KINGSTON, Jamaica (JIS) –The Government is projecting that 170 jobs will come from investments of US$204 million in logistics and manufacturing during the current fiscal year.
Minister without portfolio in the Ministry of Economic Growth and Job Creation, Daryl Vaz, said investment of US$104 million is projected for logistics, which will see the creation of some 70 jobs across various subsectors, including airports and seaports, railway, transhipment infrastructure and dry-docking.
Vaz, who was making his contribution to the 2017/18 Sectoral Debate in the House of Representatives on Tuesday, said the expansion in logistics will be facilitated through the Special Economic Zone (SEZ) Regulations, which is being finalised.
He informed that phase one of the Logistics Industrial Analysis Master Plan has been completed, and phase two is expected in a few months.
In manufacturing, the projects to come on stream are expected to create capital expenditure of some US$100 million and create 100 jobs.
Minister Vaz told the House that the Government is having discussions with the Jamaica Manufacturers’ Association (JMA) to see how the Development Bank of Jamaica (DBJ) and the Factories Corporation of Jamaica (FCJ) can facilitate expansion of the sector, particularly with regard to the provision of needed factory space on favourable credit terms.