Investment Climate
Investors in Jamaica have access to the Caribbean Common Market (CARICOM) and the US Market, and enjoy the benefits of the Free Trade Areas of the Americas (FTAA).
Highly Skilled and Trainable Work Force
The Jamaican government is actively developing an education system that will produce a confident and efficient labour force to meet the growing demands of its booming economy. Companies that invest in Jamaica have immediate access to a highly skilled and adaptable workforce of approximately 1.2 million.
Investment Friendly Incentives
In order to encourage foreign investment into Jamaica, the Jamaican government has put together a comprehensive and attractive package of incentives in line with World Health Organization (WHO) agreements. Investors will have to satisfy development criteria concerning location, employment levels, investment size, and research and development plans before incentives are granted. To minimise bureaucratic delays, the government has established a business facilitation unit which has reduced the application process by as much as 50%.
Fully Digital Telecommunications
Investors and residents have full access to Jamaica's fully digital telecommunications services. Digicel, Centennial and Cable & Wireless are service providers and the island has opened up the market further to encourage international voice, telephony and fixed wireless services.
World Class Containerised Transshipment Port
Strategically located between North and South America, The Kingston Containerised Transshipment Port is a fully modernised transshipment port with capacity to accommodate mega cruise liners.
Sophisticated Ship Registry Facilities
Jamaica has one of the most modern ship registry facilities in the world. International vessels registering under the Jamaican flag can benefit from the country ’s neutrality, transparency and confidentiality as well as enjoy reasonable rates. They will receive 24 hour access to the country’s ports, prompt service and tax breaks, as well as discounts. There are also no restrictions on the nationality of the carriers.
Inland Network
The island's main inland connector is Highway 2000, a 230km multi-lane highway running from Kingston, through Montego Bay to Ocho Rias. Construction of the highway has spawned intense development of the Vernmafield Cargo Airport, the Milk River Spa, New Town in Clarendon and a Maroon Theme Park in the Cockpit Country.
Modern Public Transportation System
The public transportation system in the Kingston Metropolitan Region (KMR), Spanish Town, Portmore and Montego Bay runs a modern fleet of over 600 buses and two depots. The taxi services are regulated and plans are under way to revive the existing railway system and to run a ferry service to facilitate cruise ship stops at Black River, Lucea, Montego Bay and Port Antonio.
Regulatory Environment
The Jamaican government has implemented tough legislation (endorsed by the International Monetary Fund (IMF), the multilateral and rating agencies, as well as the private capital markets) to protect the integrity of the island's financial systems. With one of the most liberalised regulatory environments in the world, there are no constraints to capital flow in or out of the country, and no exchange controls.
Stable Democracy
Jamaica has one of the most stable democracies in the world. All major political parties and the Electoral Advisory Committee are committed to ensuring democracy for Jamaica's future.
