Gorst warned in July that the island’s finance sector would decline if it did not become more competitive.
The government said the Competitiveness Programme was a joint project with Jersey Finance, the Jersey Financial Services Commission and industry partners.
It said it was an attempt to find new ways to strengthen and grow the sector during the next decade.
The government said some of the initiatives implemented were recommended in a review of Jersey’s financial services industry by global consultancy firm McKinsey.
Gorst said “with so much change and innovation in the industry across the globe, it is no longer a privilege for financial services businesses to operate in Jersey”.
“It is now Jersey’s privilege to serve them.
“So we must ensure that everyone from government to Jersey Finance Limited, the regulator and industry are all pulling together to give businesses a reason to choose Jersey.
“I am confident that the Competitiveness Programme will do just that,” he said.
The government said key initiatives included:
Developing plans to bring together a core team of officers to monitor global market trends and ensure any policy changes required are done quickly to put the island on the front foot
Developing proposals for a new concierge service to make it easier for new businesses to set up in Jersey
Strengthening the island’s targeted international engagement programme to reinforce Jersey’s presence in key markets
Conducting a 12-week review of the Jersey Financial Services Commission’s enabling law and memorandum of understanding to clarify Jersey’s risk appetite for emerging sectors such digital assets
Advancing tax policy enhancements, including updates to incentives and a review of personal income tax residence rules