Jamaica Manufacturers and Exporters Association Expo 2025
Keynote Address
By
Dr the Most Honourable Andrew Holness ON, PC, MP
Prime Minister of Jamaica
At the
Jamaica Manufacturers and Exporters Association Expo 2025
On
April 3, 2025
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Senator Hill, let me thank you for the maintenance of the protocol order.
I am aware that you have been waiting for some time and, therefore,
Distinguished guests,
Members of the Diplomatic Corps,
Industry leaders,
Honoured exhibitors and buyers,
Ladies and gentlemen, good evening.
It gives me great pleasure and pride to open Expo 2025. This event has grown tremendously, now standing as the largest trade exhibition in the English-speaking Caribbean, an extraordinary testament to our nation’s entrepreneurial spirit, ingenuity and ambition.
Expo Jamaica exemplifies how far Jamaica has come, with over 250 exhibitors showcasing more than 5,000 products and services alongside 884 registered local and international buyers from 25 countries. This clearly reflects Jamaica’s growing global influence and appeal. The theme, “Global Partnerships, Local Impact: Advancing Jamaica’s Reach”, resonates deeply with my government’s vision for inclusive and resilient growth. Our journey towards economic stability has been profound. Jamaica today boasts its strongest economy since independence.
Today, I had a courtesy call from a church group. The demographics were representative of Jamaica, and we had a general discussion about how the Jamaican economy has progressed through the 60s, 70s, 80s, and 90s. Someone, a 46-year-old gentleman, pointed out to me, he said, “Prime Minister, I did not know the economic history of Jamaica, and therefore it’s very difficult for me to compare how well the economy is doing relative to its past.” For me, I expect this; that was essentially his perspective, but to his literal elder in the church, he could point out and agree without hesitating, applause or fear of any contradiction that this is the best economy Jamaica has had since its independence. And it is important that we tell the story of Jamaica’s economic success over and over and over again because there are generations of Jamaicans who don’t know it and who could take it for granted, and therefore, all the ministers have been directed that they must speak to achievements.
As I survey the audience, there are many who probably don’t appreciate the achievement, dismiss it. There are those who say the achievements don’t reconcile with my own lived experience, but the lived experience doesn’t change immediately. You have to reconcile that with the lived experience of those who went before you, and so whenever any minister of the government speaks, they must place the achievements in context because we live in a world where you are provided, literally bombarded with information without context.
You will notice that Minister Hill was at pains to say the Andrew Holness-led administration, and it is for a reason. I will explain that more or none as I return to my script, but whether you measure Jamaica’s economic performance and stability by the unemployment rate, the inflation rate, the debt-to-GDP ratio or net international reserves, by every critical metric, our economy undeniably demonstrates economic stability and resilience, and I want you to cement those two words in your consciousness; stability and resilience. There is a third word that we need to cement in our consciousness as we gather here to celebrate manufacturing and production in Jamaica and that third word is growth.
Our mission is clear, and I suspect it would also be the mission of my very good friend Tony, my political neighbour, in terms of constituency. It is a national mission. We must shift gears towards sustained growth. For Jamaica to realize its fullest potential, our growth rate must accelerate from 1 to 2% towards a more ambitious target of 4 to 5%.
Central to achieving this are initiatives which this government has launched, and we call them ASPIRE, that is our comprehensive growth strategy. Access and inclusivity form the bedrock of ASPIRE. Economic growth, for it to be meaningful, must include every Jamaican. So I want to assure those who are in the audience and those who may be listening that whatever this government does as it relates to achieving growth, it will not be growth for some or a trickle-down of the benefits of growth.
This government will be instrumental, deliberate, ensuring that the economy grows, that sectors and industries grow, but more importantly, your household of which you are the finance minister, the education minister, the transportation minister, your household- that your household also grows. That is a commitment that the government gives as we pursue growth, inclusivity and equity.
A sign of inclusive growth of an economy that is on this track of inclusivity is that the economy generates employment, and we can all be proud as Jamaicans that we have an economy where the unemployment rate is at 3.5%, the lowest in the history of Jamaica.
Now, Tony, I know the retort is going to be, well, most of it is low-paying jobs. One is infinitely greater than zero, and before you get to the top, you must put your foot on the first rung and then rungs after that. I don’t want anyone to tell me about low-paying jobs when under their stewardship, unemployment was double-digit, and we were not having our feet firmly placed on the rung of employment.
Yes, we acknowledge the pay is not what we would want, but you’re not going to wish high-paying jobs. It doesn’t materialize by a wish. It comes by efforts like these, and the conversation that I have to keep having with the Jamaican people is that we have to be practical about our development. We have to be realistic, and the old notions, many of which are false and proven to be so, cannot help us.
