JAMPRO
As Jamaica pursues its Vision 2030 development plan which will transform the island’s economy, the country’s government continues to develop and seek innovative investments that can accelerate economic and social growth.
These investment projects will not only provide economic rewards, but will also be sustainable, create new avenues for development in communities, towns, and cities, and will lead to significant improvement in Jamaica’s overall business environment.
Jamaica’s Minister of Industry, Investment and Commerce, Senator the Honourable Aubyn Hill, noted that the government has expended significant resources to foster an enabling environment for economic growth. “Our long term goal is for investment products and partnerships that are sustainable, that will energize our economy and drive positive change at all levels of society,” the Minister underscored.
“We consider innovative investments to be all about sustainability, transformation and expansion ,” explained Norman Naar, Vice President of Sales and Promotions at Jamaica’s investment and export promotions agency, JAMPRO. “These investments will help to protect our environment, meet the challenge of climate change, and create employment opportunities across the society. They will make Jamaica more competitive and strengthen connections between investors and suppliers .”
Ultimately, the goal is to encourage and facilitate the development of products and services that will enhance the lives of the island’s population. These products and services will also use technology to advance sectors like agriculture, manufacturing, tourism, and others.
Innovative investment projects already underway – with more to come
There are a number of innovative and sustainable investment projects already underway within the Jamaican economy.
In the energy sector, there are three significant solar and wind energy projects generating 115MW kWh in renewable energy; approximately 14 percent of energy generation. Renewable energy is a significant part of Jamaica’s Integrated Resource Plan, which aims to achieve 30 percent of electricity generation from renewables by 2030.
These projects include the 20-megawatt (MW) Content Solar Ltd. solar energy electricity generation plant owned by WRB Energy Company; the Wigton windfarm with a 20.7 MW plant and an 18 MW extension facility, the largest wind energy facility in the English-speaking Caribbean; and Jamaica’s largest photovoltaic power plant, the 51 MWp (megawatts-peak) Paradise Park solar farm, one of the cheapest producers of energy in the country.
In manufacturing, the government has highlighted the island’s “clean beauty” sector as an area of focus, where investors would partner with local manufacturers of beauty products that use ethically sourced ingredients like local castor oil. Helping these local companies increase production and find additional markets will increase employment in the communities from which they source their workers and boost the manufacturing industry.
Another area of focus in manufacturing is the transformation of plants like bamboo to create raw materials and value-added products. The Bamboo Bioproducts (BBP) project, for example, will be the world’s first fully integrated bamboo pulp mill, using a sustainable agro-ecological-industrial model. Locally grown bamboo acquired from company-owned lands and managed farms across the island will be used to manufacture bamboo pulp, which will be exported to global markets.
In tourism, there are opportunities to create wellness and eco-tourism projects that will protect Jamaica’s environment, while building on the country’s strong brand as a destination for visitors.
With regards to agriculture, Naar revealed, “We are seeking innovative investments in agribusiness that can improve the sector’s resilience, profitability, and output. In the leveraging of technology in agriculture, we look to reduce risk of theft, improve consistency and significantly increase yield or scale of production. Therefore, we have a major drive to increase the use of agriculture tech or Agtech as it is also known. ”
This includes the creation of projects that have Agtech elements like controlled environment agriculture, automation of commercial greenhouses, and precision farming. Climate smart agriculture and climate-resilient crops are also needed.
Investment in medicinal plants and the cannabis industry will provide the opportunity to boost medical research and will lead to the development of pharmaceuticals and nutraceuticals.
Priority Investment Project initiative will facilitate more investments
To increase the level of these innovative investments that are sustainable, and to create economic benefits and local business and community involvement, the government has launched the Priority Investment Project Initiative as part of Jamaica’s National Investment Policy.
The initiative prioritizes projects that will have high performance in areas like economic impact, innovation, linkages, investment in internationally competitive industries, and developmental impact on the local economy. Once a project meets the required standards and is approved by Jamaica’s Cabinet, the investors will receive non-fiscal benefits to assist in overcoming challenges they may face with the venture.
Regarding the initiative, Minister Hill said, “We are serious about fostering investments that bring innovation to the Jamaican economy, and that includes working with investors as partners in achieving their goals. This priority investment initiative will help us to give these projects even more support; at the same time, it helps to ensure that we meet our Vision 2030 objectives through projects that will provide a major boost to our economy and society .”
ABOUT JAMPRO
The Jamaica Promotions Corporation (JAMPRO)’s mission is to drive economic development through growth in investment and export. JAMPRO is an Agency of the Ministry of Industry, Investment, and Commerce. For more information on JAMPRO, please visit https://dobusinessjamaica.com/ .
