Jamaica looking to establish 2 Special Economic Zones in the next 3 years – PM Holness

 Once the zones are in operation, they will facilitate a seamless “plug and play” framework for investors to create and nurture new industries.

Jamaican Prime Minister, Andrew Holness, has revealed that it is the intention of his administration to establish at least 2 Special Economic Zones (SEZs) in the country within the next 3 years.

He noted that work is already under way on the Caymanas Special Economic Zone in St. Catherine, where a comprehensive feasibility study has been undertaken.

The prime minister said he recently approved a Cabinet submission relating to development of the south side of the Caymanas lands.

“We are now going to have an investor come and ‘conference’ to determine the level of interest that is in the market to start this kind of development,” he noted.

Holness was addressing the Ministry of Economic Growth and Job Creation’s Strategic Leadership Retreat on June 6. He outlined that his administration is currently in the process of finalizing negotiations for the north side of the Caymanas lands and “as soon as that is done, I will be informing the public as to where we are”.

“I can see, spatially, that we can very well have the entire Caymanas area developed as an SEZ connected by the significant investments already made on the Mandela Highway and Spanish Town Road going straight into our ports,” Holness pointed out.

“The train line is already there, which runs in proximity to Caymanas. So we have everything already in place to have one of the most successful SEZs within the region. Now, can you imagine the level of employment that would bring,” he added.

“So I am giving the government 3 years to get it up and running. It’s going to be a long process because we have to do the procurement, we have to find the right contractor to do it, and that will take some time,” he pointed out.

The prime minister outlined that once the zones are in operation, they will facilitate a seamless “plug and play” framework for investors to create and nurture new industries.

“So, the investor, who is coming to do business is not coming to worry about getting permit for this, permit for that, deal with contractors and workmen, sourcing materials and all that. That’s not what they are coming to do. They are just coming to do their business. So whether they are into cosmetics, information and processing or high-level research, they just come, the space is ready, they plug in their computers and they start working. That is the concept of the SEZ,” he explained.

Source: Jamaica Information Service