Jamaica to “Expedite” Development of Special Economic Zones

By: - July 11th, 2014

Above: Jamaica Industry Minister Anthony Hylton

By the Caribbean Journal staff

Jamaica’s government is planning to expedite the development of Special Economic Zones in the country, according to Industry Minister Anthony Hylton.

The zones are a “critical component” of the government’s much-touted logistics hub project.

The plan is to make the SEZs, as they are termed, a part of a strategy in attracting investments and creating jobs.

“In essence, therefore, we see the SEZs playing a key role in terms of economic reforms, attracting foreign direct investment (FDI), catalyzing development of industrial clusters, attracting new technologies and adopting modern management practices,” Hylton said this week.

The Minister said the role of his Ministry, which also includes the Investment and Commerce portfolios, was to “develop the necessary legal, and institutional framework for the SEZs to be world-class attractions, not just for foreign investors, but for domestic investors as well.”

Jamaica is planning to designate 16 separate locations as special economic zones, including the Kingston Container Terminal, the Norman Manley International Airport in Kingston, Vernamfield in Clarendon and the proposed Goat Islands project.

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