Hill reiterates private sector will not be left out of NaRRA spending

St. James, Jamaica — Minister of Industry, Investment and Commerce Senator Aubyn Hill has reaffirmed the Government’s commitment to ensuring that the private sector benefits from spending under the National Reconstruction and Resilience Authority (NaRRA).

He was addressing the regular meeting of the Montego Bay Chamber of Commerce and Industry (MBCCI) on Wednesday evening at the NCB Fairview Financial Centre.

Hill underscored the importance of creating opportunities for private sector participation through NaRRA, highlighting the role businesses can play in Jamaica’s reconstruction efforts, particularly in the wake of the devastation caused by Hurricane Melissa.

“Out of that US$6.5 billion, US$2.4 billion of it must go through the private sector,” he told those gathered.

His remarks echoed a position previously outlined by Finance Minister Fayval Williams, who stressed that reconstruction and rebuilding in the aftermath of the hurricane cannot be undertaken by the Government alone.

Earlier this year, Williams highlighted the need for a collaborative approach to fast-track development, including the redevelopment of areas such as Black River.

The US$6.7 billion in development financing is being provided through several multilateral partners and channelled through NaRRA to support Jamaica’s recovery and reconstruction efforts.

While Hill noted that the programme would cover several major engineering, procurement and construction (EPC) projects, he stressed that the private sector would still have a significant role to play.

He urged stakeholders not to let the opportunity pass them by.

“What are the banks doing? What are contractors doing? What are businesses doing? All those people are going to have to build all those things, have to eat food…” he said. “They’re going to need hospital services; they’re going to need transport services.”

Hill insisted that private sector stakeholders must now assess what is needed to position themselves to participate in the reconstruction programme.

“What are we doing to prepare, to make sure you participate in that US$2.4 billion that’s for the private sector? And of course, you’re going to participate in the other portion from the government,” he said.

Source: Jamaica Observer