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Old May 3rd, 2014, 07:19 AM   #61
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Jamaicans More Hopeful About Job Prospects With Logistics Hub

May 1, 2014 | Posted by Tracy

KINGSTON, Jamaica — After years of planning, the proposed logistics hub has started to make some Jamaican consumers feel more optimistic about job prospects.

One in 5 of those who expected better job prospects mentioned the e-zone and the logistics hub, according to the latest Jamaica Chamber of Commerce (JCC) Conference Board survey of confidence.

What’s more, new government policies aimed at satisfying the latest International Monetary Fund (IMF) agreement boosted business confidence, “although those same policies were frequently cited as the main cause for continuing concerns about the strength of the domestic economy,” according to the report.

The consumer confidence index in the first quarter of 2014 climbed 10.7 percent over levels recorded in the last quarter of 2013, while business confidence jumped 20 percent.

Despite rapid devaluation, which is felt more immediately than the benefits of growth and job prospects, a record number of companies planned to undertake expansion over the year ahead, while consumer purchasing plans climbed to the highest level since mid-2012.

Consumers still viewed the current job market as dismal — 88 percent reported that jobs were scarce, compared with 93 percent three months before — while 57 percent expected job prospects to worsen during the year ahead.
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Old May 22nd, 2014, 09:26 AM   #62
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Multi-continental group expresses strong interest in Logistics Hub

Wednesday, May 21, 2014 | 7:12 PM

KINGSTON, Jamaica - Representatives of a major consortium of American, European, and Middle Eastern investors are currently in the island conducting due diligence, ahead of submitting a formal proposal for investment in several components of the Logistics Hub.

Minister of Industry, Investment and Commerce, Anthony Hylton said the consortium is mobilising equity financing in excess of US$4 billion to design, finance, build, and operate integrated components for the Hub.


The minister acknowledged the representatives who were in the House of Representatives today (May 21), as he made the announcement during his contribution to the 2014/15 Sectoral Debate.

He said the consortium had put forward a strong expression of interest in several components of the Logistics Hub initiative, in response to the Ministry’s promotion of the initiative internationally, over the past 18 months.

Hylton disclosed that while here, the group will meet with a number of key agencies of the Government, as part of their preparatory work, before submitting their formal proposal.
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Old May 22nd, 2014, 09:28 AM   #63
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This would provide a massive economic boost; I'm hoping that it will come to fruition.
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Old October 10th, 2014, 03:49 AM   #64
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New Logistics STEW. One-Stop Trade Shop To Complement SEZ Plans

Published: Wednesday | October 8, 2014

Minister of Industry, Invest-ment and Commerce Anthony Hylton says the special economic zones (SEZ) to be rolled out, starting in 2016, will be the signal to large international investors that Jamaica is ready for big investments along the value chain.

The SEZ - slated to replace export-subsidised free zones - will provide "superior market-access arrangements through a network of trade arrangements that will minimise trade duties in the major trade lanes," Hylton said on Monday at the ministry's latest logistics confab in Kingston.

As those plans take shape under a new policy that will be codified into law, Hylton also disclosed that he is working on a plan to make it easier for companies to conduct cross-border trade.

The ministry is creating a Single Trade Electronic Window (STEW), aimed at integrating the Port Community System of the Port Authority of Jamaica, the Jamaica Customs Agency's management system, ASYCUDA World, as well as the trade facilitation systems of various governmental authorities.

Details of the project were sparse, but Wednesday Business was advised that STEW will be implemented and managed by the Trade Board Limited as a "one-stop trade shop". Trade Board representatives said STEW will allow businesses to funnel their trade-related applications through one portal and track approvals from relevant agencies.
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Old March 11th, 2015, 11:28 PM   #65
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MOU To Be Signed With Logistics Investor

Published:Wednesday | March 11, 2015


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From left: Minister Anthony Hylton, Prime Minister Portia Simpson Miller and JAMPRO President, Diane Edwards at the opening of the Jamaica Investment Forum today.
Cabinet has approved the signing of a Memorandum of Understanding (MOU) with an investor group that has expressed strong interest in investing in a series of logistics-related infrastructure projects.

Minister of Industry, Investment and Commerce, Anthony Hylton, made the announcement this morning at the Jamaica Investment Forum now on at the Montego Bay Convention Centre.

According to Hylton, the new investor has proposed projects, which have a combined investment value of just over US$5 billion.

"Projects that will transform the business landscape for logistics in Jamaica and position the country for increased investments in related sectors such as manufacturing, outsourcing, financial services, tourism, and of course agri-business and creative industries," he explained.
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Old July 9th, 2015, 11:06 PM   #66
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Jamaica's hub dream may benefit from CMA/China alliance

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com

Wednesday, July 08, 2015

PRESIDENT and CEO of the Port Authority of Jamaica Gordon Shirley reckons that Jamaica could benefit from French shipping giant CMA CGM's decision to partner with China on a US$1- billion ship and financing facility and the development of the 'One Belt, One Road' project.

The development comes roughly a month after the concessionaire of the Kingston Container Terminal expansion project signed an agreement with Cuba for the development of the Mariel Logistics Hub, which raised concerns especially as it related to the full ownership of Terminal Link CMA CGM and the ability of the entity to fast-track Jamaica's port development and the dredging of the ports.

But Shirley told the Jamaica Observer that this new agreement "might result in the expansion moving faster as the alliance between the largest countries on the globe with some of the largest lines to develop assets is going to change the way maritime trades."

"One has to place what is happening in the Caribbean in the place of those global developments to understand the full implication. Today there are four alliances together that accounts for over 85 per cent of all the cargo that we use across the globe that is now becoming highly concentrated. In parallel with that we have the formation of global terminal operators," Shirley told the Business Observer.

He was speaking at the Private Sector Organisation of Jamaica and Jamaica Money Market Brokers Imperatives for Growth -- Options and Opportunities Forum at the Jamaica Pegasus yesterday.

According to reports, CMA CGM and the Export-Import Bank of China (CEXIM) have signed a framework agreement on financing solutions for a total of up to US$1 billion in the form of loans and/or export credit insurance. The solution is expected to bring the carrier lower-cost financing which will be available for the future vessels and containers the group may order from the country.

Over the years, the CMA CGM Group has been ordering most of its containers from the Chinese group CIMC. The Group will be taking delivery of three 18,000 twenty-foot equivalent unit (TEU) ships from Chinese shipyards later this year.

The shipping giant stated that it would jointly investigate and develop opportunities from Beijing's 'One Belt, One Road' project and collaborate on the Maritime Silk Road, which is aimed at boosting trade to and from China.
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