Tweet
Jamaicans really serious.... about being stupid 
Free Zones To Be Replaced By 16 Special Economic Zones
Published: Friday | January 24, 2014
Minister of Industry, Investment and Commerce Anthony Hylton (left) greets Chairman of the MIIC Logistic Hub Task Force, Dr Eric Deans, at the Jamaica Logistics Hub Symposium, at the Jamaica Conference Centre, Kingston, on Wednesday.Rudolph Brown/Photographer
Jamaica must phase out its free zones by 2015 in keeping with trade commitments to end export subsidies, but the Government is using the opportunity to phase in a replacement.
At least 16 locations are to be designated special economic zones (SEZ) that will offer producers special incentives and will eventually be open to all companies - local and foreign.
Industry Minister Anthony Hylton said this week that the SEZ project is a fairly complex undertaking, especially the tax-incentive component, and has sought help to structure the programme.
"We are working with the World Bank for some support right now," he said.
The creation of the SEZ and legislation to back their operation is a new dimension of the Jamaica logistics hub project.
Dr Eric Deans, chairman of the industry ministry's Logistics Hub Task Force, says the Kingston Container Terminal, Norman Manley International Airport (NMIA), Vernamfield in Clarendon and the controversial Goat Islands project, among others, are included in the 16 economic zones.
"Building is already going on in (some of) those areas," Deans said.
The development of Vernamfield would allow for Jamaica to have an airport runway of up to 14,000 feet in length, compared to the current 8,000 feet runways at both NMIA and Sangster International airports.
The "flagship" project is the Caymanas Economic Zone, which will eventually comprise 1,700 acres, vastly bigger than the 40 acres which currently make up the Kingston Free Zone.
A developer for the first 200 acres of the Caymanas property has been identified but a deal is still to be finalised.
Eventually, the Government aims to sell the entire Jamaica as a business hub.
"We want to get to the stage where there is one large SEZ called Jamaica," said Deans at a Gleaner Editor's Forum on January 14.
A SEZ concept paper has been prepared but awaits sign-off by Cabinet. The programme is to be legislated.
The economic zones are built into the global logistics hub project led by the Ministry of Industry.
Deans said the master plan for Jamaica's logistic hub is still being formulated, but said its absence is not affecting the development of the separate pieces.
"The overall master plan is currently being done with support from the World Bank," said Deans. That plan is costing US$2 million (J$213 million). Another plan for the development of downtown Kingston is being drafted at a cost of US$1 million (J$106 million).
richard.browne@gleanerjm.com
Free Zones To Be Replaced By 16 Special Economic Zones
Published: Friday | January 24, 2014
Minister of Industry, Investment and Commerce Anthony Hylton (left) greets Chairman of the MIIC Logistic Hub Task Force, Dr Eric Deans, at the Jamaica Logistics Hub Symposium, at the Jamaica Conference Centre, Kingston, on Wednesday.Rudolph Brown/Photographer
Jamaica must phase out its free zones by 2015 in keeping with trade commitments to end export subsidies, but the Government is using the opportunity to phase in a replacement.
At least 16 locations are to be designated special economic zones (SEZ) that will offer producers special incentives and will eventually be open to all companies - local and foreign.
Industry Minister Anthony Hylton said this week that the SEZ project is a fairly complex undertaking, especially the tax-incentive component, and has sought help to structure the programme.
"We are working with the World Bank for some support right now," he said.
The creation of the SEZ and legislation to back their operation is a new dimension of the Jamaica logistics hub project.
Dr Eric Deans, chairman of the industry ministry's Logistics Hub Task Force, says the Kingston Container Terminal, Norman Manley International Airport (NMIA), Vernamfield in Clarendon and the controversial Goat Islands project, among others, are included in the 16 economic zones.
"Building is already going on in (some of) those areas," Deans said.
The development of Vernamfield would allow for Jamaica to have an airport runway of up to 14,000 feet in length, compared to the current 8,000 feet runways at both NMIA and Sangster International airports.
The "flagship" project is the Caymanas Economic Zone, which will eventually comprise 1,700 acres, vastly bigger than the 40 acres which currently make up the Kingston Free Zone.
A developer for the first 200 acres of the Caymanas property has been identified but a deal is still to be finalised.
Eventually, the Government aims to sell the entire Jamaica as a business hub.
"We want to get to the stage where there is one large SEZ called Jamaica," said Deans at a Gleaner Editor's Forum on January 14.
A SEZ concept paper has been prepared but awaits sign-off by Cabinet. The programme is to be legislated.
The economic zones are built into the global logistics hub project led by the Ministry of Industry.
Deans said the master plan for Jamaica's logistic hub is still being formulated, but said its absence is not affecting the development of the separate pieces.
"The overall master plan is currently being done with support from the World Bank," said Deans. That plan is costing US$2 million (J$213 million). Another plan for the development of downtown Kingston is being drafted at a cost of US$1 million (J$106 million).
richard.browne@gleanerjm.com
