Jamaican News




MR. LEE-CHIN WILL CHAIR THE NEWLY ESTABLISHED ECONOMIC GROWTH COUNCIL (“EGC”) that will be set up to advise the Government of Jamaica on the adoption of a framework of “Growth Initiatives” designed to facilitate and catalyse economic growth. Upon adoption of the Growth Initiatives by the GOJ, the EGC will be tasked to monitor and report on the progress in the implementation of these Initiatives. The Growth Initiatives, once adopted by the GOJ, will be published and will remain in the public domain by clear actions and plans.

The EGC will have the following specific duties and responsibilities:

· To advise the GOJ on a framework of proposed initiatives along with sub-initiatives that are expected to yield economic growth. In so doing the EGC is expected to engage in wide consultation and to take into account, and build on, previous work done in this area;

· To agree with the GOJ on the final framework of Growth Initiatives to be adopted, from among those proposed by the EGC, along with a timeline for implementation;

· To receive update reports from Ministries, Departments and Agencies, (MDAs) on the Growth Initiatives and to monitor their progress in achieving implementation of these Initiatives;

· To support the MDAs in the implementation of the Growth Initiatives, as required;

· To update the Prime Minister on progress in attainment of the Growth Initiatives and to raise concerns as required.

· To report on a quarterly basis to the Jamaican people on the progress of attainment of the Growth Initiatives;

· To support the GOJ in securing investment for Jamaica.

The establishment of the Economic Growth Council with Mr. Lee-Chin as Chairman reflects the government’s determination to put the growth of the economy and job creation at the centre of its administration. On announcing the appointment, the Prime Minister remarked, “The Government intends to place a concerted effort on economic growth and the creation of jobs. These are urgent priorities. The appointment of the Economic Growth Council signifies our commitment to these priorities. We expect that Mr. Lee-Chin’s leadership of the EGC will introduce dynamism and unconstrained thinking to the process of growth policy formulation. ”

In accepting the appointment Mr. Lee-Chin remarked, “I am honored to accept this appointment and responsibility. We are a country of immense potential with an abundance of opportunity. I will dedicate myself to ensuring that Jamaica maximizes on its opportunities and achieves its economic potential.”

The EGC will comprise private and public sector leaders who have exhibited a strong commitment to national development. The other members of the council will be named shortly.

Michael Lee-Chin is the Founder and Chairman of Portland Holdings and majority shareholder in the National Commercial Bank. Mr. Lee-Chin is widely regarded as a visionary entrepreneur and one who has inspired many through his philanthropic initiatives.

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