The transformation of Jamaica into a global logistics powerhouse requires a multi-agency, public, private partnership approach. Integration is at the heart of logistics and Jamaica has a long history in this area. Our ports, road networks and IT infrastructure rank highly on an international scale.
Jamaica’s history in SEZs dates back to 1976 when the first Zone was created with the goal of industrializing the country, as well as increasing foreign exchange and access to technology. With an economic shift in the 1980s, export-led industrialization became key to Jamaica’s economic development, and more effort was put into attracting foreign enterprises to the zone. Recognising the magnitude of the opportunity and with the large-scale job creation that accompanied the transformation, a second SEZ was opened in Montego Bay in 1988. At its peak, the Kingston and Montego Bay Free Zones employed over 36,000 locals.
Today, Jamaica is poised to grow exponentially from the development of SEZs. This is due to the fact that with SEZs an entire ecosystem is created that fosters integration into the global supply chain and provides a platform for new industries to emerge. SEZs also provide scope for the integration of traditional industries into the global value chain. More and more Jamaica is becoming a prominent feature on the radar of multi-national firms seeking to re-engineer their global supply chains. This also provides an opportunity for our large MSMEs who can also benefit from the backward and forward linkages that can be created within the local economy.