Businesses Encouraged to Take Advantage of Government Programmes

Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, has highlighted a range of Government incentives and financing mechanisms available to businesses, to reduce operating costs, acquire productive equipment and support expansion.

Senator Hill said programmes such as Productive Input Relief (PIR), along with financing from institutions including the National Export-Import Bank of Jamaica (EXIM Bank) and the Development Bank of Jamaica (DBJ), are intended to help businesses strengthen their operations.

Minister Hill was speaking at the South St. Catherine All Island Chamber of Commerce Luncheon Meeting on Saturday (August 15) at Rooftop Chillinz Restaurant in Old Harbour.

He said the PIR provides an incentive for qualifying businesses by allowing them to import productive equipment without paying customs duty and related costs.

The Minister gave the example of a major mining company that imported equipment valued at US$2 million under the programme and saved approximately US$500,000.

He said the benefit is also available to smaller businesses.

“So, if you’re going to start a juice business and you want four mixers and you’re importing them, you can get the same PIR,” he said.

Minister Hill said the programme is one of the ways in which the Government is helping businesses to improve their competitiveness by reducing the cost of acquiring equipment.

“We want you to use it,” he stated, noting that the incentives are intended to help businesses invest in their operations and grow.

The Minister also highlighted the contribution of the EXIM Bank to business financing.

He said the institution disbursed $2.1 billion in financing during the 2025/26 fiscal year, including $716 million to exporters, and approved 226 loans across manufacturing, agribusiness, tourism, services and export sectors.

He said the DBJ also offers programmes to help businesses access financing.

Senator Hill also pointed to the role of agencies within the Ministry of Industry, Investment and Commerce in helping businesses formalise and strengthen their operations.

These include the Companies Office of Jamaica, Jamaica Intellectual Property Office (JIPO) and the Bureau of Standards Jamaica.

Additionally, Minister Hill said the Government is working to update Jamaica’s intellectual property policy, which has not been revised since 2014.

The Minister encouraged businesses experiencing challenges with processes that affect commerce to bring their concerns to his Ministry.

“If it touches commerce at all, send me a note. Make your case and say…can you fix it for us? Don’t just talk…sit down and write it and I will respond and take it forward,” he stated.

Minister Hill urged business operators to engage the Government directly on challenges affecting commerce, noting that national development requires collective effort, adding that, “If we’re going to change this country…it can’t be just one or two or a couple of ministers. All of us have to get into this.”

“We are building a Jamaica that is an attractive destination for investment, a centre for trade and logistics and a hub for innovation, financial services, and other enterprises,” he said.

Minister Hill encouraged business owners to become familiar with the incentives and support mechanisms available and to use them to strengthen their operations and improve competitiveness.