Jamaica Logistics Hub Plans: “Failure is Not an Option”

Tuesday, May 21, 2013

When it comes to its long-ranging and dynamic plans to develop as an international logistics center, failure is not an option for Jamaica, according to the country’s Minister of Industry, Investment and Commerce.

Addressing the Jamaica Parliament as his contribution to the 2013/2014 Sectoral Debate and speaking to the theme of Achieving Transformational Growth, the Hon. Anthony Hylton said, “Let me make it clear that, in this mission, failure is not an option”

During a comprehensive address, Mr. Hylton gave details of how Jamaica is establishing a growth and development strategy “that changes our present reality and transforms the Jamaican economy”. Outlining the growth agenda he explained that the core components of this drive are “strategic investments, improving the business environment, macroeconomic stability, entrepreneurship and innovation, energy efficiency and human capital development”.

Jamaica has already attracted significant investment interest in its project as it prepares to become the “fourth node” in the global logistics chain, following in the footsteps of Rotterdam, Singapore and Dubai. Minister Hylton said, “The same investors who developed the other three logistics hubs are now at the table with us, seeking to carve out individual mega projects and to acquire and upgrade existing assets through public/private partnership arrangements.”

Minister Hylton said the objective of the Logistics Hub Initiative was to “integrate the Jamaican economy into the global value and supply chain” and pointed out that the Initiative is a “central plank in Jamaica’s overall growth strategy”.

He advised the House of Representatives that the Jamaica Logistics Hub will host a cluster of shippers, freight forwarders and couriers together with large global businesses with substantial cargo flows. Speaking of Jamaica’s “competitive advantage” particularly in the shipping sector, Minister Hylton said the key factors benefiting the Hub were the expansion of the Panama Canal to carry larger vessels and volumes of cargo, the “paradigm shift” in global trade corridors from North to South thus benefiting the BRIC emerging countries, Jamaica’s robust telecommunications infrastructure and the country’s strategic geographical position on major sea and air routes. He vowed the Logistics Hub Initiative would transform the Jamaican economy and benefit its people.

Jamaica has plans to construct an ultra-modern technology park at Naggo Head with 750,000 square feet of space and the potential to employ 13,000 people. The first 100,000 sq ft of space has been booked by a fast-growing business processing outsourcing (BPO) company which will employ some 600 staff in the coming months. Construction is scheduled shortly on 200 acres of land within the Caymanas Economic Zone which will form the first phase of a potential 1,700 acre logistics centre. Further plans are being developed with the Port Authority of Jamaica.

Minister Hylton said, “The Logistics hub will not only bring in excess of $9 billion and tens of thousands of jobs for our people, especially our young people, but also transform Jamaica’s position in the global economy.”

Maritime Today

The Maritime Industry's original and most viewed E-News Service

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


Suez Canal Pacts with SCCT-Maersk

Chairman of the Suez Canal Authority (SCA), Vice Admiral Mohab Mamish, signed a settlement agreement with the Suez Canal Container Terminal (SCCT-Maersk), says Daily News Egypt.

Available: 300 Free Systems; Wanted: 300 Ships

Which will be the first 300 ships in the world to test and validate Sea Traffic Management (STM) with updated systems free-of-charge?   As the shipping domain

Asia Fuel Oil-Cracks, Spreads Tight; Bunker Prices Climb

Asia's fuel oil crack for benchmark 180-centistroke rebounded to a discount of $6.79 a barrel on Wednesday, gaining as bunker prices firmed on the possibility of


Shipping to See Further Consolidation

The CMA CGM's move to buy Singapore’s Neptune Orient Lines (NOL), could lead to one of the biggest acquisitions in the shipping container industry in years.   If it goes through,

Maersk to Idle Vessel

The world's biggest container-ship operator Maersk Line  has confirmed market talk that it has temporarily idled one of its largest vessels - yet another sign that the industry is in dire straits,

Idling Fleet Continues to Surge

Owners are rapidly laying up containerships as the market slows. The size of the idle fleet will get bigger while rates and profits slide, says Drewry Shipping Consultants Limited.

Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | 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: 0.0707 sec (14 req/sec)