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Story Highlights

  • Jamaica’s Logistics index has moved 54 places in just under two years, making the country more investment ready in the global logistics chain.
  • In 2012, the World Bank Logistics benchmarking tool, placed Jamaica at 124 out of 160 countries, but with the movement, the country is now ranked at 70 out of 160 countries.
  • The Minister reported that over the last 18 months, some of the biggest and most experienced players in the global logistics industry have been engaged by his Ministry.

Jamaica’s Logistics index has moved 54 places in just under two years, making the country more investment ready in the global logistics chain, according to a World Bank performance report.

In 2012, the World Bank Logistics benchmarking tool, placed Jamaica at 124 out of 160 countries, but with the movement, the country is now ranked at 70 out of 160 countries.

Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, who made the disclosure during his contribution to the 2014/15 Sectoral Debate in the House of Representatives on May 21, noted that a new paradigm for economic growth is being created.

“We are creating an enabling environment, where our businesses and budding entrepreneurs are beginning to see the opportunities and the tremendous promise of the Jamaica Logistics Hub Initiative,” the Minister said.

“We are making strides in becoming a logistics-centred economy. We have passed the test, and we have the interest and the backing of the global investment community,” he added.

The Minister reported that over the last 18 months, some of the biggest and most experienced players in the global logistics industry have been engaged by his Ministry, and they are assured of their investment returns in Jamaica, and the rest of the region.

“We are on the radar of major global corporations looking for a location to increase their operation efficiencies, and reduce time to market in this region of the world. Jamaica matters to the world trading system. We are receiving high investor interest in projects to improve and expand our existing seaport, industrial/commercial and ICT (information and communication technology) infrastructure,” he argued.

The Minister said while quality infrastructure is being developed, cross-border trade facilitation to manage the inflow and outflow of goods and service, is also receiving attention.

Mr. Hylton noted that enacting policies, legislation and regulations to govern a logistics-centred economy, is also underway, all of which will be “attractive and appealing to global and local investors alike.”