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‘Business at the speed of thought’
Prime Minister Andrew Holness greets Marlene Street Forrest, managing director of Jamaica Stock Exchange, at the opening of the 20th staging of the Jamaica Stock Exchange Regional Conference on Investments and Capital Markets on Tuesday. The three-day event is being held at Jamaica Pegasus hotel in New Kingston. (Photo: Garfield Robinson)
News
Karena Bennett | Senior Business Reporter | bennettk@jamaicaobserver.com  
January 23, 2025

‘Business at the speed of thought’

Holness establishes task force to cut bureaucracy

Prime Minister Dr Andrew Holness has moved to fulfil his pledge to streamline Jamaica’s notoriously cumbersome bureaucracy with the announcement of a Speed Task Force, an initiative that forms part of his broader ASPIRE Jamaica framework.

Speaking at the Jamaica Stock Exchange Conference on Tuesday, Holness declared that the task force would overhaul inefficient government systems, improve ease of doing business, and accelerate economic growth. The announcement comes against the backdrop of an election year.

“We’re the country of the fastest man alive,” Holness declared. “We must translate that speed on the track to the speed of doing business. To drive this transformation, I will appoint the Speed Task Force.”

Holness first signalled his intent to tackle bureaucracy in a policy address last November and reiterated the commitment at the Jamaica Labour Party’s 81st annual conference. At both events, he decried the crippling effects of red tape, describing how excessive compliance requirements have stymied investment, delayed infrastructure projects, and frustrated citizens.

Describing bureaucracy as a once-praiseworthy structure, Holness said that it has become a drag on national progress.

“Bureaucracy wasn’t always a bad word — it was essential for running empires. But over time it has grown self-serving, more focused on compliance than results,” he said.

“Many current approval, permitting and regulatory processes were designed during a period of fiscal constraint, that’s the reality. With our debt-to-GDP ratio now significantly reduced, it is time to streamline these systems. We will simplify approvals, reduce wait times and eliminate outdated barriers and unnecessary layers of bureaucracy,” he reasoned.

The Speed Task Force, set to launch by the end of February, will tackle the inefficiencies head-on by identifying bottlenecks, streamlining processes, and delivering practical solutions within defined timelines. Whether through a single team or a rotating group of focused individuals on specific areas, Holness said the mechanism will ensure Jamaica’s business environment meets world class standards.

“We are aiming for business at the speed of thought,” he said.

Holness’s urgency to reform the business system is rooted in stark economic realities. With growth averaging less than one per cent per year over the past decade, Jamaica’s economic performance remains lacklustre. Coupled with the country’s vulnerability to external shocks, including climatic events, Holness argued that transformative action is needed to achieve national development goals.

“There is a close and circular relationship between the cost of doing business and the cost of living. When we improve the ease, speed, and cost of doing business, efficiency gains allow businesses to lower prices for customers.

“Conversely, inefficiencies, low bureaucracy, and higher taxes or fees raise the cost for businesses, which are eventually passed on to consumers as higher prices…every reform and bottling removed contributes to a more prosperous, equitable, and inclusive Jamaica,” Holness said.

Central to the reform is a digital transformation of government services, including business registration, tax filings, and permit approvals, as well as the roll-out of the National Identification System.

While the proposals appear robust, their proximity to an election has not gone unnoticed. The prime minister, however, pushed back on the notion of electioneering, insisting that his Government remains committed to fiscal prudence and responsible growth.

“Let me be clear, this pivot to growth does not in any way mean that we are going to abandon fiscal prudence. I have to say that, because I don’t want any misinterpretation. We will never go back to the days of ‘run wid it’, not under my watch,” Holness said, a reiteration of the Administration’s position he had outlined last November.

“We have worked too hard and sacrificed too much as a country to ever go back to that. Good fiscal management and macroeconomic stability are now business as usual for my Administration,” he continued.

The Speed Task Force is only one component of Holness’s growth agenda, which also prioritises economic diversification and workforce development. He challenged Jamaicans to think beyond traditional economic pillars and advocated investment in renewable energy, advanced manufacturing, and high-value services. He also emphasised the importance of retaining local talent, citing the need to reverse the brain drain that has seen Jamaica’s brightest minds leave for opportunities abroad.

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