The Jamaica Special Economic Zone Authority (JSEZA) is making significant strides in strengthening its offerings, with a key focus on creating a framework that will enable intellectual property (IP) companies to benefit from Special Economic Zone (SEZ) incentives.
This development forms part of the JSEZA’s ongoing efforts to expand Jamaica’s SEZ landscape and attract investments in high-growth sectors such as film production, green energy, artificial intelligence (AI), and pharmaceuticals.
Speaking on the new framework during a recent JIS News interview, JSEZA Chief Executive Officer Kelli-Dawn Hamilton highlighted the authority’s priority areas.
“One of the things that we’re quite excited about at this time is the fact that we’re moving apace with the implementation of our intellectual property regime for special economic zones, which is being developed in partnership with our parent ministry, the Ministry of Industry, Investment and Commerce,” she said.
Hamilton pointed out that the need for this framework arose following amendments to the SEZ legislation in 2022, which “halted entry of companies in the IP space into the SEZ, based on OECD (Organization for Economic Cooperation and Development) requirements”.
She noted that the JSEZA is now streamlining processes to meet the necessary requirements, unlocking significant opportunities for IP-based industries.
“There’s growing interest from companies in the film sector to develop studios here in Jamaica, and we believe the SEZ regime will be a key tool in facilitating this growth efficiently. So we believe that the SEZ is a tool to get that done in a most effective and efficient way,” Hamilton said.
The JSEZA is also driving several large-scale projects, including development of the Caymanas Special Economic Zone, Olympus Xanadu 77 Technopolis, and Pandora Pharmaceutical SEZ.
With these at the forefront for the authority, Hamilton shared that the “goal at this juncture is to continue pushing ahead with achieving the buildout of them”.
She added that the Port Authority of Jamaica’s (PAJ’s) recent announcements regarding progress on the Caymanas SEZ have further underscored the country’s commitment to advancing these initiatives.
Hamilton further acknowledged the rising interest in SEZs from local and international investors.
“The team has done an incredible job increasing awareness of the SEZ opportunities, and we’ve seen a surge in interest across various sectors,” she said.
To ensure that these zones reach their full potential, the JSEZA will be collaborating closely with developers, real estate players, and potential occupants.
As part of its strategic push, the JSEZA is also looking to integrate more environmentally sustainable and cutting-edge technologies within its zones.
“We see where companies are operating in keeping with what is happening globally. So when we talk about artificial intelligence, we see a company like Adtelligent, which developed AI-driven software solutions to enhance their service delivery and offering,” the CEO noted.
She further pointed out that the authority is currently conducting a review of its legislation, regulations, and administrative processes to ensure that SEZs remain agile and aligned with Jamaica’s strengths as a near-shore destination for global businesses.
“We’re doing this because we recognise that we have to play to our strengths – our strategic location and resilient logistics infrastructure – and position ourselves accordingly,” Hamilton said.
Looking ahead to fiscal year 2025-26, the JSEZA is determined to build on the momentum from its current projects, closing this financial year strong and creating the right environment for sustained growth.