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A land of global sports icons, Jamaica has designed a special economic zone (SEZ) to better nurture and grow its sports talents beyond track and fields. “Olympus Sports City is clearly about Olympic disciplines,” minister Aubyn Hill tells fDi on the sidelines of the AICE 2022 event, organised by the World Free Zones Organization and taking place in Montego Bay, Jamaica in June 13–16. “We have a lot of sports talent, but we don’t have the facilities. So now we are launching Olympus to create facilities for basketball, football, track and field and cricket.” The project is to extend 694 acres and includes the Trelawny cricket stadium that was developed for the world cup in 2007. The government will bring all the utilities to the gates, Mr Hill says, for developers to come in and build the facilities and eventually sell them to the operators, which will be working under an SEZ regime. Olympus Sports City is part of a programme of new SEZs designed by the Jamaican government to increase investment and attractiveness. It will add to the five SEZs that are already up and running, and will mostly focus on business process outsourcing businesses. The plan also features tech park West77, the biotech-focused Pandora SEZ and Xanadu, an SEZ focused on the entertainment industry. The government is also keen to promote the development of the Caymanas SEZ adjacent to the Kingston Container Terminal concessioned for 30 years to French shipping firm CMA CGM in 2015. The IDB expects that nearshoring can add $78bn in exports of services and goods originating in Latin American and Caribbean countries and the Caymanas SEZ specifically is meant to seize the nearshoring opportunity for Jamaica. However, the project has been in the drawing room for several years and — according to Alok Jain, a consultant to the prime minister and a board member at the Caymanas SEZ — “a lot depends on what happens here [at AICE22]” as the government tries to build momentum for the zone.   Source: https://www.fdiintelligence.com/content/news/jamaica-a-free-zone-to-set-new-records-81085

THE introduction of the special economic zone (“SEZ”) regime in Jamaica 6 years ago was geared towards the positioning of the country as a viable participant in global trade by creating a globally competitive environment in which businesses can thrive. With over 180 entities operating within 9 industries in over 100 SEZs across 8 parishes, it does appear that Jamaica has benefited, and continues to benefit from, job creation, increased productivity, and economic growth stimulated by the SEZ regime. With more than 7,000 SEZs and over 100 million employees in over 145 countries worldwide, hundreds of foreign and local investors have flocked to Montego Bay, along with technocrats and government officials, from June 13th to 17th for the World Free Zones Organization’s 8th Annual International Conference & Exhibition (AICE 2022), the world’s must-attend event for free zones, SEZs and associated entities, hosted by the Jamaica Special Economic Zone Authority (JSEZA). Jamaica is now on display in Montego Bay as an ideal location for SEZ investments, and JSEZA has been working to expand and diversify Jamaica’s SEZ investment portfolio in a bid to attract developers wishing to establish modern, large-scale zones. Dubbed the VIP Industries, JSEZA has revealed that the key industries most suited to take advantage of Jamaica’s strategic position close to the world’s largest single market and to capitalise on its comparative advantages include: food manufacturing and agrotechnology; logistics and supply chain management; pharmaceutical; global services sector (ICT and BPO); creative industries and new digital media; automotive; biotechnology; electronics; digital/ICT equipment and services; beauty care; and medical devices. A prospective investor may also wish to explore the possibility of investing in one of the regime’s permitted industries not listed among the VIPs. Presently, the Special Economic Zones Act, 2016 (the “SEZ Act”) affords developers of SEZs and occupants operating within those SEZs, numerous fiscal incentives once those companies have obtained regulatory approval to carry out their authorised SEZ activities as occupants or a developers. A local or foreign investor may seek to explore the possibility of becoming a developer of an SEZ in Jamaica. A developer is a company, limited by shares, that is incorporated under Jamaica’s Companies Act and is established by a sponsor (investor/s) for the purpose of entering into a master-concession or a licence-agreement with JSEZA in relation to the establishment of an SEZ. A master-concession is a concession agreement concluded between JSEZA and the developer of an SEZ established, or intended to be established, on land that is vested in JSEZA as the registered proprietor or head lessee of the land. The proposed Caymanas Special Economic Zone, for example, is a project within the Government of Jamaica’s Global Logistics Initiative in which the lands are likely to be vested under the control of JSEZA as registered proprietor or head lessee. In order to position Jamaica as a global leader in cargo trans-shipment and logistics services, technology and agro-technology services, JSEZA is likely to enter into master-concessions with local and foreign investors as part of proposed public-private partnerships currently under review. On the other hand, a licence-agreement is a concession agreement concluded between JSEZA and the developer of an SEZ established, or intended to be established, on land that is not vested in JSEZA as the registered proprietor or head lessee of the land. JSEZA also has the discretion to allow the establishment of specialised SEZs, which are SEZs limited to specific economic activities such as maritime or aviation-related SEZs and which may include dry docks, bunkering facilities, aircraft maintenance and repair, tank farms, among others. A prospective investor may also consider carrying on business in an SEZ as an occupant. An occupant is a person, other than the developer of an SEZ or a ‘zone user’, who conducts authorised business activities in an SEZ pursuant to the terms and conditions set out in a sub-concession agreement it has entered into with the developer of that SEZ, with the prior approval of JSEZA. Finally, one may choose to invest as a zone user. A zone user is a person who receives authorisation from JSEZA permitting that person to carry out or operate, as the case may be, any activity, service or facility in an SEZ. An SEZ can afford an investor who is a developer or an occupant (but not a zone user) certain critical fiscal incentives. For example, the SEZ benefits result in an income tax rate of 12.5 per cent, which is half the normal rate and can be reduced to 7.5 per cent with certain tax credits. In addition, the SEZ benefits result in exemption from the payment of income tax on profits derived from rentals of property in a SEZ, capital allowance, promotional and employment tax credits, relief from transfer tax, stamp duty reduction, no customs duty or general consumption tax (GCT) on the import of equipment, GCT relief on certain goods and services entering an SEZ, and refund of customs duties upon the exportation of goods from Jamaica. The regulatory approval process involves the submission of a business plan, that includes a financial analysis, to JSEZA. Typically, in considering an application for approval, among other things, JSEZA wishes to be satisfied that the applicant will be conducting activities from which Jamaica will be earning some kind of tangible benefit, for example through increased provision of jobs, inflows of foreign exchange, where applicable, and achieving sustainable development goals. Consideration therefore needs to be given to how a prospective investor can demonstrate, through a business plan, that SEZ approval should be granted so the investor can go forward with the implementation of the investment plan. Having experienced business and legal advisors on an investor’s team is imperative, not just at the execution stage of an investment plan in Jamaica but from conceptualisation of an SEZ plan, right through to obtaining the desired regulatory approval to establish an SEZ or commence business operations within an existing SEZ in Jamaica. Jezeel Martin is an associate at Myers, Fletcher and Gordon, and is a member

