Above: Jamaica Chamber of Commerce President Francis Kennedy and Jamaica Industry Minister Anthony Hylton (JIS Photo)
By the Caribbean Journal staff
Jamaica has big expectations for its plan to develop Kingston into a global logistics hub, according to Industry Minister Anthony Hylton.
The development of the hub, which is projected to cost between $8 billion and $10 billion, would make it the fourth such facility in the world, following similar hubs in Dubai, Singapore and Rotterdam.
“This project is of a global scale,” Hylton said. “The standards we are setting are along the lines of those in Singapore, Dubai and Rotterdam. That’s a tall order, but that’s the scope of opportunity that we have [to take advantage of], therefore, the scale of that opportunity must be matched by our efforts.”
Central to the development are the dredging of Kingston Harbour; an expansion of the Port of Kingston; development of the Caymanas Economic Zone; a transshipment commodity port and development of Vernamfield in Clarendon as an air-cargo and passenger facility, along with setting up a dry dock facility.
Hylton, who was speaking at the Jamaica Chamber of Commerce’s Breakfast Forum Tuesday morning, said the project’s stakeholders viewed it as “critically needed.”