The Jamaica Special Economic Zone Authority (JSEZA) is looking to expand Jamaica’s footprint in global markets, targeting strategic opportunities in Colombia, Mexico and El Salvador.
Kelli-Dawn Hamilton, the authority’s chief executive officer, who will participate in a business mission to these Latin American countries from July 17 to 26, said that the aim is to foster international partnerships and attract investments that will propel Jamaica’s economic growth.
Hamilton pointed out that JSEZA’s role in this mission is crucial, as they coordinate from the government side to penetrate new markets and pursue strategic opportunities.
“By engaging with our counterpart agencies, we have seen much success and are confident that this approach will yield substantial benefits for both our SEZ companies and the wider Jamaican private sector,” she said.
Among the key objectives of this mission is the authority’s promotion of the country’s large-scale SEZ projects, including the Caymanas SEZ, sports SEZ, Media City, technology hub, and manufacturing pharmaceutical SEZ.
“One of the major things that we have been talking about is the establishment of our large-scale special economic zone… so the intention here is really to push, on the investment side, for those projects as well as helping to identify potential markets for our existing SEZ companies,” Hamilton said.
As the marketing arm for Jamaica’s SEZ companies, “We have to go into the market with an understanding of what our companies have to offer, so that where they are not able to participate in missions, we are still able to represent the business interests that exist within our SEZ,” the CEO noted.
The authority will also work with Jamaica Promotions Corporation (JAMPRO) to provide timely and relevant information, facilitate the setup process for potential investors in Jamaica, and maintain collaborations to benefit existing SEZ companies.
As the mission aims to highlight Jamaica’s potential to become a logistics hub, especially given current global supply chain challenges, logistical considerations are paramount.
Hamilton explained: “We would have chosen these markets because of the potential opportunities, based on our own needs as a country, and our own vision of becoming a logistics-centred economy.”
To capitalise on the benefits, “We have to go out there and sell that opportunity and show that Jamaica has the potential to be an even larger nearshore destination for a number of companies, especially amidst issues related to the Panama and Suez Canals,” she said.
The overall mission is being spearheaded by the Minister of Industry, Investment, and Commerce, senator the Aubyn Hill.
Source: https://our.today/jseza-seeks-to-expand-countrys-footprint-in-global-markets/