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HomeFinance, MoneyJSEZA Creating Framework to Enable IP Companies to Benefit from Incentives

JSEZA Creating Framework to Enable IP Companies to Benefit from Incentives

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Chief Executive Officer, Jamaica Special Economic Zone Authority (JSEZA), Kelli-Dawn Hamilton.

The Jamaica Special Economic Zone Authority (JSEZA) is making significant strides in strengthening its offerings, with a key focus on creating a framework that will enable Intellectual Property (IP) companies to benefit from Special Economic Zone (SEZ) incentives.

This development forms part of JSEZA’s ongoing efforts to expand Jamaica’s SEZ landscape and attract investments in high-growth sectors, such as film production, green energy, artificial intelligence (AI) and pharmaceuticals.

Speaking on the new framework during a recent JIS News interview, JSEZA Chief Executive Officer (CEO), Kelli-Dawn Hamilton, highlighted the Authority’s priority areas.

“One of the things that we’re quite excited about at this time is the fact that we’re moving apace with the implementation of our intellectual property regime for special economic zones, which is being developed in partnership with our parent ministry, the Ministry of Industry, Investment and Commerce,” she said.

Mrs. Hamilton pointed out that the need for this framework arose following amendments to the SEZ legislation in 2022, which “halted entry of companies in the IP space into the SEZ, based on OECD (Organization for Economic Co-operation and Development) requirements.”

She noted that JSEZA is now streamlining processes to meet the necessary requirements, unlocking significant opportunities for IP-based industries.

“There’s growing interest from companies in the film sector to develop studios here in Jamaica, and we believe the SEZ regime will be a key tool in facilitating this growth efficiently. So we believe that the SEZ is a tool to get that done in a most effective and efficient way,” Mrs. Hamilton said.

Jis

https://jis.gov.jm/jseza-creating-framework-to-enable-ip-companies-to-benefit-from-incentives/?utm_source=newsletter&utm_medium=email&utm_campaign=world_fzo_weekly_news_19_november_2024&utm_term=2024-11-19

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