The Ian Fleming International Airport in Boscobel, St Mary has received its first commercial flight. The airport today saw the arrival of InterCaribbean Airways from Providenciales, Turks and Caicos. Minister of Tourism Ed Bartlett was among government officials and stakeholders to welcome the passengers and crew. The airline is scheduled to operate monthly flights but is expected to transition to weekly service later on. At the time of the announcing plans for international flights at Ian Fleming last December, the Transport Ministry indicated that the move forms part of the efforts of the Airports Authority of Jamaica to increase traffic in and out of the island’s smallest international airport, pumping in excess of US$2 million into the Jamaican economy. “This development is particularly important because the largest single employer in the Turks and Caicos Islands is Sandals Resorts, the largest Jamaican-owned luxury all-inclusive resort, with approximately 600 Jamaicans directly employed there and an estimated 6000 Jamaicans and descendants living in the island,” said then Portfolio Minister Robert Montague. Noting the limitations regarding the size of planes that can fly in and out of the airport, it was said that InterCaribbean Airways would offer 30-seater planes.   Source: https://jamaica-gleaner.com/article/news/20220616/ian-fleming-airport-gets-first-commercial-flight

ST JAMES, Jamaica — Prime Minister Andrew Holness has announced that the Caymanas Special Economic Zone in St Catherine, which will be developed on 650 acres of land, will start for Jamaica 60th anniversary celebrations. “So already, Minister Aubyn Hill has been tasked with putting all the pieces, all the elements together to ensure that we can have this project at least started in significant ways in celebration of Jamaica 60th year of independence,” Holness stated. “We’ve been talking about this project for more than a decade. I’m here to tell you that it will be a reality,” the Prime Minister added. Speaking at the World Free Zones Organisation’s (WFO) Annual International Conference and Exhibition (AICE) 2022, underway at the Montego Bay Convention Centre Tuesday morning, Holness said the Port Authority of Jamaica has been mandated to get the project done. “Now we have given the Port Authority of Jamaica specific mandate that it must leverage its balance sheet, its experience and know how, it must partner with the private sector, it must de-risk this project and get it done,” Holness stated. “Several years ago the World Bank sponsored a feasibility study of this project and concluded that it will be suited for warehousing and logistics, for ICT and BPO, for robotics and artificial intelligence, furniture, paper products, plastics, repair services, pharmaceuticals, among other such activities. But it just didn’t happen.” The Prime Minister underscored that the Caymanas Special Economic Zone is located in an area with the largest cluster of university graduates in the region. “On another important level which is great feature for the Caymanas Special Economic Zone is that it is located right in the middle of the largest concentration of university graduates in the Caribbean. And it is also located in the middle of the largest concentration of English-speaking people in the region. So it has this natural human capital that can drive into development. We will get this project done,” Holness insisted.

