State Minister in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. Floyd Green announced that a target has been set for Jamaica to rank among the top 10 on the Ease of Doing Business Index within the next three years.
This, he said, is to be achieved through the National Competitiveness Council Doing Business Reform Memorandum.
'We have joined our public/private sector in a partnership in a body to advance policy research and public awareness of reform initiatives that facilitate the design of an enabling environment for businesses in Jamaica,' Minister Green said.
'The initiatives monitored and facilitated under our Business Environment Reform Agenda are specifically focused at improving Jamaica's performance in the key international indices such as the Doing Business Report, The Global Competitiveness Index and the Logistics Performance Index,' Mr. Green continued.
He was speaking at the launch of the ninth staging of the Caribbean Hotel Investment Conference and Operations Summit (CHICOS), at the Terra Nova All-Suite Hotel in St. Andrew on May 7.
A publication of the World Bank, the index ranks countries based on how conducive the regulatory environment is to business operations and the protection of property rights.
Meanwhile, he informed that plans for the creation of a National Investment Policy, which will guide the development and administration of the country's investments, is expected to be tabled in Cabinet in short order.
The policy will also help to monitor and encourage investors and 'will ensure that there is cohesion through all related initiatives and programmes, incentive regimes and stakeholder contributions'.
Additionally, a web-based national business portal is being developed to complement and support the implementation of the National Investment Policy, which will help to make doing business easier.
'The online platform will house all the government entities involved in investments or business facilitation. It will be a one-stop shop for those who wish to invest and do business in Jamaica to go online and have that real-time interface,' he said.
To be held at Secrets Wild Orchid Montego Bay and Secrets St. James Montego Bay from November 14-15, CHICOS is being sponsored by the Apple Leisure Group, AMR Resorts and the Jamaica Promotions Corporation (JAMPRO).
The event will bring together governmental representatives, opinion leaders, developers, bankers and other lenders, tourism officials, investment funds, hotel brand executives and individuals/companies seeking investors for their tourism projects as well as public and private institutions to discuss hospitality development possibilities.