Williams urges bold private investment, regional cooperation as new strategy aspires for growth
Published:Friday | August 1, 2025 | 9:36 AM
WESTERN BUREAU:
Finance Minister Fayval Williams says Jamaica’s economic recovery is progressive and could serve as a blueprint for the wider Caribbean.
Williams, who was addressing regional leaders, business executives, and international investors on Tuesday night at the Caribbean Investment Forum in Montego Bay, St James, also called for bold private-sector investment across the region.
“This Government’s (Jamaica) call is a call to invest in a Caribbean future,” said Williams. “Aspire is not just Jamaica’s growth framework, it is a regional blueprint for transformation. We are proving that small states with discipline, vision and partnership can deliver big results.”
Williams noted that despite the challenges brought on by the COVID-19 pandemic and major climate events like Hurricane Beryl, Jamaica has remained on a positive economic trajectory, which she attributed to the Government’s resilience, stemming from robust fiscal management, policy reform, and a focus on long-term infrastructure and social investment.
“Our economy is now fiscally sound, investor-friendly and more resilient,” said Williams. “We have restored macroeconomic credibility. We are improving governance, and we are creating a pipeline of bankable projects in high-growth sectors.”
Williams also highlighted Jamaica’s improved macroeconomic indicators, referencing the country’s poverty rate, which has fallen to its lowest level since measurement began in 1989.
“Jamaica has now achieved a historic low rate of poverty at 8.2 per cent, down from 16.7 per cent in 2021. This marks a major milestone in our ongoing efforts to improve the quality of lives for all Jamaicans,” she said.
IMPORTANCE OF PRIVATE INVESTMENT
While celebrating Jamaica’s economic progress, Williams emphasised the importance of private investment and regional cooperation in achieving further growth and transformation.
“Transformation is not the task of governments alone,” she said. “We need private capital, innovation and cross-border collaboration. That is why the Caribbean Investment Forum is so vital. It is a place not just for dialogue, but for deals, real deals; not just for vision, but for execution.”
Williams also touted Jamaica’s new growth strategy, dubbed ‘Aspire’, and focused on access, safety, people, infrastructure, reform, and economic expansion.
“We believe that this is not simply a time for adaptation. It is a time for ambition, and ambition must be matched by a framework that is disciplined, data-driven and future-focused,” she said.
Williams said a key part of the strategy was reducing energy costs, expanding digital and transport infrastructure, and embracing economic diversification through new and emerging industries, including medical tourism, renewable energy, logistics, agribusiness, and creative services.
“Infrastructure is no longer just about roads and ports. It is about resilience, connectivity and readiness to compete in a digitised, decarbonising global economy,” she declared.
In a direct appeal to potential investors, Williams stated that “.... the Caribbean is not simply waiting to be discovered. We are ready to partner with you. We are investing in the future, and we invite you to do the same”.
The Caribbean Investment Forum is the region’s flagship platform for promoting high-impact investments, strategic partnerships, and cross-border development opportunities. It is in its fourth year.