EFFECTIVE April 1, 2025, the Jamaica Special Economic Zone Authority (JSEZA) will revise the special economic zone (SEZ) framework to eliminate the need for annual renewals of SEZ Operating Certificates for developers and occupants.

Under the revised framework, operating certificates for developers will now extend for the duration of the licence agreement, while occupants’ certificates will match the length of their sub-concession terms.

According to the JSEZA, by removing the annual renewal process it is committed to reducing administrative burdens, promoting investment stability, and fostering increased productivity within the SEZ ecosystem.

The authority’s CEO, Kelli-Dawn Hamilton, told JIS News that, “Our goal is to create a conducive business environment where SEZ operators can focus on growth and long-term success, and by streamlining the licensing process, we are empowering businesses to thrive without the interruption of yearly renewals.”

Hamilton added that this amendment is part of an overarching review of the SEZ regime, aimed at making it more adaptable and responsive to private-sector needs.

“Our focus is on innovation, productivity, and ensuring that the SEZ ecosystem remains robust and well equipped to meet the evolving needs of stakeholders,” added Hamilton.

She pointed out that the SEZ regime has experienced remarkable growth, with 114 entities, including developers, single entities, and occupants currently operating across 145 locations.

“Of these, 37 companies achieved SEZ designation within the past two years, contributing to a vibrant ecosystem of industries, such as global digital services, agro-processing, manufacturing, and logistics,” added Hamilton.

Collectively, these entities employ over 43,000 individuals and drive significant economic activity in Jamaica.

She said with this significant increase, JSEZA remains dedicated to improving operational efficiency and creating opportunities that extend beyond the authority and business community to benefit the wider Jamaican economy.

“The future will be one of innovation and productivity as we strive to enhance SEZ contributions to Jamaica’s economy and the global community,” said Hamilton.

According to the CEO, by aligning operating certificates with the terms of existing agreements, the JSEZA is taking a key step towards operational efficiency, reducing bureaucratic hurdles, and reinforcing its commitment to fostering economic growth.

The new framework is also expected to enhance Jamaica’s position as a competitive destination for global investment and innovation.

— JIS