Government Fully Committed to Logistics Hub

MONTEGO  BAY – Minister of State in the Ministry of Industry, Investment and Commerce, Hon. Sharon Ffolkes Abrahams, says the Government is fully committed to the establishment and development of the  global Logistics Hub.

She  said the hub holds strong prospects of becoming a facilitator of small business development and enhancing  the job creation potential of the transportation and logistics industry.

“Jamaica, like other countries in the region, sees tremendous opportunities within the global logistics and transportation industry. We recognize the significant strategic and economic advantages that can be derived from the building of a global logistics hub.  We know the industry is very competitive but we are confident that Jamaica will prevail, owing to our competitive advantages,” Mrs.  Ffolkes Abrahams said.

The State Minister was delivering the main address at the Montego Bay Chamber of Commerce and Industry’s Expo Seminar and panel discussion, held at the Montego Bay Convention Centre in St. James on October 11.  The theme was:  ‘Exploring opportunities from the Global Logistics Hub’.

She indicated that one of the country’s competitive advantages is its geo-strategic location, with  Jamaica offering a north-south-east-west option for supply or value chains within the western hemisphere.

“No other country has such an advantageous location.  We offer a pull of ships coming from the Pacific side of the Panama Canal,  mostly from China, and as such we can act as a value added, warehousing and distribution centre, or what is called nearshoring.  Our geographic comparative advantage also applies in the area of aviation.  Other advantages include deep water ports, with several located in the south of the country.  Kingston has the seventh largest natural harbour in the world,” Mrs. Ffolkes Abrahams informed.

The State Minister said the logistics hub would not only transform lives, it would also transform businesses in a number of ways, including the creation of a better business environment, less bureaucracy, more efficient government process, more opportunities, with more businesses to supply goods and services.

“There will  also be export facilitation, with more effective and efficient transport links and greater opportunities for access and presence in overseas markets,” she added.

The State Minister further indicated that the logistics hub would attract capital investment, increase integration of global trade and supply chains, and increase trade and cross-border traffic.

The  Logistics Hub Initiative  forms part of the Government’s  strategic priorities  for 2013/14 and beyond, particularly in the area of job creation and economic growth.