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Number, scope of Special Economic Zones being increased

Loop News

November 20, 2024 12:30 PM ET

3 mins read

In recent years, Jamaica has focused on increasing the number and scope of Special Economic Zones (SEZs) to enhance economic growth, attract foreign investments and boost exports.

This development has been part of the country’s broader Global Logistics Hub Initiative, which aims to position Jamaica as a critical player in international trade.

Chief Executive Officer (CEO), Kelli-Dawn Hamilton said, “our mission, in a nutshell, is to increase the number of SEZs.”

“So when we envision Jamaica’s future in this context, we anticipate that we will have world class facilities providing world class services to the rest of the world,” the CEO added.

Since the replacement of the Free Zones Act with the Special Economic Zones Act in 2016, there has been a steady rise in the number of approved SEZs across Jamaica, resulting in a current total of 198 locations.  

 “When we started, we would have had companies in the agro -processing area, manufacturing and global digital services sector.

“We’re happy to report now that we have companies, such as those involved in ship repairs, that are helping to get us into new sectors of development and new growth areas,” Hamilton said.

This strategic development has strengthened Jamaica’s logistics cluster and puts the country in a better position to become the fourth global logistics node.

Recognising the importance of workforce development, Hamilton pointed out that the JSEZA has partnered with key institutions, like HEART/NSTA Trust and the Caribbean Maritime University (CMU), to build a talent pipeline aligned with emerging opportunities.

“We would have been deepening our engagement with entities like these, because we know skillsets will become very important as we move into new sectors of opportunity,” she said.

Additionally, JSEZA has amplified its advocacy efforts, championing policies that ensure competitiveness and economic viability for SEZ clients.

“We see the SEZs as a testing ground for the broader economy. If a solution works within the SEZ, we are confident it can benefit the wider economy,” Hamilton stated.

“Our role as advocates is critical to fostering a business-friendly environment in collaboration with the Ministry of Industry, Investment and Commerce,”  she pointed out.