Industry, Investment and Commerce Minister, G. Anthony Hylton, is leading a high-level mission to China and Singapore from October 25- November 7, with the primary goal of promoting investment opportunities in logistics and other priority sectors in the Jamaican economy, and gleaning valuable insight and new perspectives to drive the development of Jamaica’s logistics industry.
The delegation, which includes Clive Fagan, Chairman, Factories Corporation of Jamaica (FCJ); Sancia Bennett Templer, President, JAMPRO; Reginald Nugent, Senior Advisor in the Ministry of Industry, Investment and Commerce (MIIC), and Eric Deans, Chairman of the Jamaica Logistics Task Force, will engage targeted potential investors in China from October 27 – November 4.
The discussions will explore collaborative and partnership possibilities for the development and operation of discrete aspects of Jamaica’s logistics hub project, as well as specific opportunities for investing in key sectors. The Jamaican delegation will also be working to advance existing investment leads that have been facilitated by the Embassy of Jamaica in China.
While in China, Minister Hylton will be engaging with his ministerial counterparts with a view to deepening the commercial and industrial relations between both countries. Specifically, in an effort to support increased investment from China, he will be pursuing discussions on the possible enhancement of the 1994 Bilateral Investment Treaty between Jamaica and China.
For the Singapore leg of the mission, which will run from November 4 – 7, Minister Hylton and his teamwill also seek to understand the physical and virtual infrastructure used to support the development of the local logistics sector in Singapore, which has contributed to the country becoming the world’s leading logistics centre. In addition to this, they will focus on exploring avenues of collaboration and technical assistance for establishing Jamaica’s logistics hub project.
Singapore and Panama have been identified as the two countries that possess sufficiently developed logistics industries and similar geo-economic status as Jamaica. In late September 2012, Minister Hylton led a delegation to Panama to both benchmark Jamaica against their proposed developments in the logistics sphere and to pursue potential partnerships with investors in the logistics area. The upcoming visit to Singapore represents the second segment of the international benchmarking exercise, which seeks to assess the approach taken by that country over the past few decades towards positioning themselves as a premier logistics hub globally and to explore potential investment partnerships.
This mission to Asia is being coordinated by JAMPRO, with significant support from Jamaica’s Embassy in Beijing, and is in keeping with the agency’s mandate to attract productive investment to the island in key competitive sectors and within the context of a challenging global economic landscape. Additionally, JAMPRO has been the leading agency in the concept development stage of the logistics hub and will be a key stakeholder of the Logistics Investment Task Force.
CONTACT: JAMPRO Corp Communications- M. Thomas firstname.lastname@example.org; 978-7755-7