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Prime Minister Holness Announces SPEED Task Force to Enhance Economic Efficiency


Prime Minister Holness Announces SPEED Task Force to Enhance Economic Efficiency

“We are the country of the fastest man alive; we must translate that speed on the track to the speed of doing business.”

– Prime Minister Holness

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Prime Minister Dr. Andrew Holness says greater efficiency is needed for economic growth.

Dr. Holness has announced a taskforce to improve and drive Jamaica’s economic efficiency and foster rapid growth.

The taskforce will be known as the SPEED Task Force (Streamlining Processes for Efficiency and Economic Development).

Speaking on Tuesday, (January 21, 2025) at the 20th Regional Investments & Capital Markets Conference hosted by the Jamaica Stock Exchange, the Prime Minister said the new task force will address bureaucratic bottlenecks, streamline approval processes, and ensure Jamaica becomes the most business-friendly and citizen-focused country in the region.

“We are determined to end the outdated notion that efficiency compromises quality. Or put it another way, if it didn’t take long to be done, it wasn’t done well. We are the country of the fastest man alive. 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, Streamlining Processes for Efficiency and Economic Development and we will do that by the end of February.”

The Prime Minister emphasized that outdated approval and permitting systems, designed during a period of fiscal constraints, will now be modernized to match the nation’s improved debt-to-GDP ratio.

Key points of the announcement include:

Establishment of the SPEED Task Force:

  • The Task Force will identify bottlenecks, recommend actionable solutions, and deliver tangible outcomes within specified timelines.
  • It will focus on making government processes more efficient for large investors, MSMEs, and citizens interacting with public agencies.

Digital Transformation and e-Government:

  • Implementation of end-to-end digital systems for business registration, tax filing, and permit approvals.
  • Rollout of e-Government platforms accessible anytime, anywhere, and on any device, to eliminate long lines and excessive paperwork.
  • The foundation of these services is the new digital National Identification System, which has already gone live and will be fully rolled out by early 2025.

Dr. Holness said by reducing red tape and bureaucracy, the Government aims to lower the cost of doing business, which in turn will reduce the cost of living for all Jamaicans.

The Prime Minister also emphasized that every reform and bottleneck removed contributes to a more prosperous, equitable, and inclusive Jamaica.