Port community system aiding in growth and development
While trade is a major component of Jamaica's economy, many believe the country has a complex, inefficient and bureaucratic trade environment. This is in line with the country's low ranking on the World Bank's Doing Business and Logistics Performance Index Reports for 2016.
In order to address this situation, the Port Authority of Jamaica and its strategic partners have been working assiduously to implement a Port Community System (PCS), which will serve as Jamaica's central hub for trade and logistics information processing.
Some of the benefits to the port community's stakeholders include:
• streamlined and standardised business processes
• reduced, consistent cargo clearance times and efforts
• reduced paper-pushing efforts, errors, movement and delays
• increased transparency of cargo activities and decreased corruption.
NEW BUSINESS OPPORTUNITIES
These benefits will enhance Jamaica's trade-facilitation capabilities, allowing businesses to focus on providing value-added services to customers, thus creating new business opportunities.
Benefits also extend to Jamaican businesses operating across various sectors that will enjoy the increased access and penetration of global markets. Commerce will be transformed with increases in product variety, quality, competition and innovation. As such, end consumers will enjoy the benefit of better choices, better prices and better service.
With the PCS, Jamaica will better master the administrative controls required to successfully operate as a logistics hub. The country will be more equipped to attract foreign investments, boost job creation, and encourage major business opportunities through the provision of a platform for growth and economic advancement.