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KINGSTON, Jamaica (JIS) — Key partners in the staging of a logistics symposium are upbeat and have high expectations for a successful, information-sharing event. The symposium, slated for Saturday, July 23 at the University of the West Indies Regional Headquarters in Mona, St. Andrew, is expected to attract approximately 200 persons representing both the public and private sectors, including the thinkers, implementers, business strategists, companies and individuals who may wish to capitalise on the future growth of the global logistics industry. Chairman of the Logistics Hub Initiative, Dr Eric Deans explained that the symposium will look at what it means to become a logistics gateway and how Jamaican businesses can fit into a global marketplace. “We would want to have more sharing of knowledge as to what is happening with the logistics hub…persons need to be aware of what is taking place within the region, what is happening in terms of goods moving through the region, investments taking place in other countries, various investment trends and countries positioning themselves to take advantage of these trends. So it is about breaking it down to the individual level to let persons understand how they can take advantage of these happenings,” Deans pointed out. Vice-President of Cable & Wireless Business, Donovan White said that he expects a continued flow of information with small, medium and large enterprises and for them to understand the importance of the logistics hub initiative (LHI) to long-term microeconomic success. “My expectation from the symposium is that people will come and walk away being a lot more aware…there is a lot that has gone on in the last year in terms of behind-the-scenes work (as part of the logistics hub initiative) and so, the more people come with an open mind and believing that there is a move to change our economic development in a positive way, then I believe people will leave feeling that we are on to something and that they need to get involved,” White expressed. The day’s proceedings will begin with a plenary and opening ceremony featuring a presentation from the economic consulting firm Nathan Associates Inc, entitled ‘Master Plan and Industry Analysis for the Global Logistics Hub Initiative’. This session will provide an update on findings and state of developments relating to the global logistics hub initiative. The sessions following will include panel discussions on three key areas within the global logistics industry: manufacturing, transportation and services. The symposium is being staged by Mona School of Business & Management (MSBM), Planning Institute of Jamaica (PIOJ), Jamaica Logistics Hub Taskforce, Ministry of Economic Growth & Job Creation, Port Authority of Jamaica and Caribbean Maritime Institute in association with Cable & Wireless Business, Sutherland Global Services and the Shipping Association of Jamaica. Source: http://www.jamaicaobserver.com/news/Over-200-expected-at-logistics-hub-symposium-tomorrow

The Ministry of Industry, Investment and Commerce welcomes the passing of the Special Economic Zone Act in both the Senate and the House of Representatives. The legislation represents a milestone achievement as part of the Global Logistics Hub Initiative and facilitation of investments into Jamaica. Special Economic Zones represent a wide variety of geographically-demarcated areas that offer simple and efficient business regulations and procedures to investors. The Special Economic Zone Act has effectively repealed the Jamaica Export Free Zones Act, making way for the designation, promotion, development, operation and management of Special Economic Zones; the establishment of a Special Economic Zone Authority and the granting of benefits and other measures in order to attract domestic and foreign investments. Minister Hylton in commenting on the legislation stated, “We envision that the zones will attract new economic activities, supported by the provisioning of new infrastructure. It will also allow domestic suppliers to sell to companies located in the SEZs and potentially become part of global supply chains. Importantly, incubators will be a key feature to ensure our MSME sector has an opportunity to be part of this growth initiative.” In preparation for the transition from the Freezone regime to the SEZ regime, the Ministry has conducted consultations with existing Free Zone entities to allow for a smooth process. Existing Freezone operators such as Gulfray Americas Limited, which recently announced a US$350 million investment in the build out of the Spanish Town Free Zone and Kingston Wharves Limited, which is investing $J 1.8 billion in the build out of its Total Logistics Facility are among investors that will transition to the Special Economic Zone regime. Source: http://www.mof.gov.jm/mof-media/media-centre/press/2270-special-economic-zone-act-passed.html