 Jamaica Business Environment |
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| Jamaica's favorable climate for investment and trade is based on its stable government, independent judiciary, strategic geographical position, English speaking population, tropical climate, extensive infrastructure including efficient telecommunications, the availability of both skilled and semiskilled labour, stable Industrial environment, diversified and well developed capital market, increased privatization of public sector companies, no foreign exchange controls, liberal export incentives and liberal import policies. |
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| JAMAICA |
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Jamaica is the third largest island in the Caribbean and the largest English-speaking, it has an area of 11,000 sq km and has the world’s seventh largest natural harbour (Kingston Harbour). Its main tourist areas are Negril, Montego Bay, Ocho Rios and Port Antonio. Its major attractions include Dunns River Falls, Negril beach and the Blue Mountains. The resident population is 2.6 million in a multi-racial society.
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| JAMAICA – Air & Shipping |
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| Jamaica has two international airports, three commercial aerodromes with many daily flights to North America and Europe. Jamaica enjoys a central and strategic location for connecting shipping from the rest of the world especially Asian and European trade routes with the Americas. There are nine active ports. The Kingston Container Terminals is now fully computerised and has throughput of over 1,200,000 TEU’s, moving from 51,000 TEU in 1975. |
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| JAMAICA - Telecommunications |
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Jamaican dynamic transformation of its telecommunications sector began with a far reaching agreement with the monopoly provider in 1999 which led to a fully liberalized market in March 2003. Liberalization of the sector has fuelled explosive growth of mobile telephone subscribers from 300,000 in 1999 to 2.86 million in 2007. The sector has attracted over US$500M in investment since 1999.
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| JAMAICA - Foreign Exchange & Reserves |
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Jamaica enjoys a liquid & stable foreign exchange market, healthy NIR: $2 billion (20 weeks of imports at April 2005)(Delete) and private sector foreign currency deposits of $1.8 billion at March 2005.
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| JAMAICA /CHINA Trade |
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| Jamaica is China’s largest trading partner in the English speaking Caribbean. The major export commodity from Jamaica is bauxite/alumina (inputs for making aluminum). Major imports from China are tyres, clothing, household items and other consumer goods. |
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| JAMAICA Investment Framework |
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| Jamaica investment environment is enhanced by bilateral investment treaties, double taxation agreements, special tax and incentive facilities in key sectors – tourism, advanced information and communication technology, special access to major markets, capital mobility, and duty exemptions on capital goods and raw materials. |
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| JAMAICA – Investment Flows |
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| Over the last ten years, Jamaica’s FDI has increased from US$130 million to US$548 million with solid and diverse sources of foreign currency inflows. Consistently favorable assessment from international financial institutions and positive reviews from rating agencies have been matched by increased investor confidence. |
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JAMAICA - Information and Communication
Technology |
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Jamaica’s telecommunications advance has provided the backbone for significant expansion in information and communication technology. The information and communication technology industry now comprises over 275 companies. The contact/call centre sub-sector has over 3,000 seats. The Government has approved an E Transactions Policy and put in place an E Transactions Act. |
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| JAMAICA – Trade Policy |
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Jamaica revised its trade policy in 2001 with emphasis on national consultation and modernisation of trade regulatory infrastructure. New measures have been implemented to address anti dumping, safeguards, fair competition, consumer protection, intellectual property, licensing and standards. Jamaica remains actively engaged in negotiations at the regional (CARICOM), and multilateral (WTO) levels. |
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