The Private Sector Organisation of Jamaica (PSOJ) was established in 1976. It is a national organisation of private sector associations, companies and individuals working together to promote a competitive and productive private sector.
The organisation seeks to influence issues of national policy of a political, social, or economic nature. The Executive Committee, under guidance from the Council, leads this process by promoting discussions with the country’s government, political directorate and the opposition. The Organisation is also in close and constant contact with the major multi-lateral and bi-lateral agencies.
By being active in the Organisation, on the Council or any of the committees, companies and individuals can contribute directly to achieving changes, that will make Jamaica a better place in which to live and work. Virtually everyone in the private sector has benefited in some way from the work of the PSOJ. Membership subscriptions are the major source of the funds used to carry out this work.
One of the primary mandates of the PSOJ is advocacy. The proactive participation of members, through a number of committees, which directly impacts on the development of the private sector. The PSOJ continues to provide meaningful representation on behalf of the private sector, to ensure that its presence and strong voice are always maintained.
The founding fathers envisioned a number of key objectives for the PSOJ and these are embodied in the Organisation’s Constitution:
- to provide technical assistance in the form of institutional development and membership development;
- to strengthen the Organisation’s ability to advocate on behalf of its members;
- to capitalise on the benefits of international trade agreements, through the dissemination of timely and accurate information to members;
- to promote close and decisive co-operation between members and interest groups whether locally, regionally or internationally;
- to promote better co-operation between the various elements in the private sector so that maximum productivity can be achieved for the benefit of everyone;
- to ensure that the technical resources and facilities that are available to the country are disseminated to the business sector; and
- to serve as a means of co-ordinating the resources within the private sector with specific emphasis on economic development.
Vision 2030 for Jamaica
Jamaica is a place of choice to live, work, raise families and do business.
We are the unifying voice of the private sector working in partnership with the public sector and civil society to achieve vision 2030 for Jamaica.
To effectively advocate for the implementation of public policy that enables strong sustainable private sector led economic growth and development.
Areas of Emphasis
- To promote cooperation between private sector organisations
- To formulate and promote a macroeconomic policy framework, which will achieve high rates of sustained economic growth
- To formulate and promote policies for the achievement of a lawful and just society
- To promote and influence greater transparency, efficiency and accountability in the operations of the public sector
- To promote the practice of good corporate governance in the private sector
Our Organisation is governed by its Council, which is elected by the general membership at the Annual General Meeting to serve for a two-year period. The Council elects each year from its members, an Executive Committee, which includes the President and Officers of the PSOJ.
Policy and Direction
The organisation seeks to influence national policy issues of a political, social, or economic nature. The Executive Committee, under guidance from the Council, leads this process by promoting discussions with the country’s government, political directorate and the opposition. The Organisation is also in close and constant contact with the major multi-lateral and bi-lateral agencies.
Our Executive Committee meets monthly and is responsible for the operations of the Organisation. Through the Committee, we are committed to providing our members with complete access to the Organisation and to respond instantly to issues raised by them. Day-to-day management is the responsibility of the Chief Executive Officer and a Secretariat of qualified employees.
- National and regional representation
- International trade linkages and support
- Events which allow our members to network with their peers
- Effective advocacy at all levels
- Monthly e-bulletin with current information on international trade agreements, missions and promotions, events, training opportunities and seminars
- Monthly newsletter, The Private Eye with relevant business information
- Practical training seminars
- Access to economic and trade policy research capabilities
- Serving on important government and non-government committees
- Access to working with Committees which meet monthly on issues of national importance
Since inception in 1976, some of the initiatives on which the PSOJ has been influential are:
- The official adoption of the market economy as the most appropriate framework for the country’s long-term development;
- The process of liberalisation, deregulation and privatisation which began in the 1980s;
- The lifting of exchange controls;
- Tax reforms in the late 80s and early 90s;
- Establishment of the Jamaica America Medical Assistance Committee (JaMAC), in association with the Jamaica Chamber of Commerce (JCC), to coordinate overseas donations and medical services for the island’s health sector;
- The reform process in the Police Force, beginning with the Hirst Report;
- The drive to connect inflation with money supply;
- The ongoing process of electoral reform;
- Amendments to the New Companies and Revenue Administrative Acts;
- Reversal of the street light cess;
- Successful Crime Stop programme;
- Development of the National Crime Plan in partnership with the Government, the Opposition and civil society and introduction of new crime related programmes that contribute to the further enhancement of the profile of the Police, including Police Courtesy Week and the Phone-In programme;
- Training of trainers and company Directors with a view to increasing awareness of Corporate Governance principles and practices;
- Sensitization of the private sector to developments in the international and regional trading arena through seminars, meetings, and other fora;
- Education Committee’s participation in the Task Force Report on Educational Reform.
- Leading discussions between the public and private sectors, labour Unions and the non-governmental community towards a Partnership for Progress;
- Hosting of strategic planning retreats with the Government of Jamaica to identify and implement strategies for national economic development.