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June 9, 2017

Jamaica’s Special Economic Zone Framework Designed to Support Private Sector SEZ Development

June 9, 2017

Its always a good idea to review your past work and accomplishments from time to time, you just never know what you will find.  Such a review brings to mind the old adage what is old, is new; reviewing after some time gives you perspective and at times new insights. Conducting such an exercise led me to remember my participation as a panelist in 2014 on a Government of Jamaica policy dialogue: Jamaica’s Growth & Special Economic Zones Policy Dialogue. Some how I posted an article on my LinkedIn but not on Commercial Law International. What an oversight! This oversight on my part has come to be a blessing in disguise as it allows me an opportunity to put out an article on Jamaica’s special economic zone (SEZ) policy and legislative framework, with particular focus on attracting private sector investment. This is especially timely given the continued roll out of Jamaica Special Economic Zone Authority, the Government of Jamaica’s, agency charged with regulating and attracting investments to zones in Jamaica.  While this piece is a bit dated it never the less provides in brief some useful insights, in particular for the private sector, into the policy and legal framework of SEZs in Jamaica. Read more: http://www.commerciallawinternational.com/?p=1806

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Jamaica’s Special Economic Zones: Form, Function and Model

June 9, 2017

Free Zone to SEZ: a new policy direction The name change from Free Zone to SEZ is not a simple matter of form over substance. The SEZ concept is a deliberate policy break away from past policy and is intended to send a clear signal to the investor community (domestic and international); the multilateral lending agencies; and the WTO that Jamaica is moving in a new policy direction. The Free Zones of the past were largely export processing zones reliant on non-World Trade Organization (WTO) compliant export performance fiscal incentives, the SEZ on the other hand move beyond export processing and is fully WTO compliant.   The Jamaica SEZ model SEZs are purposed built and fully serviced sites aimed at improving the competitiveness of manufacturing and services. They are founded on the principles of improving efficiency, clustering of complementary value added services, and seamless integration into the global value chains, low corporate taxation and a business friendly environment. These principles, however, are not self-applying. They have to be implemented systematic and this is where the Jamaica Special Economic Zone Authority (JSEZA) comes into play. JSEZA is the government body charged with regulating, monitoring, supervising, promoting and facilitating investments in SEZs in Jamaica. Through the work of JSEZA SEZs investors will facilitate and be facilitated by: Developing world class industrial infrastructure, supported by world class transport infrastructure (road, rail, airport and ports) that function as trade facilitators; Competitively priced energy; Increase cargo flows through increased transshipment throughput; increased imports as inputs into production (SEZ and domestic); and increased exports as semi or finished goods (SEZ or domestic) that have the Made in Jamaica label; Optimize and analyzing cargo flow information to seek out, attract and manage higher value-added logistics activities; and Create backward linkages to the rest of economy through our Micro, Small, Medium Enterprises (MSMEs) through the sourcing of domestics raw materials as inputs into production and by subcontracting of local service providers. Read more: http://www.commerciallawinternational.com/?p=1804

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Customs to Police Leakage from Auto SEZs

June 9, 2017

Jamaica has opened up its special economic zones, or SEZs, to car importers, but is offering assurances that it comes with safeguards to prevent leakage of uncustomed vehicles into the local market. The May 9 decision by Minister of Industry Karl Samuda will allow dealers to import vehicles into a SEZ duty-free and without a licence from the Trade Board. SEZ-stored vehicles are mainly meant for trans-shipment, but the policy does not bar SEZ-designated cars from being sold in Jamaica. To emerge from the SEZ and into the local market, the vehicles would then have be to assessed for tariffs by the Jamaica Customs Agency and obtain the requisite import permit from the Trade Board. Kent LaCroix, chairman of the Automobile Dealers Association (ADA), is suggesting that bonded storage areas are needed at the wharf to facilitate the migration of autos from the SEZ into the local trade. Read more: http://jamaica-gleaner.com/article/business/20170609/customs-police-leakage-auto-sezs

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