Seiveright says reforms fuel manufacturing growth

The Government is intensifying its push to revitalise the country's manufacturing industry through targeted incentives and policy reforms aimed at boosting investment, enhancing competitiveness, and reducing reliance on imports.

State Minister in the Ministry of Industry, Investment and Commerce, Delano Seiveright, said the Government has been working to create a more enabling environment for manufacturers.

Central to this effort are a range of initiatives designed to lower production costs and encourage expansion. Among them is the Productive Input Relief (PIR) programme, which allows approved manufacturers to import raw materials, machinery, and intermediate goods duty-free, while benefiting from reduced administrative fees and tax deferrals.

The recently introduced Accelerated Capital Allowance regime is also playing a key role, enabling businesses to write off capital investments more quickly. This measure is expected to improve cash flow and support companies in upgrading equipment, expanding operations, and increasing productivity.

Seiveright said the policies are supporting private-sector growth and expansion. He said this was demonstrated by the recent opening of the SEEK Factory and Warehouse Hub by Stationery & Office Supplies Limited (SOS) in Kingston.

Speaking at the event, State Minister Seiveright pointed out that SOS, which is listed on the Junior Market of the Jamaica Stock Exchange, generated approximately $1.8 billion in revenue in 2024 and has long served as a key supplier to businesses, educational institutions, and government entities across the island.

He added that the "newly unveiled facility represents an investment of $185 million and is expected to significantly boost production capacity by 300 per cent. This expansion is being driven by the integration of automated bookmaking technology and streamlined end-to-end operations".