamaica Business Reform Forum at the AC Hotel Kingston.

The forum served as a occasion to highlight the Government’s Business Environment Reform Agenda (BERA), which is being implemented by the National Competitiveness Council (NCC). BERA was designed to improve the country’s investment climate and position Jamaica as an even more attractive investment destination, both for foreign and local investors and buyers.

Some of these projects include the Jamaica Single Window Initiative for Trade, which aims to improve the time it takes for companies to process imports and exports. Another initiative, the Jamaica Business Gateway, is geared towards providing businesses with a central platform to conduct transactions such as registering a business, applying for special economic zone status, and paying taxes.

President of the Jamaica Promotions Corporation (Jampro) Shullette Cox noted that, although some of the reforms are not new, they have been in the implementation phase over a number of years due to ongoing consultation with private sector interests. While acknowledging challenges faced with implementing these initiatives, she underscored the Government’s commitment to address them “until Jamaica is viewed as the premier place to do business”.

“These reforms, which are implemented not only by Jampro but by several ministries, departments and agencies, have been changing the way we do business in Jamaica. Improvements in systems and processes, grounded in the passing of modern laws and responsive policies, have created the platform to increase productivity and efficiency of our business operators, as well as the staff of Government entities as they constantly seek ways to serve the business community better,” Cox explained.

“We know for a fact that these reforms — the ones that we’ve done and the ones that are to come — have and will continue to allow businesses to save time, save money and other resources, as companies will be able to focus on their actual business and growing revenue rather than Government bureaucracies. Of course, this will lead to higher productivity, increased employment, bigger company profits, and more earnings for Jamaica as a country,” she continued.

Over the last six weeks, the government partners have also been involved in a national communications campaigned that targets the business community with information on steps they are taking to make doing business in Jamaica easier, faster, better and easier.

The Planning Institute of Jamaica (PIOJ), another partner in the BERA project, is working through the Foundations for Competitiveness and Growth Project (FCGP), a jointly funded project by the World Bank and the Government of Jamaica. Director general of the PIOJ Dr Wayne Henry commented on the BERA initiative in the context of Vision 2030 Jamaica — the national development goals.

“The emphasis on ‘do business’ is very important. This is where Jamaica’s BERA comes into play, as it allows us to enhance the business landscape and make it easier for everyone to do business. This is how we will generate income and provide employment, which further contributes to Jamaica being a country of choice,” he said.

Henry also highlighted that the FCGP was designed to improve the local business environment for increased private sector investment through three components through three major efforts: enhancing competition, facilitating strategic private investments in the form of privatisation and public-private partnerships, and improving the productivity of SMEs.

However, he pointed out that businesses have a role to play in Jamaica’s economic growth, especially with regard to employment.

“If Jamaica is to develop into the country we envision, our people must have jobs and be paid a liveable wage. [So] by funding the BERA, the PIOJ is helping to create the environment for businesses to start up, operate and do well. Thus, they are able to hire and adequately compensate staff, while their tax dollars contribute to the nation’s resources for development benefiting all citizens,” the PIOJ head stated, adding that he looks forward to an increase in business start-ups, an improvement in employment levels, higher profits to be generated and higher foreign exchange inflows as businesses increase exports.