New body aims to align Caribbean SEZ policy with investment promotion
The Caribbean Association of Investment Promotion Agencies (CAIPA) has joined regional leaders and the World Free Zones Organization (WFZO) in backing the creation of the Caribbean Special Economic Zone Association (Cari SEZA), a planned regional, non-governmental, not-for-profit body meant to strengthen the design, governance and performance of Special Economic Zones (SEZs) across the Caribbean. Five regional SEZ authorities endorsed the initiative on May 12, 2026, during the WFZO’s 12th World Congress in Panama City, Panama, and the association was formally launched the following day under Jamaica’s leadership.
The congress ran from May 12 to 14 at the Panama Convention Center under the theme “Free Zones in the New Global Operating Model: Challenges and Opportunities” and included a Caribbean Ministerial Roundtable chaired by Jamaica’s Minister of Industry, Investment & Commerce, Senator the Hon. Aubyn Hill, according to Jamaica’s Ministry of Industry, Investment & Commerce (MIIC). Hill told the roundtable that Jamaica is “building Special Economic Zones that work” that are “efficient, secure, digitally enabled, and profitable for investors,” as the region’s ministers discussed how Caribbean economies can better attract investment, deepen value chains and expand participation in digital and green industries.
With support from WFZO, the conceptual framework for Cari SEZA was developed by CAIPA and the Jamaica Special Economic Zone Authority (JSEZA), serving as thought leaders and co-authors. The founding parties pictured together in Panama included Stephen de Gannes, CEO of the Trinidad and Tobago Special Economic Zones Authority; Cory Zufelt, co-founder of Citez Grenada Ltd.; Johannes Marinus Kelner, executive director of the National Free Zones Council of the Dominican Republic; Julio Moltó, Panama’s Minister of Commerce and Industries; Mohammed Al Zarooni, chairman of WFZO; Aubyn Hill, Jamaica’s Minister of Industry, Investment & Commerce; Kelli-Dawn Hamilton, CEO of JSEZA; Kaye Greenidge, CAIPA president and CEO of Invest Barbados; Matthew Stephenson, CEO of WFZO; and Walter Mosher, managing director of Free Zone Aruba.
At the Caribbean Ministerial meeting, Greenidge emphasized that investment promotion and SEZ development must move in lockstep if the region is to attract high-quality, resilient investment. She warned that when SEZ and IPA strategies are developed separately, countries risk promoting opportunities that zones cannot deliver, or running zones weakly connected to national and regional project pipelines. From CAIPA’s perspective, she said, Cari SEZA is a partner in development rather than another layer of bureaucracy, providing a structured interface where zone standards, learning and cooperation can align with CAIPA’s work on investor targeting and facilitation, underscoring CAIPA’s commitment to a seamless path from investor interest to implementation.
Working alongside Cari SEZA, CAIPA will encourage its member investment promotion agencies to deepen collaboration with SEZ authorities on shared data, common investor-facing standards and flagship regional projects intended to present the Caribbean as a connected, future-ready economic platform. CAIPA said it will continue engaging ministers, SEZ regulators, WFZO and other partners as the region moves toward Cari SEZA’s official launch.
CAIPA is a network of 24 national and sub-national investment promotion agencies working to position the Caribbean as a destination for foreign direct investment, through capacity building, research and data, international brand promotion, strategic partnerships and policy advocacy across sectors including digital infrastructure, tourism, logistics, agribusiness and the blue economy. WFZO, for its part, says it was founded in 2014, is based in Dubai and is a non-profit association open to free zones and free-zone associations worldwide.
Headline photo: From left to right: Stephen de Gannes (CEO, Trinidad and Tobago Special Economic Zones Authority), Cory Zufelt (co-founder, Citez Grenada Ltd.), Johannes Marinus Kelner (executive director, National Free Zones Council, Dominican Republic), Julio Moltó (Minister of Commerce and Industries, Panama), Mohammed Al Zarooni (chairman, WFZO), Aubyn Hill (Minister of Industry, Investment and Commerce, Jamaica), Kelli-Dawn Hamilton (CEO, Jamaica Special Economic Zone Authority), Kaye Greenidge (CAIPA President and CEO of Invest Barbados), Matthew Stephenson (CEO, WFZO), Walter Mosher (managing director, Free Zone Aruba). (Photo courtesy CAIPA)
