World Bank to assist in Jamaica’s logistics hub plans

A 16 person delegation from the World Bank Group visited Jamaica last month for consultations on Jamaica’s Country Partnership Strategy which will feature the Logistics Hub Initiative and which will govern the relationship between the island and the World Bank between 2014 and 2017.

High level discussions have already started with a number of overseas investors to develop vast areas of prime real estate to handle increased volumes of air and sea cargo. Projects under discussion include the growth of container throughput at the Port of Kingston ahead of the expansion of the Panama Canal, as well as the development of commodity ports to handle petroleum products, coal, minerals and grain and the expansion of existing airports and construction of an air cargo airport. Special economic zones are also envisaged by a wide range of local and foreign investors

Once completed the initiative, which is being spearheaded by the Jamaica Ministry of Industry, Investment and Commerce, will transform Jamaica into the fourth node or pillar in the global supply and logistics chain alongside Singapore, Dubai and Rotterdam. A critical element in the equation to make the Logistics Hub successful is the involvement of suitable, long‐term investors.