Jamaica Aims to Bring in More Sustainable Investments in 2022

Jamaica’s Vision 2030 development plan aims to transform the island’s economy, as the country’s government continuously develops and seeks ground-breaking investments that can speed up economic and social growth.

The investment projects in question will generate economic rewards, as well as sustainably create new avenues for development in communities, towns, and cities, and will lead to significant improvement in Jamaica’s overall business environment.

Senator Aubyn Hill, Minister of Industry, Investment and Commerce, Jamaica, said that the government has multiplied significant resources to create an enabling environment for economic growth. He added, “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.”

“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.”

The main goal is to encourage and process the development of products and services that will improve the lives of the island’s people. These products and services will also use technology to advance sectors like agriculture, manufacturing, tourism, and others.

There are a number of pioneering sustainable investment projects that are currently under development in 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.

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.