Stop watching from the sidelines!

MONTEGO BAY, St James — Minister of state in the Ministry of Industry, Investment and Commerce Delano Seiveright has expressed concern that while international investors are increasingly pouring billions of dollars into the country, too many Jamaicans are yet to take advantage of the opportunities unfolding in the Caribbean island. Jampro President Shullette Cox then rattled of a list of areas ripe for investment, including renewable energy, film production, logistics and other growth sectors.

They were both speaking, Monday, during the 11th Biennial Jamaica Diaspora Conference being held at the Montego Bay Convention Centre in St James.

In his address, Seiveright urged Jamaicans at home and abroad to become active participants in the country’s economic transformation by investing and building wealth-generating assets.

“My concern is not whether Jamaica’s future is bright. The evidence is already there. My concern is whether Jamaicans themselves will own enough of that future. Because while international investors are lining up around the block and investing billions of dollars across Jamaica, too many Jamaicans are still watching from the sidelines — too many!” he told delegates.

The conference is being held under the theme ‘Diaspora Partnerships: Re-Building a More Climate-Resilient Jamaica’.

Declaring that “Jamaica is changing and many people are beginning to notice”, Seiveright challenged members of the diaspora to seize emerging opportunities before others do.

“Do not wait until everybody else tells you Jamaica is a place to invest. By then you may be too late. Come home, invest, partner, build, own,” he urged.

Stressing that Jamaica is currently one of the most attractive investment destinations in the region, Seiveright pointed to several positive indicators, including declining crime rates, exchange rate stability, infrastructure expansion and political stability.

Minister of state in the Ministry of Industry, Investment and Commerce Delano Seiveright speaking Monday, during the 11th Biennial Jamaica Diaspora Conference being held at the Montego Bay Convention Centre in St James. (Photo: Joseph Wellington)

Describing crime reduction as a major success, he noted that Jamaica recorded approximately 673 murders in 2025, down sharply from roughly 1,100 in 2024 and less than half the 1,400 murders recorded in 2023.

According to Seiveright, this reduction was the result of “sustained investment, intelligence-led policing, stronger institutions, supported by approximately $90 billion in national security investments”. He also highlighted major infrastructure projects, including the Montego Bay Perimeter Road and the planned Long Hill Bypass, which he said will significantly improve transportation links across western Jamaica.

The minister of state further argued that Jamaica’s economic fundamentals continue to inspire confidence among global investors.

“Now that level of stability, investors notice it, banks notice it, ratings agencies notice it and, increasingly, global capital notices it. Political stability matters too. Jamaica remains one of the most stable and vibrant democracies anywhere in the developing world,” he said.

While acknowledging global economic uncertainties, Seiveright — who pointed to the relative stability of the Jamaican dollar — maintained that Jamaica is “stronger, more stable, more investment ready than at any point in our modern history”.

When she took the podium during the first of the three-day event, Jampro’s Cox elaborated on Seiveright’s earlier point that international credit rating agencies continue to send positive signals about Jamaica’s economic outlook.

“We have three standard credit rating agencies that rate our economy. It’s worth noting that in the aftermath of Hurricane Melissa — one of the worst hurricanes to hit this world, not just our country — all three still gave Jamaica incredible ratings and have our outlook for economy as stable,” she said.

These favourable assessments, Cox said, underscore the confidence international partners have in Jamaica’s economic management and resilience.

Jampro President Shullette Cox addressing Monday’s session of the 11th Biennial Jamaica Diaspora Conference being held at the Montego Bay Convention Centre in St James.  (Photo: Joseph Wellington)

She also pointed to the country’s advantages in terms of connectivity and Jamaica’s maritime infrastructure as major assets, noting that the Kingston Container Terminal has a capacity of 3.2 million 20-foot equivalent units.

Among the incentives available to investors, Cox pointed to provisions under the Fiscal Incentives Act which, she stressed, are available to both foreigners and members of the diaspora.

“That’s a graduated corporate income tax. Our banks are at 33 1/3 per cent, but most companies are at 25 per cent,” she explained.

Turning her attention to an area the Government has been trying to push, Cox also encouraged investment in Jamaica’s growing film industry.

“We need a film studio, and with co-productions we’re inviting more companies to come home and invest in film,” she said.

The Jampro president also highlighted upcoming opportunities in renewable energy as the Government seeks to reduce dependence on imported oil.

“There’s a new RFP [request for proposal] that is coming out in August this year. The RFP is where you will signal your interest in investing in this sector. They’re asking for 220 megawatts of additional renewable generation, and 110 megawatts of battery energy storage systems,” she disclosed.

The conference runs until Wednesday.