Above: Jamaica Industry Minister Anthony Hylton (JIS Photo)
By the Caribbean Journal staff
The logistics hub project which Jamaica’s government has made priority has the potential to transform the country’s economy, according to Industry Minister Anthony Hylton.
The Minister was speaking about the project this week at a meeting of the Montego Bay Chamber of Commerce and Industry.
“This is the big idea that has the potential to transform our economic fortunes, and from which present and succeeding generations will all benefit,” he said. “Montego Bay will not be left out of the development plans, or out of the opportunity to invest in the initiative.”
The project will have six elements, including the dredging of the Kingston Harbour; expanding the port facility at Fort Augusta and Gordon Cay; establishing a Dry Dock facility at Jackson Bay, Clarendon and establishing a transshipment commodity port facility near Yallahs, St Thomas.
Jamaica would also develop the Caymanas Economic Zone and an air cargo and passenger facility at Vernamfield.
“This is the most transformative economic activity that we will undertake as a government, in partnership with the Jamaican private sector, the global investment community, the multilateral and bilateral institutions and significantly our friends in Panama,” he said.
The plan is to take advantage of the scheduled expansion of the Panama Canal, which is set to be complete in 2015.
Hylton said that the hub would not be successful without a “speedy and effective business environment,” however, and that Jamaica would seek to reduce red tape and monitor the country’s progress on the World Bank’s Doing Business report.
If the project goes according to plan, he said, the project would be ready for “full take-off” in mid-2015.