- The Government’s preparations for Jamaica’s transition to a logistics-centred economy are well underway with the implementation of several key engagements.
- This engagement will be implemented under World Bank loan funding support that has been provided for the Administration’s Foundation for Competitiveness and Growth Project.
- “Jamaica is blessed with a wonderful geographic location for logistics activities...
The Government’s preparations for Jamaica’s transition to a logistics-centred economy are well underway with the implementation of several key engagements.
The latest is the commencement of work by international consultancy firm, Nathan Associates Inc., to conduct an industry analysis and develop a master plan for the Logistics Hub Initiative (LHI).
The Government, through the Planning Institute of Jamaica (PIOJ), has engaged the services of Nathan Associates, a group of economic consultants with headquarters in the United States, to conduct the 14-month study that will be executed by sub-consultants – Berger ABAM.
This engagement will be implemented under World Bank loan funding support that has been provided for the Administration’s Foundation for Competitiveness and Growth Project.
Head of the Logistics Unit in the Ministry of Economic Growth and Job Creation, Dr. Eric Deans, explains that the industry analysis and master plan will provide the developmental road map to establish Jamaica as a global logistics hub.
He says Nathan Associates’ market analysis will provide the rationalisation and prioritisation for investment in the industries that will best develop the hub.
This includes looking at the current demand and potential in Jamaica; analysing the country’s standing relative to potential regional competitors; determining best practices in developing a global logistics hub; and identifying industries and sectors that will best support the logistics hub.
The master plan, Dr. Deans tells JIS News, will incorporate the projected demand and planned investments to create a long-term national logistics development plan.
“The master plan and analysis are broken down into two phases, with phase one consisting mostly of data gathering and analytical tasks. It includes the visioning exercise; a cargo analysis; benchmarking analysis; study of the existing industries; and the preparation of an industry analysis,” he outlines.
Phase Two, Dr. Deans says, will focus on a gap analysis, preparation of the actual master plan and a development plan for creating the global logistics hub.
Nathan Associates’ Senior Vice President and Global Advisor for Ports and Infrastructure, Dr. Paul Kent, says the market analysis will cover several areas.
These include: a review of current trends, demands, and potential for Jamaica to perform as a global logistics hub; development of a cohesive vision for the hub that incorporates ongoing initiatives of various Ministries and Agencies; assessment of the prospects for growth and relocation of current and potential industries, respectively; and identification of areas for improvement that will help Jamaica achieve global hub status.
“Jamaica is blessed with a wonderful geographic location for logistics activities. The country is smack in the middle of the world’s biggest shipping lanes and when the (newly reconstructed) Panama Canal opens, some of the world’s largest vessels will be transiting the region for the first time, “Dr. Kent highlights.
He adds that the project will “position Jamaica to be a logistics-centred economy (thereby enabling) the country (to) establish itself as the logistics hub for the region.”