Ground Breaking for Caymanas Economic Zone August

KINGSTON — Minister of Industry, Investment and Commerce, Hon. Karl Samuda says the Government will be breaking ground to start the first phase of the infrastructural development of the Caymanas Economic Zone, in St. Catherine, as early as August.

He pointed out that the Factories Corporation of Jamaica has purchased some 200 acres of land, previously owned by the Urban Development Corporation (UDC), for the development of the first phase of the industrial complex.

Mr. Samuda was addressing local investors at the Jamaica Promotions  Corporation (JAMPRO) ‘Invest in Jamaica’,  Kingston Forum, held at the Terra Nova Hotel in Kingston, today.

The Minister explained that although the Government has some 1,000 acres of land at its disposal for the economic development, it will only concentrate on 200 acres during phase one.

He informed that within the complex, some 40 acres will be reserved for the establishment of an Information and Communications Technology (ICT) Informatics Park.

“What we are seeking to do is to have a mixture of commercial entities, which would include distribution, services, the ICT sector and of course all the amenities that go toward making it a worthwhile development project,” the Minister informed.     

Mr. Samuda also noted that he did not want the area to be identified solely as a free zone, but explained that “within the enterprise zone, you may have free zones granted, but it is not a free zone entity in totality."

He argued that the Caymanas area is poised for development, as it is not only strategically located, but also has a significant amount of young, talented people in need of employment.

“There is no single location that offers a greater amount of highly trainable, young people in need of employment…than in the area that surrounds the Caymanas lands,” he contended.

Mr. Samuda informed that the Government has been having ongoing discussions with a number of international investors, particularly those in China, to invest in the development of the area. “I understand that one of the largest companies in China is interested to the point where it has been taken to their Board for a decision,” he stated.

“This is for a larger project, where they would use Jamaica as a hub to house that which can be finished in Jamaica, so that we can achieve the substantial transformation and the product being identified as a Jamaican product to enter our Caricom market, and at the same time use Jamaica as a launching pad to North, Central and South America and even Europe,” he said.

He said that if this plan is successful, Jamaica would become a marketing hub or a showplace for the manufacturers, where buyers would fly to Jamaica to view products rather than to Beijing or any other Chinese town.

The Minister emphasised that while the country is interested in gaining the support of international investors,  it is also critical that local investors get involved.

“We have in Jamaica a wealth of talent and commitment and there is no better way to convince the world that we are serious than to demonstrate that our local players are committed and interested in investing in their country,” he said.

“This is the beginning of something great and we want you to partner with us, but it’s going to take cash,” he told local investors.

It is hoped that the Caymanas Economic Zone will not only link the business districts of Kingston and Spanish Town, but will also serve to provide hundreds of jobs for Jamaican citizens, whilst significantly improving the country’s Gross Domestic Product (GDP). 

By ATHALIAH REYNOLDS, JIS Reporter