Development of Jamaica’s Logistics Hub Initiative (LHI), which could see Jamaica attracting potential investments totalling over US$28 billion and generating about 80,000 direct and 400,000 indirect jobs, was advanced during the year. The LHI seeks to establish Jamaica as the fourth node in the global supply chain.
Special Economic Zones (SEZs)
• The office of the Jamaica Special Economic Zone Authority (JSEZA), located on Waterloo Road, was officially opened.
• JSEZA, Jamaica Customs Agency (JCA) and Tax Administration Jamaica (TAJ), signed a Memorandum of Understanding (MoU) to strengthen cooperation for the development of Special Economic Zones (SEZs) under the LHI.
• Prime Minister Holness announced that 104 free-zone companies have attained SEZ designation, following an audit by JSEZA. The approved entities have operations at 126 locations across 11 parishes.
• A framework agreement was signed between the Governments of Jamaica and the People’s Republic of China under which Chinese entity, Jiuquan Iron and Steel Company (JISCO), plans to develop the Jamaica-Gansu Industrial Park and Special Economic Zone in Nain, St. Elizabeth – another major project under the LHI.
• The total investment of US$ 6 billion includes expansion of the JISCO-Alpart plant.