“This investment is a sign that even though the challenges seem insurmountable, this Government and future Governments must be committed to chipping away at the problem with greater and more meaningful investments that are going to create jobs and earn foreign exchange,” said Prime Minister Holness.
Prime Minister Andrew Holness has hailed the new Kingston Logistics Park (KLP) as a big step in developing Jamaica’s logistics industry and creating a new stream of foreign exchange that will make the economy more robust to withstand shocks.
The Prime Minister highlighted the importance of new and resilient industries such as the Business Process Outsourcing (BPO) sector, which continued to bring in foreign exchange even as tourism revenues declined due to the COVID-19 pandemic. Considering this, Prime Minister Holness said, “Now we’re trying to develop another industry, similar to BPOs, but it’s a distinct industry in logistics. And this [Kingston Logistics Park] is a big step in that direction.”
The Kingston Logistics Park is a $US 17 million investment and it boasts a 200,000-square metre warehouse which can accommodate up to four large clients. Moreover, it is close to other significant terminals and free zones with easy access to a constantly expanding road network.
Prime Minister Holness said: “This investment here today is a sign that even though the challenges seem insurmountable, this Government and future Governments must be committed to chipping away at the problem with greater and more meaningful investments that are going to create jobs and earn foreign exchange.”
Furthermore, the Prime Minister reported that the space was already tenanted and was ideally designed as an incubator for international firms wishing to set up a shipment base in Jamaica. Notably, the facility also has a Border Protection Centre, which houses the Container Security Initiative, a collaboration between the Jamaica Customs Agency (JCA) and the United States government. “These modern facilities will be better able to accommodate the work of the agencies, which are crucial to combatting the flow of contraband arms and unwanted chemicals and equipment across our terminals,” said Prime Minister Holness.
At the same time, the Prime Minister was keen on highlighting that key factors like Jamaica sitting directly on the East-West Trade Route and being the major trans-shipment port closest to the Panama Canal, make this an ideal investment. Prime Minister Holness added that Jamaica having the first and only fully functional Port Community System (PCS) in Latin America and the Caribbean provides an excellent advantage for trade facilitation.
The Prime Minister made the remarks yesterday (August 3, 2022) during his keynote address at the official opening of the Kingston Logistics Park on First Street in Kingston.