NEW STIMULUS
TBY talks to Gordon Shirley, President & CEO of the Port Authority of Jamaica (PAJ), on the country's developing role as a logistics hub, attracting more cruise ships, and his outlook for the economy at large.
BIOGRAPHY
Gordon Shirley is the President & CEO of PAJ. Prior to this, he was the Pro Vice Chancellor and Principal of the University of the West Indies. He is a graduate of the UWI with a degree in engineering and has an MBA from Harvard University in operations and finance and a PhD in business administration in operations management.What is your role in developing a global logistics hub in Jamaica?
The PAJ signed a concession agreement with Terminal Link Consortium, owned by CMA/CGM, for a period of 30 years to finance, expand, operate, and maintain the Kingston Container Terminal (KCT). This concession supports Jamaica's efforts to become a global leader in trans-shipment as well as a global logistics hub. In support of this agreement, the government of Jamaica and the PAJ are providing the necessary space for landside near-port logistics operations and are commencing the development of the new Kingston Logistics Park (KLP). With this development of modern warehouses, Jamaica is providing a new stimulus to offer modern logistics facilities, as the existing facilities at Kingston Free Zones are old and less attractive to international logistics companies. The park is designed to host logistics and value-added activities/light industrial activities to support the modern port infrastructure that will be available in the Port of Kingston and will have special economic zone (SEZ) status. This will allow firms to fully utilize a wide range of favorable conditions for international trade such as the exemption of duties and taxes and attractive lease prices. This brand-new KLP will be operational in August 2018. It contributes to Jamaica's ambition to develop from a global trans-shipment hub to global logistics hub. Logistics companies and large international trading companies can now seek the opportunity to take advantage of Jamaica's strategic and cost-effective position in global cargo trade. KLP will be located adjacent to the Kingston Port and operate in the same SEZ. The PAJ is developing and implementing the KLP to provide, for the immediate term, modern facilities to showcase Jamaica's logistics potential. These initial warehouses can be considered as incubators, to enable firms to “try before they buy." Warehouses can be configured to accommodate from 500 to 5,000sqm, focusing on import and re-exporting to regional destinations including in the Caribbean, Central and South America, and the Gulf and East Coast of the US.
How could Jamaica attract even more cruise ships in the future?
In the short to medium term our specific focus is the upgrading of our existing cruise port facilities; however, in the longer term we will seek to develop additional berths. Last year we began the upgrading of the terminal buildings in Montego Bay to accommodate two homeports simultaneously. This year we have been upgrading the berthing capacity at the Reynolds Pier facility in Ocho Rios, which will allow us to accommodate two post-Panamax vessels in the same day in Ocho Rios. Next year we will be dredging the Port of Falmouth to accommodate two Oasis-class vessels, the largest class of cruise vessel in the world, at the same time. Additionally, for the long term, we are also evaluating other areas of the island that may be ideally suited for cruise shipping growth. Dredging works will be undertaken at the historic Falmouth Port this year to increase the port's capacity. Currently the port can facilitate one Oasis-class and one Freedom-class vessel simultaneously. Expansion works will enable to port to berth two Oasis-class vessels at the same time. Extensive development has been undertaken at the Port of Montego Bay to increase the port's competitiveness and improve the cruise passenger experience. This includes the construction of a new cargo berth and the expansion of the cruise shipping terminal as well as the addition of a new shopping arcade and other amenities. Jamaica will also need to give sharp focus to the development of new attractions and continue to implement strategies to reduce cruise visitor harassment in order to improve its attractiveness as a cruise ship destination.
What positive trends do you see for the Jamaican economy?
The local economy continues to demonstrate positive trends generally and reflects the outcome of the economic policies being pursued by the government. The level of unemployment is decreasing, and new jobs are being created especially in the business process outsourcing (BPO) industry, where the authority is a major player in the BPO investment space. Inflation continues to be low and this is as a direct result of relatively stable oil prices along with the government's efforts to streamline related policies.
