Jamaica’s reputation as an investment destination continues to grow, with Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, making a strong case for both local and international investors to take advantage of the country’s evolving business landscape.
Speaking at the Jamaica Special Economic Zone Authority (JSEZA) SEZ Investor Briefing held Tuesday at the AC Hotel Kingston, Senator Hill cited a range of economic improvements and investment incentives that make Jamaica an attractive proposition.
With the country’s unemployment rate hitting a historic low of 3.5 per cent, alongside low inflation, a reduction in crime, and cuts in taxes, the Minister said Jamaica is now “stable and investable.”
“We are not the same Jamaica that we were 10 years ago,” Senator Hill emphasized.
He detailed several advantages for investors in Special Economic Zones (SEZs), including substantial tax breaks and customs benefits. “All those goods that you bring in to build up your [operations] will come in duty-free. When you start making money in year four, year five, six, and you invest that money, the profits you make from that, we will charge you only 50 per cent of the corporate rate,” he explained. “The corporate rate in Jamaica is now 25 per cent, so you will be paying 12.5 per cent. But you could drop it lower by how many Jamaican people you employ and trade with, and it could go down to 7.75 per cent.”
Operators within SEZ developments also enjoy major tax advantages. “If you’re an operator within the master developer’s place, you get your customs duty in and you only pay 12.5 per cent tax, which could also go down to 7.75 per cent,” Hill added. “So, you see, this would be a logistics and manufacturing distribution powerhouse in the Caribbean.”
Senator Hill pointed to Jamaica’s strategic geographic position – just 90 minutes from Miami, three hours from Panama and seven hours from Europe – as a key selling point in global logistics. He also lauded the country’s skilled workforce, especially in technology, manufacturing, and digital transformation sectors.
“We are saying to you there are great opportunities here. We are building corridors of prosperity from Kingston to Montego Bay, from Spanish Town to Black River to Negril,” he said. “Jamaica offers you a strategic location, world-class seaports and airports, a skilled English-speaking work force, a stable democracy and a business environment that is open, reforming and pro-investment.”
The SEZ framework is expanding to include a range of high-growth sectors such as film production, green energy, artificial intelligence (AI), and pharmaceuticals. Among the notable upcoming projects are the Caymanas Special Economic Zone, the Olympus Project focused on sports development, Xanadu 77 Technopolis, and Pandora Pharmaceutical SEZ.
Minister of Finance and the Public Service, Hon. Fayval Williams, also addressed the gathering, underlining the critical role SEZs play in the country’s economic future.
“These zones, paired with sound fiscal policy and modern infrastructure, are creating the environment that we need to lower the cost of doing business, attract high-quality local and international investments, connect MSMEs (micro, small and medium-sized enterprises) to global supply chains and elevate Jamaica’s competitiveness on the world stage,” Minister Williams stated.
Held under the theme ‘Unlocking Investment Opportunities Through SEZ Infrastructure and Partnerships’, the investor briefing underscored Jamaica’s commitment to positioning itself as a global player in trade, manufacturing, and innovation.
