Jamaica now logistics 'hub active', says Hylton
INDUSTRY MINISTER Anthony Hylton has said Jamaica has moved beyond being hub-ready, telling parliamentarians that the Government has created a framework of integrated logistics-related projects which is bearing fruits.
"We are improving the business environment to mobilise assets and unlock investments. We are now hub active," the minister told legislators as he contributed to the Sectoral Debate in the House of Representatives last week.
Among the rewards which Hylton said is being reaped as a result of targeted high-level investment missions is the signing of a concession agreement for the Kingston Container Terminal.
"Under this agreement, an expenditure of over US$600 million is contracted to modernise and to prepare for the increased maritime traffic," Hylton said.
Kingston Wharves investment
The minister also said that Kingston Wharves Ltd (KWL) is one of the first major local investors to roll out its logistics investment plans. He said KWL will be investing more than $7 billion over the next five years, with activities including the construction of a 150,000sqft logistics facility in Newport West in the first phase of development.
The Government has sought to position the logistics hub as Jamaica's economic saviour, saying it has the ability to provide countless jobs for Jamaicans.
Hylton has said that his ministry is positioning the country as a logistics-centred economy, but argues that this is not just about ports and port-related activities.
"At the heart of it, is the local productive sector," Hylton said.