Prime Minister, Dr. the Most Hon. Andrew Holness, is urging Jamaicans to enhance productivity as a means of driving economic growth.
With unemployment at a record low of 4.2 per cent, the Prime Minister said that the nation must now shift its focus from merely increasing workforce numbers to improving output per worker.
“Every Jamaican must understand that there is no growth without productivity,” he said, while addressing the launch of ASPIRE Jamaica, the Government’s new policy framework for inclusive growth, at the Office of the Prime Minister on November 19.
“We must change our mindset towards productivity. Productivity is about working smarter,” the Prime Minister added.
He noted that productivity is not merely about working harder but involves “finding better tools, skills or methods to produce more value.”
He said this shift in mindset is essential for Jamaica to reach its economic potential.
The Prime Minister said that productivity is influenced by various factors, including investment in physical and human capital.
He noted the importance of infrastructure development in boosting productivity.
“Efficient roads and ports reduce travel times and logistical costs for workers and businesses,” he said, emphasising that improved transportation allows firms to produce and deliver goods more effectively.
He acknowledged the challenges posed by crime, which can hinder productivity by imposing extra costs on businesses and limiting their capacity for innovation.
Imploring all Jamaicans to embrace the change, the Prime Minister said that as the nation becomes more productive, businesses will flourish, workers will earn better wages, and the overall economy will strengthen, ultimately enhancing the quality of life for all citizens.
ASPIRE Jamaica outlines critical six pillars for transforming Jamaica into a modern, peaceful, productive and prosperous society.
These are Access to Economic Opportunity for All (Inclusive Growth); Safety and Security; People (Human Capital Development); Infrastructure Development; Reform of the Bureaucracy (Ease, Speed, and Cost of Doing Business); and Economic Diversification/New Industries.
