Leader of the Opposition, Andrew Holness, says projects such as the Global Logistic Hub Initiative should bring growth for the Jamaican economy.
Mr. Holness made the comment on Thursday, April 25, during his contribution to the 2013/14 Budget Debate in the House of Representatives.
He also cited work on the North/South Highway as another initiative that will boost the economy.
“The Chinese investments in the highways and the logistic hub, those projects should bring some growth to the country. The truth is that these projects are projects that we endorse,” Mr. Holness said, noting that there are some other private sector investment that should do well.
In his throne speech, on April 4, Governor-General, His Excellency the Most Hon. Sir Patrick Allen, outlined the growth agenda, which includes further work on the North/South Highway and the Kingston Container Terminal; the Logistics Hub Initiative; diversification of the tourism markets; expansion of hotel room capacity; and the establishment of the agro-parks.
The Government’s Global Logistics Hub initiative is aimed at taking advantage of the anticipated increase in maritime activities from the expansion of the Panama Canal, which is scheduled for completion in 2015.
In developing the hub, which will position the country as the world’s fourth node in the global supply and logistics chain, the Government is now moving ahead to prepare the workforce, build out the necessary infrastructure, and put in place the legislative arrangements.
The key elements of the Government’s global logistics hub initiative are: development of the Caymanas Economic Zone; dredging of the Kingston Harbour; expanding the port facility at Fort Augusta and Gordon Cay; establishing a Dry Dock facility at Jackson Bay, Clarendon; establishing a trans-shipment commodity port facility near Yallahs, St. Thomas; and developing an air cargo and passenger facility at Vernamfield, in Clarendon.
The initiative was unveiled last year and is one of the planks on which the Government intends to grow the Jamaican economy.
By Latonya Linton, JIS Reporter