Jamaica Must Boost Productivity to Compete Globally
Prime Minister Dr. Andrew Holness has reaffirmed the government’s commitment to increasing national productivity and maintaining strong fiscal discipline as key strategies for ensuring Jamaica’s long-term competitiveness in the global economy.
Speaking on Wednesday (April 23, 2025) at the Parnassus Irrigation Project opening ceremony, Prime Minister Holness said economic independence remains a fundamental principle of his administration.
Dr. Holness noted that Jamaica, while no longer categorized as highly a indebted country, still faces vulnerabilities from global economic shocks.
However, the Prime Minister highlighted that unlike in previous decades, Jamaica is now better positioned to withstand these disruptions due to sound fiscal management.
“We have remained committed to driving down the debt so that when the global shocks occur, which they will, Jamaica will be able to withstand those global shocks. And the impacts on you and your life will be minimized. So, Jamaica is totally different today than it was 40, 50, 30, even 20 years ago,” he stated.
This commitment making the economy resilient and reducing debt has not wavered.
The administration has focused on long-term stability by implementing policies that foster resilience without compromising financial sustainability.
Alongside debt management, the Prime Minister emphasized the importance of building infrastructure that supports productivity and climate resilience.
Dr. Holness pointed to projects like the Parnassus Agro Park in Clarendon, where 700 acres of former sugar cane land are being repurposed for agricultural development.
Of that, 400 acres have been specifically allocated to small farmers, demonstrating the government’s dedication to inclusive growth.
Prime Minister Holness also addressed the need to improve the country’s regulatory environment, which he described as the next stage of government policy.
Dr. Holness outlined that by streamlining bureaucracy and enhancing efficiency, Jamaica can create a competitive edge in the global marketplace.
“If Jamaica is to compete in its peer group, the way in which our intellectuals and some of our public opinion leaders think about our society will have to change and understand that what they held sacrosanct a decade ago does not hold today. We must be agile. We must become efficient. We must become more productive. And we must become more peaceful as a people. And that is what this administration is driving for,” said the Prime Minister.
Dr. Holness also called on Jamaicans to embrace innovation and change.
In the meantime, Prime Minister Holness emphasized that Jamaica’s future depends on the ability of our adaptability, discipline, and consistent performance.
Dr. Holness said his administration, is not only making promises, but it is also delivering results through action, ensuring that development reaches all Jamaicans, and the nation continues its trajectory toward growth, resilience, and economic independence.