Follow us on:
View source version on businesswire.com: https://www.businesswire.com/news/home/20220531005258/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Deciphera Announces Oral Presentation of Positive Topline Results from Phase 2a Study of Sapablursen in Polycythemia Vera at the 67th American Society of Hematology (ASH) Annual Meeting6.12.2025 15:30:00 CET | Press release
Results from Phase 2a IMPRSSION study demonstrate sapablursen significantly reduced phlebotomy rate, controlled hematocrit and increased serum hepcidin Sapablursen was generally safe and well tolerated Results support further development of sapablursen in a Phase 3 study Deciphera Pharmaceuticals, a member of Ono Pharmaceutical Co., Ltd. (Headquarters: Osaka, Japan; President and COO: Toichi Takino; “Ono”), today announced the oral presentation of positive results from the Phase 2a IMPRSSION study of sapablursen in patients with polycythemia vera (PV) at the 67th American Society of Hematology (ASH) Annual Meeting, taking place December 6-9, 2025, in Orlando, FL. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251206361611/en/ The results were presented by Ionis Pharmaceuticals, who discovered and developed sapablursen and conducted the IMPRSSION study. In March 2025, Ionis and Ono entered into a license agreement in which On
Protagonist and Takeda Present Longer-Term Data at ASH 2025 Showing Rusfertide Delivers Durable Response and Hematocrit Control in Polycythemia Vera6.12.2025 15:30:00 CET | Press release
52-Week Results from the Phase 3 VERIFY Study of Rusfertide Demonstrated Sustained Hematocrit Control and Response, Defined by Absence of Phlebotomy Eligibility, with No New Safety SignalsThese Data Build on Positive 32-Week Primary Analysis from VERIFY, Which Met its Primary Efficacy Endpoint and All Four Key Secondary EndpointsPatients Crossing Over from Placebo to Rusfertide at 32 Weeks Achieved a Similar Response Rate to Those Initially Randomized to Rusfertide, with 77.9% Achieving Absence of Phlebotomy Eligibility Between Weeks 40-52Four-Year Results from the Combined REVIVE and Long-Term Extension THRIVE Study Demonstrated a 13-Fold Reduction in Annual Rate of Phlebotomies from Baseline Protagonist Therapeutics, Inc. (“Protagonist”) (NASDAQ:PTGX) and Takeda (TSE:4502/NYSE:TAK) announce that new 52-week results from the pivotal Phase 3 VERIFY study evaluating rusfertide in patients with polycythemia vera (PV) will be presented in an oral presentation at the 67th American Society
Vertex Presents New Data on CASGEVY®, Including First-Ever Data in Children Ages 5-11 Years, at the American Society of Hematology Annual Meeting and Announces Plan for Global Regulatory Submissions6.12.2025 13:01:00 CET | Press release
- Data from pivotal studies of CASGEVY in children ages 5-11 years with severe sickle cell disease or transfusion-dependent beta thalassemia demonstrates the transformative potential of the therapy in younger patients -- Efficacy and safety data in children 5-11 years are consistent with the durable and positive benefit/risk profile established from clinical studies in patients 12 years of age and older -- Vertex expects to initiate global regulatory submissions for CASGEVY in children 5-11 years in 1H 2026 - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced data from multiple studies demonstrating the clinical benefits of CASGEVY® (exagamglogene autotemcel) in people ages 5 years and older living with severe sickle cell disease (SCD) or transfusion-dependent beta thalassemia (TDT). The results, including the first presentation of clinical data from pivotal studies in children ages 5-11 years, and longer-term data from the pivotal studies of people with severe SCD and
Leading Global Scientists Gather at Tengchong Scientists Forum to Explore Innovative Pathways in Frontier Technologies6.12.2025 12:31:00 CET | Press release
The 2025 Tengchong Scientists Forum opened on Saturday in southwest China’s Yunnan Province, convening leading scientists and academic figures to examine innovation across frontier fields including artificial intelligence, biodiversity and quantum technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251205499197/en/ Opening ceremony of Tengchong Scientists Forum on 6th December, 2025 Notable participants include Nobel Physics laureate Konstantin Novoselov, Fields Medalist Efim Zelmanov and Turing Award winner Andrew Chi-Chih Yao, who join 127 academicians, 77 university presidents from China and abroad, over 400 scholars and more than 600 entrepreneurs and financiers. The gathering aims to deepen collaboration between cutting-edge research and industrial development. Under the theme “Science · AI changing the World,” the forum features ten sub-forums, academic sessions and thematic events supporting major cooperation p
Lattice Wins 2025 Global Semiconductor Alliance Award6.12.2025 00:49:00 CET | Press release
‒ Named Most Respected Public Semiconductor Company Achieving $100 Million to $500 Million in Annual Sales ‒ Lattice Semiconductor (NASDAQ: LSCC), the low power programmable leader, today announced that it was selected as ‘Most Respected Public Semiconductor Company’ at the 2025 Global Semiconductor Alliance (GSA) Awards. The GSA awards recognize companies that have demonstrated excellence through their success, vision, strategy, and future opportunities in the industry as determined by votes from GSA members. “We are honored to be recognized by the Global Semiconductor Alliance and our peers as one of 2025’s most respected public semiconductor companies. This recognition reflects the dedication of the Lattice team and the trust of our customers, partners, suppliers, and investors. Looking ahead, we remain laser-focused on driving innovation and strengthening our role as the trusted low power programmable leader for semiconductor and system solutions,” said Ford Tamer, Chief Executive
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom