Advertisement
JIS News

Story Highlights

  • Members of Jamaica’s business sector will be locked in discussions with leading authorities on logistics hubs and international financiers from January 21 to 22.
  • The event, under the theme: ‘Jamaica Logistics Hub Symposium: ‘Transforming Jamaica’s Business Landscape,’ is being organised by JCC.
  • The symposium will be exploring “investment and business opportunities and manufacturing possibilities".

Members of Jamaica’s business sector will be locked in discussions with leading authorities on logistics hubs and international financiers from January 21 to 22, as they explore investment opportunities to be created by the highly anticipated Global Logistics Hub Initiative.

The event, under the theme: ‘Jamaica Logistics Hub Symposium: ‘Transforming Jamaica’s Business Landscape,’ is being organised by the Jamaica Chamber of Commerce (JCC) in collaboration with the Ministry of Industry, Investment and Commerce, JAMPRO, and the Jamaica Business Development Corporation (JBDC).  It is scheduled to be held at the Jamaica Conference Centre, downtown Kingston.

President of the JCC, Francis Kennedy, informed that the symposium will bring together experts from the world’s leading logistics hubs, business leaders, and international funding agencies to share insights, provide clarity on related issues as well as discuss factors critical to the success of the project.

Noting that the proposed logistics hub is the single largest project to be undertaken by the Government and supported by the private sector, Mr. Kennedy, said the symposium will be exploring “investment and business opportunities, manufacturing possibilities, the various types of commercial zones being considered and the time horizon in which Jamaica is to ready itself to take advantage of this national project.”

The JCC President, who was addressing a launch event for the symposium held on Thursday, January 9, at JAMPRO’s head office in New Kingston, informed that there will be special discussions geared towards Micro, Small and Medium-sized Enterprises (MSMEs), in terms of encouraging, preparing and generating new business ventures,  and innovations through clustering.

“Additionally, the symposium will examine workforce needs, exploring new skills-sets required for an efficient, global logistics hub; the need for a labour force with world-class certification; plus the avenues available for upgrading local skills to meet new demands,” he disclosed.

Mr. Kennedy outlined that at the end of the two-day symposium, it is hoped that business leaders, investors and MSMEs will be able to identify business prospects; assess the potential investment opportunities for local investors; garner a greater understanding of the feasibility of a logistics hub; obtain ideas for long-term planning and business readiness; and grasp the need for man power management and planning.

“Having done all this, Jamaica should be ready to move forward translating the information into creative strategies for a sustainable and profitable business,” he stated.

He pointed out that the hub initiative has the scope to propel Jamaica to become a major player in the global trade as the world’s supply networks change and new trade corridors become visible.

In endorsing the symposium, JAMPRO President, Dianne Edwards, said Jamaicans in every walk of life can benefit from the far-reaching opportunities of the logistics hub.

She noted that the symposium will seek to de-mystify the perceived complexities around Jamaica’s ambition to become the next major global logistics hub.

The JAMPRO head observed that as the country moves forward, it will be important that the local business community is fully informed and prepared for what is to come in 2015 and beyond.

“JAMPRO stands ready to play its part in being a catalyst for business at all levels in the society. We are pleased to endorse this move by the Jamaican private sector, and I say … you can count on JAMPRO to be your trusted business partner in this groundbreaking growth initiative for our country,” she stated.

Day one of the symposium will look examine a number of issues including: integrating Jamaica into the global value and supply chains; outline the Government’s vision and infrastructural plans in developing a logistics hub; and the national growth agenda, including implications for funding and international competitiveness, with representatives from the World Bank, Inter-American Development Bank and the Caribbean Development Bank.

Day two will provide practical presentations from representatives of countries with logistics hubs outlining the road map to development of a profitable logistics hub.