Gov’t to Partner with Private Sector on Infrastructure Investments

Prime Minister Portia Simpson Miller says that the Government has embarked on the implementation of a framework for public-private partnership as a strategy for mobilizing investments for needed infrastructure projects such as roads and bridges, rail network, ports, factory space, housing and other supporting facilities.

Delivering the keynote address at the Jamaica Stock Exchange’s 8th Regional Conference on Investments and the Capital Markets on Wednesday (January 22) at the Jamaica Pegasus Hotel the Prime Minister noted that the strategy is a part of the development agenda to secure the economic wellbeing of all Jamaicans.

The other strategies include carrying out tough economic programmes to stabilize the economy; aggressively pursuing projects which are currently in progress, protecting the vulnerable in an efficient, effective and compassionate way in order to move as many people from welfare to work and wealth creation and; renewing efforts to make public service more responsive to the needs of the public within our available resources.

“Attaining developed nation status is our destiny. If we do things in good faith and to the best of our collective abilities as one Jamaican family, I have no doubt that we will move Jamaica in quantum steps towards developed country status over the next 50 years,” Mrs. Simpson Miller said.

The Prime Minister also outlined the Government’s commitment to implementing the Reform Agenda for business which is intended to cut bureaucracy and to remove the impediments to investment and growth adding: “We are constructing new platforms for partnerships and growth to support the profitability of business.”

Among the reforms mentioned by the Prime Minister were the resuscitation of a National Competitiveness Council (NCC) which has overarching responsibility to improve the business environment and the protection of investors by implementing a more investor-friendly climate through reform of the bankruptcy process.

“My Government will take modern Insolvency Legislation to our Parliament. We are committed to a legislative framework that encourages entrepreneurship or risk taking as the basis for new business formation and dynamic business environment,” the Prime Minister concluded.