So yes, all of us want better pay and better salaries, but nobody wants to discuss productivity. There’s this disconnection between better pay and better salary and better jobs and the notion of producing more. Let me be clear: better pay and better salary without productivity equals inflation. So, for the demographic that is below 40, 30s and 20s, who have grown accustomed to stability- mild movement in prices, stable dollar, stable interest rate, who may take for granted stability, I wish to remind you that you cannot get to growth without stability.
Now, a robust economy requires safety and security. Indeed, you can’t grow your economy if there is insecurity, and that has been a challenge for Jamaica for the last four decades, if not more. But certainly, within the last three decades, crime and violence insecurity has been a challenge to our economy. We could be growing at 5% or more were it not for the impact of the security issues that we face.
We have achieved today a remarkable reduction in crime as indexed by the murder rate. We have 35% fewer murders today than today last year. And there are those who will say, I still don’t feel safe, and that might be the case. There is always a lag when it comes to these matters of security. The Latin American Public Opinion Project (LAPOP) surveys are always a paradox when you ask people, have you ever been a victim of crime, have you seen crime in your community? The percentage is usually a very high no, but then when you ask, what’s your greatest concern? Crime, and that’s because fear imagined is as real as fear experienced. And so, if every day you are fed a diet of fear, whether or not you experience it or imagine it, it is going to have that impact on your outlook and your perception.
And so, as the administration, we cannot give in to the proclivity and tendency to accentuate the negatives only. The administration must at nausea to boring you at times present the facts and the reality, because I read quite curiously in today’s paper an article which said, politicians should take no credit for the reduction in murders yet the Andrew Holness led administration was unmercifully battered, the poor minister of national security, when the numbers were going in the wrong direction. We must be careful of this urge that we have inside us to make the government look ineffectual.
It is of no benefit to anyone to have ineffective government. It is the government that you elect that has administered your affairs so that we can have revenues to make the largest allocations in the national security budget, develop the policies, select the leaders, and give guidance to the police and the military to have the impact that we are having now. It didn’t happen without the instrumental, deliberate, and direct policy of the government.
I know I’m saying things that are jarring, even confronting, but I must because the risk of leaving it to your own devices could be dangerous. The Andrew Holness-led administration is presiding over a 35% reduction year on year. We presided over a 19% reduction last year and a 7% reduction the year before, and we intend to drive this down to below the regional average of 16 per 100,000 based on the murder rate.
Now, can you imagine a Jamaica where that is now our new reality? My job is to see things as they are to be very practical, but it doesn’t stop me from being aspirational, ASPIRE. I dream, but only when I’m sleeping; otherwise, I’m visioning with my eyes open, and my vision for Jamaica is that you will be able to sleep with your windows and doors open, and I don’t take it back. It’s aspirational and we must have ambition to make Jamaica a peaceful country, which is our destiny and our future.
We are significantly straightening our infrastructure. Historic investments in roads, highways, water systems, wastewater management; all of these are already having an impact on productivity. Minister Hill may have mentioned a few, but there are some that you may not know of. Listen to this one
In the year I was born, the Prime Minister that I was named in honour of was Michael Manley. So my name should have been Michael Andrew, and they do sometimes make that error when they’re introducing me, but my mother insisted on Andrew, so I’m Andrew Michael.
Then Prime Minister Michael Manley recognized the importance of the Pedro Plains in St Elizabeth, an important farming area, but one that lacks sustainable, accessible, and reliable irrigation, so almost 50 years ago, a commitment was made to irrigate the Pedro plain. Why didn’t it happen? Many dalliances, excursions, and missteps did not give us the economy to be able to deliver on many of these, so for my 40-year-olds and younger, this is another context that you should appreciate.
Our ambitious $30 billion Pedro Plains Irrigation Scheme is underway and will provide critical water resources for over 5,000 farmers, ensuring agricultural stability and food security, reducing price, volatility, and oversupply cycles caused by drought and storm recovery patterns. This is an investment in infrastructure that is going to have a profound impact on our agribusiness and agro-processing sector in Jamaica.
That’s how we get to growth, but between now and these three or four years that it will take to actually dig the wells, make the pipe connections, survey lands, and all the other things that go into it, there is a gap, but I want you to know that the investment has begun. The fulfillment of a promise that could not have been fulfilled, a mere wish 50 years ago, we are now able to bring it to fruition. Do not take for granted economic stability and good economic management.
