Minister of Investment and Commerce, Senator Aubyn Hill, says there is a direct link between increasing productivity and growing the country’s economy.

Hill, who was speaking at RE/MAX Powerbrokers Coffee Break on Tuesday (March 19), argued that the local real estate sector is a key driver of economic growth and progress.

“Every single one of us in Jamaica must address this. We are below level in regional and international productivity. We have done some good things in economics but unless we do and change our productivity substantially. We are not going to be the rich country that we have to be. I am not interested in any poverty business, all I want to do with poverty is make sure our businesses and our business operators eliminate it,” Hill said.

Importantly, the commerce minister said boosting productivity can only occur when organisations constantly upskill their employees.

“Jamaican businesses must learn to train a lot more than we do. We are not going to double our population overnight. In fact, we are getting to levelling and in another 10 to 15 years it might be falling so we going to have to upskill, you guys and ladies in business must upskill our people. So, when you use the same amount of people, that you are constantly upskilling and the same amount of resources, money equipment etc, you make a lot more output, that’s when you get productivity,” Hill said.

The industry and investment minister said Jamaica has been recognised over the last five years for the gains made with economic management of the government attracting investors to the real estate market.

“Residential real estate holds the largest market share and this is worldwide figures, projecting market volume of US$76.73 billion around the world in 2024. The market looks good, Jamaica is strong and we are doing things to help you in the land titling business. The systematic land registration, which I led through the Senate and was passed in the Lower House (of Parliament), systematically titling we’ll be able to make titling easier,” Hill added.