Jamaica Well on the Way to Becoming Top Destination for Investments in Caribbean

Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, says Jamaica is well on its way to becoming a top destination for business and investment in the Caribbean, thanks to a series of economic and structural reforms.

Addressing the Caribbean Investment Forum (CIF) 2025 at the Montego Bay Convention Centre in St. James on July 29, Senator Hill said the country’s stable macroeconomic environment and investor-friendly policies have laid a strong foundation for growth.

“Jamaica has had eight consecutive years of fiscal surpluses. We’re running a debt-to-GDP (gross domestic product) ratio of 74 per cent, down from 147 per cent. We have 4.2 per cent unemployment and record-high foreign exchange reserves. These are not coincidences; they are the result of hard work and strategic reforms,” he emphasised.

Senator Hill pointed to Jamaica’s work with multilateral institutions to improve the ease of doing business and strengthen key sectors, particularly logistics, technology and agro-processing.

“We’re putting in the business environment, the digital and physical infrastructure needed to drive investment. I believe in encouraging innovation, helping entrepreneurs and getting MSMEs (micro, small and medium-size enterprises) ready for export,” he added.

The Minister also underscored Jamaica’s leadership role in the region.

“As a CARICOM nation, we want to make sure that all the countries in the region benefit. We are working on bringing CARICOM closer together, in trade, in transport, in business,” he noted.

For her part, Minister of Finance and the Public Service, Hon. Fayval Williams, said the country’s fiscal gains have been hard-earned.

“We have pursued fiscal responsibility over time, and we’re seeing the results. These were not easy decisions but they were necessary,” she outlined.

The Minister reassured that Jamaica’s commitment to prudent economic management is long-term.

“We’ve gone through the tough times, including a global pandemic, and we stayed the course. The reforms were painful but they laid the foundation for resilience and growth,” she said.

Minister Williams underscored that these reforms are part of a wider strategy to build confidence and attract investments.

“Investors want to see discipline, transparency and a predictable environment. That’s what we’ve been delivering,” she said.

The CIF forum, which lasts until July 31, brings together policymakers, investors, entrepreneurs and private-sector leaders from across the Caribbean and beyond to discuss investment best practices and other key topics.

Source: JIS