The Government of Jamaica has embarked on the GLOBAL LOGISTICS HUB INITIATIVE (GLHI) to capitalise on the trade and business opportunities that will emanate from the expansion of the Panama Canal. Jamaica already has a very vibrant shipping industry,
and Kingston Harbour is the seventh largest natural harbour in the world.
Jamaica’s Logistics Hub will be the fourth global logistics node, joining Singapore, Dubai and Rotterdam. It will establish the country as a significant player in the global shipping and logistics industry, and potential investors and business interests will send themselves in striking distance of a market of 800 mil- lion people including North America and Brazil. The Logistics Hub will be perfectly positioned to receive Post-Panamax ships traveling from the Asia-Pacific region, as these vessels will now have a direct shipping lane from the Pacific Ocean to the Atlantic Ocean (Eastern Seaboard and South Atlantic).
Jamaica will have greater opportunity to handle increased volumes of transhipped cargo and the proposed development of an economic zone will facilitate the expansion of the country’s manufacturing sector. Companies will be more inclined to locate their operations in Jamaica to take advantage of the more efficient shipping route to the Americas, which will be created by the expansion of the Canal.
The development of Jamaica’s transportation, maritime, aviation, road and rail and logistics infrastructure will position the country as a leading logistics destination. All components for the Hub will be synergized to present seamless logistics services to the international trading community. A critical component
of the global logistics hub initiative is the broadening of bilateral collaborations with Jamaica’s global partners, and encouraging private sector investment and financing through private-public partnerships (PPPs).
The initiative will provide a myriad of opportunities for global and domestic commercial and industry interests. Several cornerstone projects, which represent investment opportunities, include:
- Port of Kingston – The dredging of Kingston Harbour and the expansion of the Port of Kingston will facilitate the dock- ing of bigger ships
- Cow Bay, St. Thomas – Proposed deep water site for the development of a commodity port
- Jackson Bay – This location will be developed as a dry dock for ship repairs and maintenance
- Caymanas Economic Zone (CEZ) – This is a three-pronged investment opportunity consisting of an economic/industrial zone, a technology park and a facility providing renewable energy to these ventures
- Vernam eld – Located on 2,900 acres of land, Vernam eld is envisioned as a cargo aerodrome, warehousing facility and industrial centre
- Jamaica Railway – The railway is an integral part of the Hub as it will facilitate movement of cargo to and from the eco-nomic zones to key seaports and airport
- Norman Manley International Airport & Aerodromes –
This airport is one of three international airports in and a key transfer airport within the region