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Jamaica unveil plans for global logistics hub in Caribbean island
KINGSTON—The Government of Jamaica has unveiled ambitious plans that will build the Caribbean island into a Global Logistics Hub for the Americas and position it as a regional trading mecca similar to Singapore, Dubai and Rotterdam.
High level discussions have already started with a number of overseas investors to develop vast areas of prime real estate to handle increased volumes of air and sea cargo.
Projects under discussion include growth of container throughput at the Port of Kingston ahead of the expansion of the Panama Canal, as well as the development of commodity ports to handle petroleum products, coal, minerals and grain; the development of an air cargo strong hold through the construction of an air cargo airport as well as the construction of large scale ship repair dry docks.
Special economic zones are also being conceptualised by a wide range of local and foreign investors. Once completed, the initiative which is being spearheaded by the Jamaica Ministry of Industry, Investment and Commerce, will transform Jamaica into the fourth node or pillar in the global supply and logistics chain alongside Singapore, Dubai and Rotterdam.
A critical element in the equation to make the Logistics Hub successful is the involvement of suitable, long-term investors. The Government of Jamaica is already in discussion with prospective partners and is looking for new ones. Anthony Hylton, Minister of Industry, Investment and Commerce, said the vast project contained many opportunities for investors, logistics providers, distributors, manufacturers, and suppliers across many industries around the world.
He noted that the initiative will provide a myriad of opportunities for global and domestic commercial and industry interests. The development of Jamaica’s transportation—maritime, aviation, road and rail and logistics infrastructure —will enable the country to be positioned as the logistics hub of the Americas (North and South America). This effort, he said, represents the centerpiece of a sustainable economic growth strategy.
The Minister explained: “I recently returned with a delegation from Asia as part of advancing the logistics hub initiative and I must tell you that the results of my trip are very reaffirming and nstructive. The results reaffirmed the soundness of the logistics hub initiative and further clarified the opportunity and the tasks that are before us.”
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