Thursday, June 23, 2016

Jamaica Poised for Economic Growth - Portland in Focus

Jamaica's Economic Team

Obstacles to Jamaica’s growth and job creation are numerous and severe. In order for Jamaica's economy to grow the Government must address crime, the cost and availability of credit, tax compliance costs, unreliable and expensive electricity, and a large informal economy. The large size of the public sector has also stifled private sector dynamism and places too much emphasis on government as the engine of growth and employment.

For the first time in many years latest assessment of the Jamaican economy, it is projecting economic growth at 1.7 per cent this fiscal year and that the government will therefore need to implement bold structural reforms to unleash the island’s potential.
Portland Parish Jamaica
Some areas of the Jamaican Economy poised for immediate growth includes Tourism, technology and renewable energy. The Parish of Portland with unexposed tourist attractions and its natural beauty with some private sector investment could see up to 3% growth in the next 2 years. Hindrance to unleashing the parishes potential growth includes poor condition of infrastructure including its main roads and arterial roads all across Eastern Portland, existing unpaired damages to the Blue Lagoon Bar, Restaurant and gift shop, the inaccessibility to Nonsuch Caves, poor conditions of access roads to winnifred Beach and non-existent public facilities.

These are just some of the existing opportunities in Portland the fact is some infrastructure does exist around these public facilities but are run down because of neglect. Some of Jamaicas most beautiful beaches, villas, beach villas and B&B including the Tropical Lagoon Resort overlooking the Blue Lagoon. 

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