Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill (second right), shares in discussion with (from left) Head of the European Union (EU) Delegation to Jamaica, Ambassador Marianne Van Steen; Director with the EU, Felix Fernandez Shaw; President of the Shipping Association of Jamaica (SAJ), Corah Ann Sylvester; and Chairman of Jamaica Producers Group, Charles Johnson. Occasion was a press briefing held at the Kingston Wharves Limited Corporate Office on Friday (January 26)
Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill has welcomed the involvement of the European Union (EU) in the redevelopment of Newport West.
The EU will be making funding available for a study and a business model, that will result in the area becoming a world class logistics facility, and a competitive resilient economic zone.
Speaking at a press briefing held at the Kingston Wharves Limited Corporate Office on Friday (January 26), Minister Hill said the group “understands that we want to be become the logistics hub of the region”.
The Minister informed that the level of investments and expertise that Jamaica is seeking to attract for Newport West, will not come without a study that is comprehensive and detailed.
“They have agreed to help fund that study. At the higher level, we will be looking at Jamaica’s Special Economic Zone, because we intend to become the logistics in the region Guyana is developing. They do not have a deep-water port, and no big ship can go in there, Jamaica then is the natural transshipment area to feed Guyana,” Mr. Hill stated.
The press briefing was attended by private sector investors, officials from the European Investment Bank, and other personnel from the EU.
Mr. Hill stated that the study will aid the European Investment Bank, and local investors, while adding that the local market, such as the pension fund, has money that can be put into long-term investments, “so, a development like this in the port, would be ideal for them”.
The EU delegation participated in numerous activities such as a tour of the German Ship Repair (GSRJ) Jamaica facility at Harbour Head, in Kingston. The itinerary also included visits to both port terminals, Kingston Freeport Terminal Limited (KFTL) and Kingston Wharves Limited (KWL), including the KWL Global Auto Logistics Centre.
Funding for the redevelopment of Newport West, will be channelled through the EU Global Gateway Agenda.
Source: JIS
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The Ministry of Industry, Investment and Commerce is described as Jamaica's "Business Ministry." It's mandate is to lead the development of policies that will create growth and jobs, while achieving social inclusion and consumer protection. The Ministry, working its stakeholders is primarily responsible for business policy development, monitoring and evaluation, while giving direction and oversight to a cluster of implementing departments and agencies.
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