Jamaica is being strategically positioned as a globally competitive logistics hub, and an efficient investment destination, says Prime Minister, the Most Hon. Andrew Holness. According to the Prime Minister, there is a new wave of US multibillion-dollar investments projected for the Caribbean region, which will create myriad opportunities for economic growth and development. Addressing the Eighth Annual International Conference and Exhibition (AICE), at the Montego Bay Convention Centre in Rose Hall, St. James, on Tuesday (June 14), Mr. Holness noted that the country, by way of investments in several key sectors, is on course to capitalise on the projected investments. “I met with most of the world leaders of this hemisphere and heard from the Inter-American Development Bank how nearshoring and friendly shoring will attract more than US$78 billion of new investments and exports, which will create more than four million direct jobs,” The Prime Minister said. “Jamaica is ideally located at the intersection of the east-west and north-south trade routes. Kingston Harbour is the seventh largest natural harbour in the world. Our mission is to leverage these natural assets and position Jamaica as the fourth global logistics mode, comparable to Singapore, Dubai and Rotterdam,” he added. The Prime Minister said significant investments have been made to improve the transportation and telecommunications infrastructure. “We have made significant investments and continue to make transformational changes in our human capital development, equipping our workforce for industry needs and now strategically positioning Jamaica as a globally competitive and efficient investment destination,” Mr. Holness noted. He cited the Kingston Logistics Park and the Flagship Caymanas Special Economic Zone in St. Catherine as key projects that will further advance Jamaica’s global competitiveness. Meanwhile, the Prime Minister said countries can use special economic zones (SEZs) or free zones as drivers to recover from the effects of the coronavirus (COVID-19) pandemic and other global crises. “There is a natural thrust towards free zones. I would say free zones are at this point critical to the future growth of the world economy. This is the time for free zones to work together to leverage these conditions. And this conference is about working together to take advantage of the new global developments, which are creating opportunities,” Mr. Holness argued. Representatives from 60 countries are attending the five-day conference from June 13 to 17, which features world-class speakers, senior policymakers, academics, multilateral organisations and global business leaders. SEZs are areas within a country that are created to facilitate rapid economic growth, by leveraging tax incentives as a way of attracting foreign investments and technological advancement.   Source: https://jis.gov.jm/pm-says-country-being-positioned-as-global-logistics-hub/

The Ministry of Finance and the Public Service will debut a new online series on Wednesday (May 18), dubbed ‘Coffee and Conversations’. The series will allow members of staff at the Ministry to tell their stories of triumphs and adversities. Manager of Public Relations at the Ministry, Shakiel Rochester Shorter, told JIS News that the initiative, conceptualised by the Corporate Communications and Public Relations Branch, will allow Jamaicans to “see the faces behind the Ministry”. “The Ministry is an institution but the individuals behind it are people just like you and me. In fact, our public servants are citizens too. Coffee and Conversations is a programme that aims to highlight the experiences of our public servants by showcasing real stories with real people,” she noted. Coffee and Conversations will be aired every Wednesday at 12:30 p.m. on the Ministry’s YouTube channel. Mrs. Rochester Shorter said that the public servants will share their achievements and, hopefully, inspire others to join the public sector and serve their fellow citizens in various capacities. “This programme will be profiling public servants and their achievements, obstacles they overcame, benefits received from being a public servant and being involved in leadership, among other areas. Coffee and Conversations will be a light-hearted 10-minute chat in a relaxed environment, reminiscent of a coffee shop. These conversations are meant to be relatable to staff and the general population,” she told JIS News. “It will also display the diversity within the Ministry, placing the Ministry as a centre of excellence in the eyes of Jamaicans, which supports the transformation efforts embarked upon by the organisation. Public servants will become more relatable through storytelling and sharing their experiences, as this programme is set to attract other individuals to the public sector,” she noted. Aside from the personality interviews with public servants, the series will also address topics of interest with experts who are not on staff. Members of the public are invited to view the series on the Ministry’s YouTube channel.   Source: https://jis.gov.jm/finance-ministry-hosts-coffee-and-conversations/

