Jamaica edges closer to logistics hub vision

JAMAICA is taking decisive steps towards realising its long-touted ambition of turning into the fourth world logistics hub, with Prime Minister Andrew Holness saying a wave of latest infrastructure developments, together with the long-awaited Caymanas Particular Financial Zone (SEZ).

After greater than a decade of planning, the Caymanas SEZ is anticipated to interrupt floor throughout the subsequent two months, or probably sooner.

“The port authority has been tasked with de-risking the challenge, and taking over the event danger for the challenge, and with creating the primary 50 acres of the challenge and discovering an anchor tenant. So, Jamaica may have its first true particular financial zone,” Holness revealed in the course of the ground-breaking ceremony for Kingston Gateway, a warehouse and logistics advanced on Marcus Garvey Drive in Kingston on Friday.

He additionally introduced {that a} comparable SEZ-style growth led by City Growth Company (UDC) would break floor in the identical neighborhood on Marcus Garvey Drive. This upcoming challenge will make 40 heaps, every averaging one acre, out there for buy, with patrons having the chance to acquire particular person SEZ certifications. The challenge is anticipated to considerably develop Jamaica’s warehouse capability.

“It gained’t essentially be a particular financial zone, however the individuals who buy land there may most likely search to have their very own SEZ certifications. That challenge goes so as to add important warehouse capability to Jamaica,” stated Holness. “The Authorities is doing its half in creating the true property capability to assist particular financial zones.”

The added warehouse capability is anticipated to enrich the Kingston Gateway warehouses, a enterprise conceptualised by SAJE Logistics Infrastructure Restricted greater than 5 years in the past and which attracted three way partnership partnership from Confirmed Properties Restricted.

Kingston Gateway will function 21 industrial models inside a 112,000-square-foot advanced with direct entry to Marcus Garvey Drive, shut proximity to the Port of Kingston, and handy hyperlinks to Norman Manley Worldwide Airport.

Holness described it as an “economically, spatially, and strategically sound” infrastructure funding to assist Jamaica’s ambitions of turning into a key node within the world logistics community. He famous that the subsequent part would be the precise port and logistics-related infrastructure to permit sufficient house in ports to clear containers for effectivity. Whereas there have already been some enhancements to the port, he notes that challenges nonetheless linger to seek out new areas to develop the power, and there have been issues to merge Marcus Garvey Drive with the present Spanish City Street to create more room for port actions, however the plans are nonetheless being finalised.

“We’ve to recognise that if we’re critical about logistics, we’re going to should develop, significantly the nearshore and near-port operations of the port, and we’d like extra land so as to try this. We’ve plans for the west lands, and we’re additionally trying on the Tinson Pen space and the land between Spanish City Street and Marcus Garvey Drive, which we’re going to have to deal with,” he stated.

Opposition spokesman on funding, commerce, and logistics, Anthony Hylton welcomed the bulletins, particularly the long-delayed Caymanas SEZ challenge. He emphasised that the imaginative and prescient of Jamaica turning into a logistics hub has loved bipartisan assist because it was first articulated beneath the Portia Simpson Miller-led Administration.

“It has been lengthy in gestation however I consider that each Authorities and Opposition are totally aligned on the imaginative and prescient and mission of Jamaica turning into the fourth node within the world buying and selling system and the gateway to the Americas,” stated Hylton.