Country Private Sector Diagnostic - Creating Markets in Jamaica - Repositioning for Private Sector-led Sustainable Growth

Jul 19, 2026

Upload by Logic

Country Private Sector Diagnostic for Jamaica presents an evidence-based assessment of the economy’s private sector landscape and the constraints limiting sustainable market creation. It reviews socioeconomic and COVID-19 impacts, evaluates productivity, trade, and investment performance, and analyzes cross-cutting barriers such as crime and violence, weak competition and business regulation, inefficient trade processes, limited SME finance, skills mismatches, electricity inefficiencies, and underdeveloped logistics. The report identifies sector opportunities, including agriculture and outsourcing, to support private sector-led growth.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages86

Reading Time3 h 37 min

Contents

Executive summary

Abbreviations and acronyms

Country context

State of the private sector

Cross-cutting constraints to private sector growth

Identifying sector opportunities

Boxes

Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public COUNTRY PRIVATE SECTOR DIAGNOSTIC CREATING MARKETS IN JAMAICA Repositioning for Private Sector–led Sustainable Growth May 2022 About IFC IIFC—a member of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets . We work in more than 100 countries, using our capital, expertise, and influence to create market s and opportunities in developing countries . In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impact s of the COVID-19 pandemic. For more information, [visit www.ifc. org](visit www.ifc. org). © International Finance Corporation 2022. All rights reserved. 2121 Pennsylvania Avenue, N.W. Washington, D.C . 20433 [www.ifc. org](www.ifc. org) The material in this work is copyrighted. Copying and /or transmitting portions or all of this work without permission may be a violation of applicable law. IFC does not guarantee the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon. The findings, interpretations, views, and conclusions expressed herein are those of the authors and do not necessarily reflect the views of the Executive Directors of the International Finance Corporation or of the International Bank for Reconstruction and Development (the World Bank) or the governments they represent . Photos: Cover, World Bank Group. CONTENTS Acknowledgments iv Executive summary v Abbreviations and acronyms xiii 1 COUNTRY CONTEXT 1 Socioeconomic indicators and the economic impacts of COVID-19 1 Productivity, trade, and investment in Jamaica 4 2 STATE OF THE PRIVATE SECTOR 8 3 CROSS-CUTTING CONSTRAINTS TO PRIVATE SECTOR GROWTH 12 Crime and violence 12 Weaknesses in competition and business regulation 13 Inefficient trade processes and procedures 19 Lack of access to finance for micro, small, and medium-size enterprises 21 Labor skills mismatches and shortages 24 Inefficient electricity sector 26 Underdeveloped logistics services 28 4 IDENTIFYING SECTOR OPPORTUNITIES 36 Agriculture 37 Outsourcing 55 BOXES 1.1. Tourism: a leading contributor to GDP, job creation, and foreign revenue—with high vulnerabilities 5 3.1. Example of digital financial services regulation: Mexico’s fintech law 23 3.2. Public-private partnerships: a pathway to improve infrastructure services 27 4.1. Horticulture success stories 43 4.2. Climate information systems for agriculture 52 4.3. Costa Rica’s transformation into a multifunctional business destination 58 4.4. A global services operations in Jamaica: private sector–led growth evolving with industry needs 59 FIGURES 1.1. Poverty rates in Jamaica 2 1.2. Recent changes in consumption or income 3 1.3. Herfindahl index of export concentration 5 1.4. Foreign direct investment and remittances in Jamaica 6 2.1. Distribution of Jamaican firms, by age 9 2.2. Export and import activity among firms 9 3.1. Intensity of domestic competition and effectiveness of antimonopoly policy 14 3.2. Economywide Product Market Regulation scores 15 3.3. Anticompetitive restrictions and constraints on private sector activity in Jamaica 16 3.4. Export and import costs 20 3.5. Credit to the private sector 22 4.1. Crop area harvested and gross production value in Jamaica 38 4.2. Food consumption and production in Jamaica 39 4.3. Prioritization of agricultural products based on competitiv

FAQs

What is the purpose of this Country Private Sector Diagnostic for Jamaica?

It assesses the private sector environment in Jamaica and diagnoses cross-cutting constraints that hinder market creation and sustainable growth. It also outlines sector opportunities to enable private sector-led expansion.

Which cross-cutting constraints are highlighted as limiting private sector growth?

The report highlights crime and violence, weaknesses in competition and business regulation, inefficient trade processes, lack of access to finance for micro, small, and medium enterprises, labor skills mismatches and shortages, inefficient electricity, and underdeveloped logistics services.

What sector opportunities does the report identify for Jamaica?

It identifies opportunities in agriculture and in outsourcing. These sections focus on where private investment can expand value, jobs, and competitiveness.

Jul 19, 2026

Upload by Logic