Founder of global telecoms company Digicel, Denis O'Brien, on Friday encouraged graduands to grasp every opportunity to pursue business aspirations, indicating that the Government is pursuing the right economic policies.

"For the first time in the history of this great country, you have had two balanced budgets and economic reinvigoration. There is no better time to be joining the workforce," O'Brien said.

O'Brien said that the current fiscal policies are appropriate to unlock the economic benefits.

Jamaica is pursuing various economic reforms under a four-year programme with the International Monetary Fund that critics say is too harsh and restricting growth.

"If your Government sticks to its fiscal-reform policies, economic growth will surge," he charged.

O'Brien was on Friday conferred with an honorary degree by the University of the West Indies (UWI).

Addressing graduands, O'Brien said Jamaica will soon "blast off".

"Jamaica has more unfulfilled economic potential than nearly all of the Caribbean countries combined. For those of you thinking of entrepreneurial ideas, you will want to think of products that you can develop in Jamaica, but also products that could be sold overseas and some parts in the region," the Irish billionaire said.

He added, "I have not only had ups, but I have had my failures, too. My first business in the United Kingdom, in its first month, generated £12,000 of revenue and lost £500,000. That was a blow to my pride, but I had to face my failures head-on. Not having a business degree does not mean you can't build a successful business, the reality is that if you can count from one to 10, you become a successful entrepreneur," he charged.