NAME OF FEATURE | THE GLEANER | SUNDAY, FEBRUARY 2, 2025 34 INTERNATIONAL CUSTOMS DAY/CUSTOMS WEEK FEATURE JAMAICA HAS long been celebrated for its vibrant culture, stunning landscapes, and lively sports and entertainment scene. However, the island nation is also emerging as a dynamic destination for trade and logistics, reinforced by a robust Special Economic Zones (SEZ) regime. This well-crafted framework aims to stimulate economic growth, create jobs, and enhance world-class infrastructure across the island. The Jamaica Special Economic Zone Authority (JSEZA), operating under the Ministry of Industry, Investment and Commerce, oversees this initiative, playing a vital role in Jamaica’s economic development by nurturing a conducive environment for businesses to flourish. ROLE AND RESPONSIBILITY OF JSEZA The JSEZA’s core mandate encompasses the facilitation, regulation, and promotion of SEZs throughout Jamaica. The agency ensures that businesses within these zones adhere to the established legal framework while simplifying processes and providing essential guidance. The Authority’s support begins from as early as the concept stage of a project and continues through all stages of the business life cycle. SEZ companies benefit from a low corporate income tax rate of 12.5% which can go to as low as 7.75% with the application of promotional and employment tax credits. Additionally, companies pay 0% duty for items imported for use in the zone and 0% value added tax or General Consumption Tax. Currently, Jamaica’s SEZ regime is home to 111 companies across myriad sectors, including manufacturing, logistics, information and communication technology (ICT), global digital services, and real estate development. These enterprises benefit from an array of tax and customs incentives that lower operational costs and enhance global competitiveness. A new entrant to the SEZ regime providing new services and supporting the logistics cluster development is the German Ship Repair Jamaica (GSRJ) SEZ. This facility has not only bolstered Jamaica’s maritime sector but also plays a pivotal role in transitioning the country into a global logistics hub. Offering advanced ship repair and maintenance services, GSRJ has introduced cutting-edge technologies and best practices into ship repair, fostering skills development and technology transfer in collaboration with local and international institutions. The SEZ regime serves as an ecosystem that fosters collaboration among businesses both within and outside the zones. This synergy creates a multiplier effect that stimulates Jamaica’s overall economic landscape. Enterprises in the SEZs are encouraged to exchange goods and services with one another, as well as engage local businesses, thus generating revenue streams that significantly contribute to national growth. Recognizing the importance of its mandate and the needs of its stakeholders, JSEZA has undertaken digitisation initiatives. Major processes, such as the application and reporting procedures, are being automated and will be accessible via the Jamaica Business Gateway, streamlining operations and enhancing efficiency. COMMITMENT TO SUSTAINABLE DEVELOPMENT The Authority is dedicated to enhancing the ease of doing business and fostering sustainable development within the SEZs. Collaborating closely with the public and private sector, JSEZA actively promotes sustainability across all operations through its Sustain-A-Livity initiative, which balances economic growth with environmental stewardship and corporate social responsibility. The Authority encourages the adoption of energy-efficient technologies, effective water management systems, and renewable energy solutions. SYNERGY WITH THE JAMAICA CUSTOMS AGENCY The effective functioning of SEZs hinges on a robust partnership with the Jamaica Customs Agency (JCA). Acting as a critical ally to JSEZA, the JCA ensures compliance with national trade regulations while facilitating ease of movement of goods in and out of SEZs. One of the primary benefits available to businesses within the SEZs is the duty-free importation of raw materials and machinery. The JCA plays a pivotal role in streamlining customs clearance processes and making Jamaica a more attractive investment destination. This partnership is crucial for maintaining legal adherence and preventing abuse of the duty-free incentives granted to SEZ businesses. Through joint efforts, both entities also ensure that national and international regulations are enforced, preserving the integrity of Jamaica’s trade ecosystem. SIMPLIFYING BUSINESS OPERATIONS Improving the ease of doing business remains a top priority for the Jamaican government, which has made significant strides in simplifying regulatory processes and minimising bureaucratic hurdles. A pivotal initiative in this pursuit is the digitisation of services. The Business Gateway, an online platform for business registrations and licensing, expedites the approval process and significantly reduces the time investors spend navigating administrative procedures. To bolster efficiency even further, the JSEZA is aligning the period of validity of SEZ Operating Certificates to align with the length of the Licence Agreements. Companies will, therefore, no longer be required to renew their Operating Certificates annually. This is designed to ensure business continuity for potential investors. Additionally, JSEZA is focused on continuous improvement, undertaking initiatives to automate key services and providing more efficient services for investors. COMMITMENT TO CLIENT SUPPORT At the heart of JSEZA’s mission is a strong commitment to delivering comprehensive support services to clients. From finance access to technical assistance and training programs, JSEZA offers a range of resources aimed at empowering businesses within SEZs. Initiatives like the SEZ Unplugged workshop and the SEZ Accelerator series are designed to enhance local workforce skills and develop a cadre of certified SEZ representatives who can proficiently guide clients through the necessary procedures. A significant step in improving business operations in SEZs is the establishment of the Business Acceleration Centre (BAC). Located at Kingston Wharves, the BAC serves as a one-stop-shop for stakeholders, providing access to essential government services through the JSEZA, including business support services including facilitation of tax and customs inquiries. By centralizing these services, JSEZA minimizes the time and effort required to navigate multiple regulatory agencies, delivering a seamless experience for businesses. ONGOING PARTNERSHIP The ongoing partnership that the Jamaica Special Economic Zone Authority has with the Jamaica Customs Agency has resulted in improved efficiency, compliance, and customs control within our SEZs. JSEZA remains steadfast in its commitment to collaborating with the JCA to create a sustainable trade and logistics ecosystem that benefits all stakeholders. Together, we aim to foster an environment where businesses can thrive and contribute meaningfully to Jamaica’s economic growth and development. Submitted by: Jamaica Special Economic Zone Authority UNLOCKING ECONOMIC POTENTIAL: JAMAICA’S SPECIAL ECONOMIC ZONES The entrance of trade is where our nation’s gains flow, Customs stands where vigilance grows. With eagle eyes, a steady hand, They guide our borders across the land. Efficiency is their guiding star, For goods to journey from near and far. The streamlined bulk isn’t a burden, With a dedicated team every task is surmountable. Our security procedures detect threats both seen and unseen, Lock away contraband that goes against dangers unforeseen. A peaceful nation, forever secure. Prosperity is their ultimate aim, To serve all the human race. By collecting revenue and enforcing regulations, To sustain development of the nation. To foster growth, innovation and facilitate trade. Cheers to our officers, for their long hours, They stood strong like the twin towers. No recoiling, but recharging on different shifts, Your tireless toil, along with our help, Is for you, us, the nation and the future. By Bo Derek McPherson Records Officer Finance & Administration Division, JCA ‘Customs Delivering on its Commitment to Efficiency, Security and Prosperity’ Creative piece
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