International manufacturer LANCO is advancing plans to establish a new manufacturing facility in St Catherine, in a move expected to create jobs, increase productive capacity and further strengthen Jamaica’s manufacturing sector.
The planned facility will focus on the manufacture of paints and adhesives.
Minister of State in the Ministry of Industry, Investment and Commerce (MIIC), Delano Seiveright, met with senior LANCO executives at the AC Hotel in Kington on Wednesday to discuss the proposed investment and the steps required to move the project towards implementation.
He welcomed the development, describing it as a positive signal of investor confidence and consistent with the Government’s push to strengthen productive investments.
“This is precisely the type of investment we are working to facilitate…new factories, new jobs and greater productive capacity. LANCO already has a presence in Jamaica and the objective now is to help them deepen that footprint through manufacturing,” Seiveright said.
He added that the investment thrust aligns with the broader economic direction of the Government, and the manufacturing and investment agenda being driven through MIIC.
MIIC, JAMPRO and other relevant government entities will work with the company to navigate the applicable approvals, incentives and facilitation processes.
Seiveright pointed to the Productive Inputs Relief (PIR) programme, administered through MIIC, as one of the important mechanisms available to qualifying manufacturers.
Under PIR, companies granted Manufacturing Status can benefit from duty-free importation of approved productive inputs, a 50 per cent reduction in Customs Administrative Fees and GCT deferral on imports granted by Tax Administration Jamaica.
“Where LANCO qualifies, we want to ensure that the company is fully aware of PIR and the other applicable incentives and facilitation mechanisms. Government has deliberately put these tools in place to lower the cost of productive investments and make it easier for serious manufacturers to establish and expand operations,” Seiveright said.
Eligible categories under the PIR programme include raw materials, intermediate goods, consumables, packaging materials, and machinery and equipment used in production, quality assurance and testing.
Seiveright noted that the Government’s approach is increasingly focused on moving investment from discussion to implementation.
“We are competing with countries across the region and globally for investments. When a serious investor wants to put capital into Jamaica, build a factory and employ Jamaicans, our responsibility is to work across government to remove unnecessary bottlenecks and get projects moving,” he emphasised.
LANCO manufactures architectural and industrial coatings, adhesives, sealants and related products and operates across several markets in the Americas and Caribbean.
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