Gov’t to Push Major Investment Projects Through Fast Jamaica

The Government of Jamaica is advancing the national growth strategy through the introduction of the Facilitated Acceleration of Strategic Transformation (FAST Jamaica), a new framework designed to accelerate major investment projects and economic growth.

Prime Minister, Dr. the Most Hon. Andrew Holness, made the announcement during his contribution to the 2026/27 Budget Debate in the House of Representatives on Thursday (March 19).

“FAST Jamaica will establish a dedicated pathway to fast-track strategic priority investment projects critical to Jamaica’s economic transformation, particularly those with an investment value of US$150 million or more that can commence implementation within a year and could be integrated into the National Reconstruction and Resilience Authority (NaRRA) network of projects,” he said.

Dr. Holness informed that the framework will focus on projects in sectors that will shape Jamaica’s competitiveness, such as energy infrastructure; digital infrastructure and telecommunications; logistics, air and seaports; water, sewage and desalination; low-income housing and urban development.

Other sectors are high-value tourism such as wellness, medical and sports tourism; entertainment and the creative industries; science, technology, engineering and mathematics (STEM) education and research; specialised healthcare; high-value agriculture and agro-industrial processing; advanced manufacturing; and critical minerals, including rare earth elements.

The Prime Minister said Cabinet will retain the ability to designate additional sectors where strategic opportunities arise.

Central to FAST Jamaica will be a Strategic Investments Council – a high-level body tasked with the initial screening and evaluation of major investment proposals.

Dr. Holness noted that elements of the initiative already exist within Jamaica Promotions Corporation (JAMPRO), Development Bank of Jamaica (DBJ) and the Cabinet Office.

“The Council will assess the strategic merit, economic impact, and national interest considerations of each proposed project and will recommend to Cabinet the most appropriate development modality, whether public-private partnership, joint venture, concession arrangement, or otherwise, as well as whether the project should proceed through direct negotiation or a competitive process,” he told the House.

Projects approved by Cabinet will be designated Strategic Investment Projects and will benefit from accelerated approvals across Government, coordinated regulatory engagement, and dedicated facilitation teams to ensure efficient execution.

FAST Jamaica will also allow the Government, where appropriate, to engage with unsolicited proposals from investors, recognising that some of the most transformative projects originate from private-sector proprietary knowledge.

“FAST Jamaica is not about weakening safeguards; it is about modernising how the Government partners with strategic investors in a fast-moving global economy. Fiscal exposure will continue to be rigorously assessed by the Ministry of Finance and the Public Service,” Dr. Holness said.

He noted that Cabinet will retain full oversight of final agreements.

“But what will change is the speed, coordination, and clarity with which Jamaica engages with major investment opportunities. Together, these reforms represent a fundamental shift in Jamaica’s execution architecture. They answer the question that has haunted this nation for too long: ‘why does so much promise take so long to become reality?’,” he said.