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Economic Growth Council to monitor growth initiatives

Featured Economic Growth Council to monitor growth initiatives
KINGSTON, APRIL 29, 2016 - The Andrew Holness administration says the newly established Economic Growth Council (EGC) to be led by NCB Chairman Michael Lee Chin, will monitor and report quarterly on the progress of growth initiatives once they are implemented.
    
The Office of the Prime Minister says the EGC is expected to engage in wide consultation and build on previous work, before advising on the initiatives. The Council is also expected to receive reports from Ministries, Departments and Agencies and monitor their progress in implementing the initiatives. Another duty of the Council is to help the government secure investments.  
Among the other responsibilities of the Council:·    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  implementing 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.
                                                        
Prime Minister Andrew Holness said "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.”
 
He also said the group would also have the responsibility of bringing any possible obstacles to the attention of the government so it can be cleared. 
 
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.
Last modified onThursday, 28 April 2016 07:19

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