PM Holness urges investors to speed up development

 

Prime Minister Andrew Holness is urging investors to pick up the pace of development in the country.

 

He says investment and output need to increase two folds, in order to hit some productivity targets. 

 

"If you look at the net of the new investment coming in versus things that are becoming obsolete, depreciated, of no value, then you begin to get an appreciation that the rate of how we are investing needs to increase double time than what we are doing now. So I'm saying that the economy is doing well, but the economy needs to do much better. We need to be working much harder than we are now," he admitted.   

 

The Prime Minister was speaking at the ground breaking for the Portmore Promenade, an $8.4 billion commercial development in the Bernard Lodge area in St. Catherine.