Recognizing our rich agricultural potential, we have invested $6.3 billion into renovating research stations, including Bodles, to support innovative farming techniques and collaboration with global agricultural leaders such as India. Further initiatives like the Essex Valley Agricultural Development Project, which is already underway and the Southern Plains Agricultural Development Project, which is already underway, have already benefited thousands of farmers, significantly boosting our agricultural productivity to further unlock productivity.
Our government recognizes that reducing bureaucracy is no longer optional; it is imperative. And everyone in here, I’m certain my under-40s and my over-40s will agree that Jamaica is moving from a democracy to a bureaucracy. It’s our reality. We’re moving from a democracy where people who are elected make decisions to a bureaucracy where unelected people without exercise of discretion, without being committed to growth, make decisions for everyone. Jamaica is not the only country that is grappling with that. Other countries are, so not to be confused with DOGE.
That is why we have launched the Streamlining Processes for Efficiency and Economic Development (SPEED) Programme, and this initiative will be led by Senator Marks. Through SPEED, we are systematically eliminating unnecessary regulations, reducing administrative delays and simplifying processes across government services. From motor vehicle registration to business licensing to development approvals, we will look at every single business process in government and determine whether or not it makes sense and remove it.
I want you to appreciate this. The national budget is always taken up by various line items to effect steps and systems and processes that are not necessarily delivering results, and so there are those who will say, but why are you blaming technocrats and bureaucrats and so forth? You are the government, you set the rules. I accept that, and that is why we’re going to change the rules to make them make sense, to make them serve the people, to make them support growth.
So, a part of the SPEED initiative is the integration of technology. We must not fear technology. We must embrace technology. The technological revolutions that have happened in the past 200 years would’ve left Jamaica behind. We must not be left behind in the current technological revolution. I say to my manufacturers and all the people involved in production embrace artificial intelligence. It is the greatest multiplier of productivity that we are going to see in this century. Make sure that you are on the cutting edge of embracing artificial intelligence.
We are accelerating the digitalization and transformation of Jamaica through our national broadband network. We have already started by connecting several schools, courthouses, and local authorities, and that continues.
Now, for those of you who are in business and about to make investments in new plants and construction, under the Accelerated Capital Allowance Initiative- I don’t know if you’ve been paying attention, if you heard my presentation, businesses investing in productive assets between now and December, 2026 will benefit from unprecedented tax advantages, significantly reducing cost and stimulating investments in buildings, plant machinery, and technology. I urge you, if you are thinking about doing your investment in five years’ time, bring it forward and take advantage of the incentives that we have given. We are also raising the annual turnover threshold for SMEs to register for GCT from 10 million to 15 million. That should take a lot of pressure off a lot of businesses.
On Tuesday, the Minister of Finance announced the extension of the tax amnesty. I have never received so many calls as I did being petitioned, because people saw the benefit of it. It helps, and so today, I’m announcing the extension of the NHT Employer Arrears Amnesty Programme from April 1st to May 31st, 2025. This extension provides employers in the micro, small and medium enterprise business sector and charitable organizations with a valuable window to regularize their accounts and benefit from the waiver of penalties and interests on arrears. Under the extension, qualifying employers are offered a 100% waiver on interest, and this will go up to arrears, up to March 31st, 2025.
So, ladies and gentlemen, at the heart of Jamaica’s long-term economic resilience lies economic diversification, and that is the E in our ASPIRE growth strategy. By broadening our economic base, we enhance resilience against global shocks and create new sustainable opportunities for employment and wealth creation.
Expo Jamaica 2025 embodies this vision, highlighting diverse sectors from manufacturing, agriculture, technology, logistics, finance and tourism. Jamaican manufacturers and exporters gathered here today are pivotal to this diversification journey. Platforms such as the Jamaica Emerging Manufacturers and Services Village provide critical exposure to micro and small enterprises in sectors like castor oil, nutraceuticals, aromatherapy, beauty products, and bamboo goods, reflecting precisely the diversified growth that we would want to see. I am looking forward to visiting the Tech Village and other areas to see the offerings that are there, but there is a matter which I’m sure many of you are eager to hear the government’s response to.
While we can celebrate the promise of our economic expansion and diversification, we must also remain alert and responsive to evolving global trade dynamics that may affect our exporters and manufacturers. The recent announcement by the United States Government of a 10% baseline tariff on imports from all countries set to take effect on April 5th, 2025, introduces a significant shift in global trade policy, one that could impact Jamaica’s market access to our largest trading partner.
Jamaica, like other CARICOM nations, have traded with the US under the Caribbean Basin Initiative (CBI). Many of you would know about the CBI, which provides non-reciprocal duty-free access for a wide range of products to the US market. Today, nearly 90% of Jamaican exports to the United States enter under these preferential terms. However, the new US tariff regime, rooted in a broader policy of reciprocal trade balancing, has raised serious concerns about the future of these preferential arrangements.
