KINGSTON, Jamaica (JIS) — Seven key strategic enablers, deemed pivotal to realising Jamaica’s Logistics Hub Initiative, have been identified for implementation by the Government.
These include: improving institutional effectiveness; instituting supportive policies, and legislative and regulatory frameworks; enhancing workforce capacity; developing efficient and productive infrastructure; providing efficient transport logistics systems; facilitating sustainable financing; and project promotion.
The enablers, which encompass 65 strategies and 105 actions, are contained in the 422-page Logistics Hub Master Plan and Market Analysis. This document will serve the developmental road map to establish Jamaica as a global logistics hub.
It was unveiled by Global Advisor for Ports and Infrastructure, Nathan Associates Inc., Dr Paul Kent, during a ceremony at the University of the West Indies Regional Headquarters in Mona, St Andrew, on Thursday.
Kent, who noted that Jamaica has a comparative advantage in logistics, said “it is just a matter of organising it in a good way.”
“You need investors [who] can come in and make quick decisions. You [also] need to…demonstrate to the world that you offer advantages and a value proposition that deserve primary consideration for relocation, investment or expansion,” he argued.
Jamaica’s Logistics Hub Initiative is regarded as pivotal to generating higher levels of sustainable economic growth, greater fiscal stability and significant job creation.
Its full build-out will comprise nearly 3,900 hectares of development islandwide from over US$28 billion of projected investments, and resulting in the creation of 87,400 direct jobs.
An analysis of the multiplier effect shows that each job can potentially create five additional openings, equating to an overall 437,000 employment opportunities.
The Government, through the Planning Institute of Jamaica, engaged Nathan Associates, a group of economic consultants headquartered in the United States, to conduct the 14-month study, c4ulminating with the masterplan’s drafting. The exercise was executed by sub-consultants – Berger ABAM.
This engagement was facilitated under World Bank loan support provided for the Administration’s Foundation for Competitiveness and Growth Project.
The master plan and market analysis will be uploaded on the Jamaica Special Economic Zone Authority’s website, where it can be viewed at www.jseza.com.