Logistics Key to Driving Competitiveness – Hylton

Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, has emphasized that Logistics is key to driving the competitiveness of Jamaica’s economy.

“Wherever you have a focus on Logistics in any economy, the history is very clear…those economies that get their logistics right, are those that are growing and performing,” the Minister said.

Mr. Hylton was addressing the Business Process Industry Association of Jamaica’s (BPIAJ) Industry Forum, held  at the Grandiosa Hotel in Montego Bay on July 11.

The BPIAJ is seeking to increase  awareness among the Information and Communications Technology-Business Process Outsourcing (ICT-BPO) industry and the business community about the Logistics Hub Initiative and the opportunities that will come for the sector.

The ICT-BPO industry is valued at US$260 million and currently employs over 14,000  persons, the Minister noted.

“This industry plays a significant role in the economic life of our country, being responsible for the employment of some 14,000 persons and involving some 34 entities.  It is clear therefore, that you have an essential role to play in the development of the Jamaica Global Logistics Hub and as active participants in the Special Economic Zones (SEZs), to be developed across the island,” Mr. Hylton told the forum participants.

He informed  that the Ministry, as the arm of Government responsible for nurturing businesses, plans to introduce policy measures that will hasten the development of the SEZs in the short to medium term.

“These measures will guide the passage of key pieces of legislation, create a supportive policy and regulatory framework, and help create the institutional strengthening required for the timely establishment of the SEZs,” the Minister explained.

“On Thursday (July 10),  we had the first in a series of stakeholder meetings on the policy framework for the Special Economic Zones.  This is a critical step towards the setting up of the regime that will govern the operation of the Special Economic Zones, that will play a central role in the logistics-centred economy,” he added.

The Minister indicated that it was the Ministry’s aim to make Jamaica the  leading global integrated logistics hub, with robust maritime, aviation and land transport capabilities.

“Ultimately, our goal is to increase the number, capacity and capabilities of enterprises engaged in global commerce, irrespective of whether the business is foreign or domestic owned or whether the business is large, medium, small or micro. The goal of the Logistics Hub Initiative is to attract multi-national firms that are outsourcing their international production, as part of global value chains,” Mr. Hylton said.

“This will lead to the clustering in Jamaica of major manufacturing and distribution firms that are involved in the processing of raw materials and intermediate goods (parts and components) as well as facilitating third party logistics companies,” the Minister added.