While the government of Jamaica has not yet received formal notification on the precise implementation procedures, including whether these new tariffs will override existing CBI provisions, we are actively engaging with the United States Trade Representative and other relevant authorities to seek urgent clarification. We are also conducting a detailed technical assessment in collaboration with relevant ministries and agencies to fully understand the scope of these tariffs and their implications for Jamaica’s trade and industrial policy.
It is important to emphasize that these developments do not reflect any erosion in the longstanding and strong bilateral relationship between Jamaica and the United States. Rather, it reflects a broader recalibration of US trade policy that is global in scope. Still, we will use every available diplomatic channel, including working with our CARICOM brothers and sisters and utilizing the Office of Trade Negotiations to seek to preserve the positions our exporters have secured over decades of deepening trade ties with the United States.
Preliminary analysis indicates that some of our top exports may fall under exempted product categories, and we are working to confirm and, where possible, expand these exemptions. Again, I must emphasize that clarity is still needed on several matters. Furthermore, there may also be opportunities to be found, and we must, therefore, be proactive and prospective.
To our manufacturers and exporters, we understand the uncertainty this announcement has created, and we are with you every step of the way. You are not only integral to our economic strategy, but you are national champions of our resilience and ingenuity. The government will continue to advocate on your behalf and ensure that your interests are protected in any new global trade architecture.
I will wrap those statements in my own comments. Jamaica has pursued a very strategic foreign policy in the same way we have pursued very strategic economic policies. If there is one thing that you can be certain of for a small open economy like Jamaica, it is that we will have shocks, exogenous shocks, things that happen outside of and beyond our control. In the past, we used to say it is other people’s fault. In the past, we used to hope that good friendships will come to our rescue. In the past, there were those who believe the world owed us something. That is not my stance, and I have not run this government in that way.
We must be prepared for shocks, and we must be resilient. We must be able to absorb the hit and recover, and we must put ourselves in a position to always be welcomed at the table to negotiate. And where we have our truths and strong positions, we must speak them clearly without fear of authority and powers, and we do it without bombast, hysterics, and hyperbole. We get the job done as we have for the last nine years at the helm of this country, carrying Jamaica through the worst pandemic, the worst global shocks as a result of the pandemic, through a hurricane followed by a tropical storm, all kinds of shocks and what used to take us 30 years and 17 years to recover, we recover momentarily.
So, for those who take this for granted and would wish to diminish it and believe that there is something else, let me urge you to think carefully. This is a new world, an uncertain world, but Jamaica stands on its two feet erect and proud. We will secure our economic independence, and I want every Jamaican to appreciate that.
So, yes, it is uncertain time, but we have done the necessary work. We have built the relationships. We have placed ourselves in strategic positions to be heard and to be heard from, and to be consulted. When these changes are going to happen, we know that they could have a long-term impact. We started planning long ago, so when you don’t hear me say and run out and make a statement, it’s because you have a government that is thinking very carefully, very strategically. I play chess, not draft.
Maybe a decade ago, the word disruptive would’ve been an inherently bad thing. In today’s world, you require disruption of systems for there to be innovation and new opportunities. So, whilst we see the downside of the disruptive global order that we have now, we are not going to sit by and wait. There are opportunities that must be had. There are prospects to be uncovered, and so I urge my manufacturers, my business people, before you start to look at the negative, also look for the opportunities.
Don’t just sit down and complain about all the things that’s going on and all the things that’s going bad, expecting that government is going to solve all the problems for you. Be the entrepreneur. Be the one who is the risk taker. Be the one who is looking for the opportunity. So, I say to my manufacturers, my exporters, yes, there may be some dislocation, the government will work with you to mitigate but look for the opportunities.
To our manufacturers and exporters gathered here tonight, your effort represents the heart of our economic progress. Your resilience, innovation, and entrepreneurial courage have carried brand Jamaica to every corner of the globe. As Prime Minister, I commit to ensuring our policies and initiatives remain aligned with your ambitions, creating an enabling environment that fosters investment, innovation, and global competitiveness.
Together, we will strengthen our local economy and solidify Jamaica’s position on the international stage. Expo Jamaica is a vivid showcase of Jamaica’s boundless potential, so as we advance global partnerships and create impactful local results, let us reaffirm our collective determination to build a prosperous, productive Jamaica that leaves no one behind.
Congratulations to everyone involved in this extraordinary event. Thank you for your continued belief in our shared Jamaican dream.
Ladies and gentlemen, it is my privilege and pleasure to officially declare Expo Jamaica 2025 open. Thank you.