World Bank Group Endorses Jamaica

Press Release
Wednesday, February 13, 2013
Anthony Hylton

The World Bank Group has endorsed Jamaica’s aim to become the logistics hub for the Caribbean, Latin America and US Gulf & East coastal area by pledging to help find funding for the pioneering project.

 


Speaking in Kingston recently, Giorgio Valentini, World Bank Group representative to Jamaica, described the logistics hub initiative as ‘transformational’ and foresaw benefits for the whole Jamaican economy in addition to its maritime industry. “It is important to emphasise that the hub is not just about the port, it involves many moving parts and will significantly enhance Jamaica’s potential for growth,” Mr Valentini said.


Jamaica’s proposal to become the fourth node in the global logistics chain, announced in January, is the centrepiece of the Government’s growth strategy and is expected to transform the Jamaican economy, create jobs and position Jamaica on the global value chain alongside Rotterdam, Singapore and Dubai. Jamaica’s plans intend to make the most of the significant economic opportunities expected to emerge from the expansion and development of the Panama Canal.


Thanking the World Bank Group for its support, Industry Minister Anthony Hylton said the endorsement brings the vision one step closer to reality. The Minister will lead a mission to Washington from February 18-22, 2013 to continue talks with the World Bank Group on additional areas of collaboration and support. Minister Hylton will also have meetings scheduled with international investors who have expressed an interest in the Logistics Hub Initiative, and will meet with private sector groups. The Ministry plans a public education campaign to keep the country appraised of how the public and private sectors can collaborate to transform Jamaica through the Global Logistics hub initiative.


A 16 person delegation from the World Bank group visited Jamaica and has already started to provide technical assistance in the development of the master plan for the logistics hub. The pillars of the master plan, which should be unveiled by June 30, will feed into the final version of the World Bank’s Country Partnership Strategy with Jamaica. This document will govern the relationship between the island and the World Bank for the period 2014-17.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

India May Add Japanese Soryu-Class Submarines to its Fleet

India is reportedly considering a project to incorporate six Japanese Soryu-class diesel-electric submarines into its fleet, says The Japan Times.   The Defense

News

Gulf Bridge Express Service to End

The Gulf Bridge Express Service will shortly be terminated with the last roundtrip voyage being MV Saint Nikolaos voyage 00008S, ETA New Orleans on April 22, 2015.

Obangame Express 2015 Concludes in the Gulf of Guinea

Maritime forces from Gulf of Guinea nations, Europe, South America, and the United States and several regional and international organizations concluded the multinational maritime exercise,

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Logistics

Gulf Bridge Express Service to End

The Gulf Bridge Express Service will shortly be terminated with the last roundtrip voyage being MV Saint Nikolaos voyage 00008S, ETA New Orleans on April 22, 2015.

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

China Maritime Silk Road to Touch India for Namesake

Chinese officials on Saturday fleshed out some details for the country's ambitious 21st Century Maritime Silk Road (MSR) project in its “one belt, one road,” action plan.

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2570 sec (4 req/sec)