PM Holness unveils SPEED task force to boost ASPIRE Jamaica policy

Prime Minister Andrew Holness says a task force, dubbed SPEED will be implemented by the end of February to drive transformation under the ASPIRE growth policy he launched last November.

The Prime Minister made the announcement on Tuesday evening while delivering the keynote address at the Jamaica Stock Exchange20^th Regional Investments and Capital Markets Conference at the Jamaica Pegasus Hotel in Kingston.

“SPEED is aimed at streamlining processes for efficiency and economic development,” Holness told the audience of local, regional and international financial players.

He said the task force will “identify bottlenecks, recommend actionable solutions and deliver tangible outcomes within specified timelines, whether through a single team or a rotating group of focused individuals on specific areas.”

“The mechanism will ensure Jamaica’s business environment meets world-class standards. We are aiming for business at the speed of thought,” the Prime Minister said.

Holness was speaking against the background of improving the ease, cost and speed of doing business, one of the six pillars under the government’s new policy direction for growth, dubbed ASPIRE Jamaica.

ASPIRE is the newest chapter in Jamaica’s economic transformation, the Prime Minister said at its launch, given that the country has attained macro-economic stability, with the debt to gross domestic product (GDP) ratio significantly reduced.

“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 We will simplify approvals, reduce wait times and eliminate outdated barriers and unnecessary layers of bureaucracy.  

“This effort befits not only large investors but also micro, small and medium-sized enterprises. Efficient government processes will also make it easier and faster for citizens to interact with public agencies,” he said.