ST JAMES, Jamaica – Prime Minister Andrew Holness says the Government intends to pursue Vernamfield in Clarendon, as a viable option for a new international airport. Speaking to reporters and stakeholders following a tour of the Sangster International Airport in Montego Bay, St James on May 13, Holness said despite the infrastructure upgrade at the island’s three international airports, there’s a strong argument to be made for a modern facility to be built from scratch. “As we look to the future, it is inevitable that Jamaica may have to build from scratch a modern airport. We are trying with these three (Norman Manley International, Sangster International, and Ian Fleming International Airports) …always renovating and changing…and that will have to be, as they are all established airports,” he said. “But when we think about things such as climate change…the possibilities of establishing maintenance, repairs, and operations of aircraft…when we think about the possibility of training pilots and maintenance crew for aircraft…the possibility of having cargo and other logistics, inevitably Jamaica will have to build another airport and we have been discussing this for some time with Vernamfield as a cargo facility,” the Prime Minister added. He noted that for strategic reasons, the government will have to make that investment. “Though its long term, it is still on the agenda of the government. Inevitably and eventually, we will have to have a fourth international airport,” Holness emphasised. Meanwhile, work has commenced on the runway extension at the Sangster International Airport. The work includes the establishment of Runway End Safety Areas, relocation of thresholds and navigational aids, and increasing the take-off run available for the primary runway from 2,662 metres to 3,060 metres. The extension work is part of a $US70 million runway expansion project. When completed, the runway is expected to reposition the airport to accommodate larger and more powerful planes, while significantly reducing arrival and departure times.   Source: https://www.jamaicaobserver.com/latest-news/vernamfield-to-be-developed-as-international-airport-holness/

Jamaica’s Minister of Industry, Investment and Commerce Aubyn Hill has said that his country can look to get wheat and fertilizer from India. His comments come in the wake of global supply snarls that was sparked following the Russian-Ukraine war, putting global food security at risk. Speaking to WION’s Principal Diplomatic Correspondent Sidhant Sibal, Hill said, “Fertilizer is something we will be looking at. But in fact, as this relationship develops, we might be also looking for wheat from India, and those are the kind of discussions we are going to have, as the war between Ukraine and Russia plays out.” He was speaking ahead of Indian President Ram Nath Kovind’s one-week visit to his country. The Indian president will visit Jamaica and St. Vincent and Grenadines from May 15 to 21. This is the first visit by the Head of State of India to these two countries and is reflective of India’s commitment to the CARICOM or the Caribbean community. Inviting the Indian investors, the minister said, “Would like to see trading ties between India and us increase, as we build infrastructure. I would like to see a lot more Indian contractors working with us in Jamaica”. Here are some excerpts   WION: How do you see the visit of the Indian president to Jamaica? Aubyn Hill: It is extremely important to all of us in the government, and I can say to most Jamaicans, it is historical. President Kovind will be welcomed, I can’t recall an Indian president coming here. It was indeed my pleasure a couple of years back when I handed my credentials to President Kovind in Delhi, when I served as Jamaica’s High Commissioner to India, a non-resident high commissioner. We are all very pleased and happy to have him in Jamaica—a country that has very strong ties with India. We have an important Indian minority in Jamaica. Apart from that, we have also cultural, sports and historical ties through the commonwealth. We are very pleased to welcome him.   WION: The visit will see him giving cricket kits, naming of one of the streets in the name of Dr Ambedkar  Aubyn Hill: Your constitutional star Dr Ambedkar will be honoured in Jamaica while President Kovind is here. We are naming a street which happens to be just south of our Supreme Court building, which is absolutely right given the role that Dr Ambedkar has played in writing of your constitution. Such a fine Constitution. We are very pleased that a street will be named after him. The president will be speaking at the lower house of Parliament, where the upper house of the senate will also be invited. So effectively, he will be speaking to the joint session of the Parliament, which is unusual. It is an honour we give to a very few, and we are very pleased that President Kovind will receive this honour. I will be certainly there, listening to him when he addresses our Parliament next week.   WION: How do you see the ties between India and Caricom? Aubyn Hill: In recent years, PM Modi has been very careful and courteous in meeting not only my prime minister but also the prime ministers of CARICOM. India’s influence across the CARICOM is very strong and important. We have a population which is of Indian descent. Same in Guyana, across the Caribbean. That has been the case. Of course, we have cultural ties that communities bring. Cricket has tied us together and we know India is technically and realistically the largest economy in the commonwealth. Commonwealth is important because of the BREXIT. India is the largest democracy, and we all admire it. So, the Indian influence across the Caribbean in Jamaica is very important and we look forward to these relationships growing stronger as we seek to reignite the effect of the commonwealth.   WION: How do you see the visit strengthening the relationship, especially with regard to the people-to-people ties? Aubyn Hill: The time is coming when soon the exchanges between India and Jamaica and other CARICOM countries will strengthen. And as India takes on a more important role, not only in the commonwealth but across the world, we will expect to see stronger trading ties. Trade is very important, and we have to make sure that the ties increase. Our people can offer services on the internet without not even leaving the country. We are looking for ways and means to increase the trade and people-to-people arrangements will strengthen between India and Jamaica and CARICOM.   WION: You are the commerce minister, are you looking at FTA between India and Jamaica or India or the Caribbean region.  Aubyn Hill: You know, I am looking at that kind of arrangement between India and Jamaica. We are the most important political-economic country in the CARICOM region. All of us know that. We would like to see trading ties between India and us increase, as we build infrastructure. I would like to see a lot more Indian contractors working in Jamaica. Of course, EXIM bank is a source of finance. When contractors from India come here, EXIM bank would usually follow them. Jamaica’s special economic zone is a place where Indian investors can put up their logistics hub not just to serve the Caribbean and Latin America, but also the largest economy—the US. It is easy to trade from Jamaica. We have English law, which gives great comfort to investors. We speak English and India is the largest English-speaking country in the world, given the population. So, we have that in common. Apart from that, there is proximity to the US; a free currency market, as we have no currency restrictions.  We have the largest English-speaking population, so there are good reasons why Jamaica should be looked at by Indian investors as a logistics hub, for the Caribbean and Latin America and indeed North America as well.   WION: Are you looking for wheat support from India amid the Russia-Ukraine crisis? Aubyn Hill: Well, I

