Business View Caribbean - March 2016 25
economic zones to provide an industrial platform for
global multi-nationals to operate their manufacturing
and logistics operations here in Jamaica.
“So, a lot is happening. And we are focused, as well,
on our internal logistics, meaning our network of high-
ways and railways to link into these special economic
zones and to create that environment for large multi-
nationals to position themselves in this hemisphere
and participate in global trade. So, we see the mega-
ports of Singapore, Dubai, and Rotterdam, and we
want to duplicate that here in Jamaica.”
Will there come a day when the ribbon is cut and the
world recognizes Jamaica as the fourth hub, or is it
an ongoing process?
“It is an ongoing process, but there’s a minimum set
of developments we all look to: an improved maritime
and transshipment hub port, improved aviation and air
cargo, links by rail, and the development and expan-
sion of special economic zones. These are some of the
minimum conditions. We’re also looking at our inter-
national financial services hub, because we believe it
ties in very neatly and synergistically with logistics ser-
vices across a range of activities. So, we’re developing
a financial services sector based, not on tax havens
or anything of that nature, but on the critical services
component of the Jamaican labor force and its ability
to deliver legal accounting, and banking services to fi-
nancial entities.”
Can you speak about the role of foreign investment
over the last several years?
“We’ve had a growth in investment. When this admin-
istration entered office investment had fallen to about
$200 million. Now it’s over $1.2 billion in the calendar
year just ending. And we look forward to more signifi-
cant investment, based upon our policies and strat-
egies. Foreign investors have brought their creativity,
their linkages, and their best practices, especially in
the area of logistics. And we look forward to increasing
these investment activities over the coming year.”
What are your Ministry’s goals for the next few years
and what challenges need to be overcome in order
to meet them?
“The goals for our division are the ones set forth in
our ‘Vision 2030’ (the country’s National Develop-
ment Plan). We see Jamaica becoming a developed
economy and society by that period of time. What that
translates into is the quality of life – Jamaica being the
choicest place to live, work, raise a family, and do busi-
ness. This Ministry has a significant role to play in the
economic growth and job creation aspects of it.
“We have to move our unemployment rate from 12
percent down to a manageable five or six percent. We
have to increase the rate of growth of our economy to
make that possible, which means we have to expand
