Gov’t Facilitating Ease of Doing Business

Key legislative measures are being undertaken to improve the environment for doing business.

Presenting the Throne Speech during Thursday’s (February 13) ceremonial opening of Parliament in Gordon House, Custos of Kingston, Hon. Steadman Fuller, said that amendments to the Companies Act and Insolvency Act are advancing, to simplify business processes and support the rehabilitation of insolvents.

In addition, the Joint Select Committee of Parliament’s review of the Security Interest in Personal Properties Act (SIPPA) to improve financing for business has been finalised, so too the review of the Segregated Accounts Companies Act, 2024 to expand the financial services sector by attracting operators from outside of Jamaica.

Custos Fuller, who was deputising for Governor General, His Excellency the Most Hon. Sir Patrick Allen, said Jamaica continues to position itself as a financial services hub to attract greater international investment and high-value jobs.

He noted that significant progress has been made on the Jamaica International Financial Services Authority legislative suite, and the Limited Liability Companies Act, the Partnership (General) Act and the Partnership (Limited) Act are being amended to comply with global standards.