Prime Minister Bruce Golding has welcomed a new initiative by the British Government, which promises to boost employment in Jamaica.
The $40 million program entitled Compete Caribbean is aimed at creating new niche markets with a view to improving economic growth in Cariforum countries.
Mr. Golding, who was speaking at Tuesday's launch, said he was hoping that persons in the private sector take advantage of the initiative and stressed that no longer can the state drive the economy.
"The challenges that face us need this kind of initiative with its emphasis on private sector investment, private sector creativity. (This) country needs no more lessons about the unsuitability of alternative development approaches, with which we have experimented with in the past and wish the state to come to itself, the primary responsibility for trying to drive the economy. We’ve paid the price for that experiment," Mr. Golding stated.
The program is jointly financed by the Canadian International Development Agency, the United Kingdom Government's Department of International Development and and the Inter American Development Bank.