Private Sector Urged to Champion Productivity

  • The private sector is being urged to lead the charge in boosting productivity, driving growth, and accelerating national development.
  • This was the charge from Minister without Portfolio in the Office of the Prime Minister with Responsibility for Efficiency, Innovation and Digital Transformation, Senator the Hon. Ambassador Audrey Marks. She was speaking during the Jamaica Chamber of Commerce (JCC) 40thAnnual Awards Banquet on June 12, at The Jamaica Pegasus hotel in New Kingston. The banquet was held under the theme ‘Shaping the Future: Driving Productivity, Championing Equity, Inspiring Entrepreneurship’.
  • Senator Marks noted that productivity challenges remain a “stubborn barrier” to unlocking the country’s full potential. The Minister explained that, over the past decade, the Government has prioritised debt reduction, inflation control and broader socioeconomic stabilisation—creating an enabling environment for businesses to operate and thrive.
  • She said these efforts have yielded tangible results, including a debt-to-GDP ratio of 68.7%, inflation falling within the Bank of Jamaica’s four to six per cent target range, and a 43.3% decline in murders between January and May 2025, compared to the same period last year.
  • “To achieve that growth, the Government will now have to pivot from stabilisation to GDP growth strategies. We must boost productivity, not by working harder but by working smarter. It’s about integrating technology, upskilling our workforce, streamlining operations, and investing in innovation. This is where the private sector can lead the charge,” the Minister outlined.
  • Senator Marks noted that the second pillar of the theme, ‘championing equity’, challenges stakeholders to confront the entrenched issue of unequal access to opportunities.
  • The Minister also noted that the JCC has spearheaded several initiatives over the years to bridge opportunity gaps for citizens and entrepreneurs – from redevelopment projects in downtown Kingston to partnerships aimed at tackling crime and advancing technology.

(Source: JIS)