Cabinet has approved the strategic framework for electric mobility, which will guide the introduction of electric vehicles (EVs) in Jamaica. Minister of Science, Energy and Technology, Hon. Daryl Vaz, made the disclosure during his contribution to the 2022/23 Sectoral Debate in the House of Representatives on May 10. “We are now waiting on the fiscal policy framework, which we expect to come to Cabinet, hopefully by Monday of next week, and once that is done, we will be in a position to actually outline to the country the new electric mobility policy,” Mr. Vaz said. He added that the manufacturers of these electric vehicles will not consider Jamaica or any other country until a policy has been tabled. “So, we are hoping to have that done and once that is done, we will start to see the inflows of electric vehicles and there will be some form of concessionary duty rate to encourage the use of these vehicles,” the Minister said. Mr. Vaz further noted that the Government is doing its part in ensuring the development of a thriving electromobility environment, adding that the Electric Vehicle Council has been established. The Council will give oversight and review any policies, legislation and regulations related to the deployment of EVs in Jamaica, and comment and provide feedback on matters relating to safety and suitability of EV technologies contemplated for the country.   Source: https://jis.gov.jm/work-in-progress-for-introduction-of-electric-vehicles/

KINGSTON, Jamaica — In a historic first for Jamaica and the Caribbean, Emirates Airlines, the largest airline in the Gulf Coast Countries (GCC), is now selling seats to Jamaica. This arrangement opens gateways from the Middle East, Asia and Africa to Jamaica and the rest of the region. Minister of Tourism, Edmund Bartlett, made the announcement on Tuesday following high-level meetings between Jamaica’s tourism officials and a team from Emirates Airlines led by Chairman of the Dubai World Trade Centre Authority and Chairman & Chief Executive, Emirates Airline, Sheikh Ahmed Bin Saeed Al Maktoum, held at the Arabian Travel Market (ATM) in Dubai. This groundbreaking agreement is a major outcome of Jamaica’s debut participation in the ATM, which runs from May 9 to12, 2022. According to Bartlett, “this is a major initiative for Jamaica as it is opening the Middle Eastern gateway from Asia and North Africa. It is the first time that Destination Jamaica has been entered into the ticketing system of a GCC airline and gives the Jamaica Tourist Board (JTB) significant leverage to negotiate direct flights to the destination.” Discussions began in October 2021 when Bartlett and Director of Tourism, Donovan White, made their first visit to Expo 2020 Dubai. Both Norman Manley and Sangster international airports are now listed in the airline system, with ticket pricing available accordingly. Flights are offered with options including JFK, Newark, Boston and Orlando. One option goes through Malpensa, Italy, allowing access to the European market as well. Importantly, the flights are being sold by Emirates Holidays. Bartlett’s trip to Dubai is part of a mega marketing tour to further boost growth in the island’s tourism industry, which includes stops in New York, Africa, Canada, Europe and Latin America, with breaks in between.   Source: https://www.jamaicaobserver.com/latest-news/emirates-airlines-now-selling-seats-to-jamaica/