Mon | Apr 24, 2017

Logistics By Number

Published:Friday | February 13, 2015 | 2:00 AM

8:

Jamaica now stands at 86 out of 144 countries on the Global Competitiveness Index. This move will have significant implications for the thrust towards the Jamaica logistics hub initiative.

Dr Eric Deans, head of the logistics hub task force in the investment ministry, has noted that the hub has to happen as it will give Jamaica a chance to diversify its industries and become more globally competitive.

He explained that the essence of the logistics hub is to attract companies to Jamaica and the hub would open Jamaica to several different industries outside of the agriculture and tourism sectors, with more focus being placed on "high-tech and new industries".

Deans added that micro, small and medium-size businesses will stand a chance to reap a wealth of benefits from having Jamaica as a globally competitive logistics hub.

"There are these large corporations who we are attracting to base their operations in Jamaica, which we will cluster with the range of suppliers that they need in the completion of their processes," Deans said, adding that they have already been approached by several companies wanting to start operating in the proposed special economic zones.