MSME and Entrepreneurship Policy to be reviewed
Minister of Industry, Commerce, Agriculture and Fisheries Karl Samuda has instructed members of the newly launched Micro, Small and Medium-Sized Enterprise (MSME)Thematic Working Group to review the three-year-old MSME and Entrepreneurship Policy.
The policy provides a comprehensive framework for the development of the MSME sector and seeks to minimise some of the challenges which impede the sustainable growth and development of businesses in the sector.
Speaking following the launch of the MSME Thematic Working Group at the ministry's St Lucia Avenue offices on Wednesday, Samuda said he has given the group three months, beginning July 1, to deliver the revised policy.
"The policy document has a built-in provision for review, and there have been developments in the last three years which make a 2016 review timely. However, I have given my ministry fair warning that I will not tolerate any lengthy, drawn-out process," said Samuda.
The Thematic Working Group will serve as the main mechanism for coordinating and monitoring MSME-related strategies and actions, particularly those falling under the Vision 2030 National Outcome No. 8, titled 'Enabling Business Environment'.
It represents a collaborative effort of the Ministry of Industry, Commerce, Agriculture and Fisheries and the Vision 2030 Secretariat of the Planning Institute of Jamaica.
The group will be chaired by Donovan Stanberry, permanent secretary in the ministry, and a co-chair will be drawn from the private sector.