Addressing the annual Mona School of Business and Management Roundtable CEO Breakfast Forum at the Jamaica Pegasus Hotel this morning, Dr. Phillips said for Jamaica to realize these benefits, a new PNP government would lead this effort by bringing Small and Medium Sized Enterprises into the digital age through a number of deliberate actions. Allowing the situation to evolve freely was not good enough.
Among the action, the Opposition Leader proposed were:
- Enhancing access to credit and lowering access costs to SME;
- Offering business advisory services so that more SMEs could embrace digital technology;
- Speeding up Public Sector Transformation as business competitiveness and ease were being hampered by government inefficiency, and;
- Formalizing landownership, particularly agricultural lands.
- Embracing the application of digital technological advance in the educational sector, especially in the delivery of new teaching and evaluation methods and techniques. We have to catch up with the rest of the world.
He said these proposals would ensure that small and medium-sized enterprises accept the new environment of the “ecology of digital transformation.”
Dr. Phillips said a defining feature of the Jamaican economy over the years was the uneven concentration of wealth, as technology was only available to big corporations. He said it is fundamentally significant that technology is now accessible to large and small companies and there is no escaping its impact on our daily existence.
He said this could change the landscape as presently because of the 130,000 registered company, only eighty were publicly listed and paid seventy percent of corporate taxes. He noted also that forty percent of Jamaica’s productive capacity was in the informal sector, according to International Labour Organization statistics.
Dr. Phillips, who was speaking on the topic “Agile Leadership for Digital Transformation”, asserted that there would be significant economic and income growth with the use of technology, which would in turn improve the quality of people’s lives.
- Countries: Jamaica
- JAMAICA | To get growth, Ja needs to reduce poverty, tackle crime and properly compensate public employees, says IMF
- JAMAICA | Former IMF Boss Praises Jamaica
- JAMAICA | Opposition wants Greater Investment in Jamaica’s Human Capital
- JAMAICA | New World Bank envoy lauds Jamaica on its economic performance
- JAMAICA | Gov't Signs MoU with China for Greater Infrastructure Development Programme