NEW STIMULUS
TABLE OF CONTENTS
Interview
Most Honourable Andrew Holness, Prime Minister, Jamaica
TBY talks to the Most Honourable Andrew Holness, Prime Minister of Jamaica, on efforts to foster sustainable and inclusive growth, the main challenges ahead for the nation, and its key successes in improving the business environment.
read articleInterview
Diane Edwards, President, Trade & Investment Jamaica (JAMPRO)
TBY talks to Diane Edwards, President of Trade & Investment Jamaica (JAMPRO), on making investments throughout the whole value chain, becoming a regional distribution hub, and boosting niche agricultural output.
read articleInterview
Courtney O. Campbell, President & CEO, Victoria Mutual
TBY talks to Courtney O. Campbell, President & CEO of Victoria Mutual, on the origins of financial inclusion in Jamaica, helping people get a start on their property journey, and assisting young businesses to exploit a positive business environment.
read articleInterview
Raymond Walker, Founder, Chairman & CEO , Caribbean Assurance Brokers Ltd. (CAB)
TBY talks to Raymond Walker, Founder, Chairman & CEO of Caribbean Assurance Brokers Ltd. (CAB), on fighting for its clients, using environmentally sound methods to drive down costs, and continuously driving innovation.
read articleInterview
Emanuel DaRosa,, President & CEO, Jamaica Public Services (JPS)
TBY talks to Emanuel DaRosa, President & CEO of Jamaica Public Services (JPS), on pursuing common goals in the best possible way, utilizing Jamaica's most abundant natural resources, and satisfying half of Jamaica's energy needs through renewables.
read articleInterview
Winston Watson, Group General Manager, Petroleum Corporation of Jamaica (PCJ)
TBY talks to Winston Watson, Group General Manager of Petroleum Corporation of Jamaica (PCJ), on keeping a hand in both green and black energy, helping the government reach its 2030 Energy Vision targets, and educating people on the importance of conservation.
read articleFocus: LNG Investments
Light My Fire Jamaica
The Jamaican government is pushing private investment in liquefied natural gas (LNG) to provide cheaper and cleaner energy to households and businesses. Through partnerships with local and international companies, New Fortress Energy is leading the way to ignite this sector.
read articleInterview
Gordon Shirley, President & CEO, Port Authority of Jamaica (PAJ)
TBY talks to Gordon Shirley, President & CEO of the Port Authority of Jamaica (PAJ), on the country's developing role as a logistics hub, attracting more cruise ships, and his outlook for the economy at large.
read articleInterview
Fritz Pinnock, President, Caribbean Maritime University
TBY talks to Fritz Pinnock, President of Caribbean Maritime University, on capitalizing on the rising power of the global south, customizing goods before they reach the final consumer, and leveraging Jamaica's geostrategic location to create added value.
read articleInterview
Winston Adams, JP, Executive Chairman, University of the Commonwealth Caribbean (UCC)
TBY talks to Winston Adams, JP, Executive Chairman of the University of the Commonwealth Caribbean (UCC), on the university's illustrious history, its upcoming strategies, and Caribbean Knowledge City.
read articleInterview
Michael Williams, Acting Executive Director , Mona School of Business and Management
TBY talks to Michael Williams, Acting Executive Director of Mona School of Business and Management, on maintaining quality across its programs, its achievements in the Caribbean, and the school's research-based approach.
read articleFocus: Downtown Kingston Revitalization
Drinking from the Fountain of Youth
Although the subject of much talk, downtown Kingston has been relatively neglected for many years while surrounding areas of the city attracted more real estate developments. A series of public and private investments indicate that the trend is finally reversing.
read articleInterview
Timothée F. Delebarre, Country Manager, VINCI Construction Grands Projets (VCGP)
TBY talks to Timothée F. Delebarre, Country Manager of VINCI Construction Grands Projets (VCGP), on diversifying their business lines, expanding Kingston's Port, and developing innovative financing mechanisms.
read articleInterview
Dittie Guise, General Manager, Montego Bay Convention Centre (MBCC)
TBY talks to the late Dittie Guise, General Manager of Montego Bay Convention Centre (MBCC), on marketing the convention center, creating an integrated tourist experience, and preparing for more events and visitors.
read articleFocus: Linking Tourism
Lifting All Boats in the Rising Tide
Although significantly contributing to the economy, tourism in Jamaica suffers from an inadequate level of linkage with other sectors. The government, in partnership with private actors, is launching a number of initiatives to ensure that international tourists meet local businesses.
read articleInterview
Natalie St. Louis, Founder, CEO & Managing Director, Strategic Konnections & Management Services Limited
TBY talks to Natalie St. Louis, Founder, CEO & Managing Director of Strategic Konnections & Management Services Limited, on working with businesses to further their goals, the importance of engaging with consultants, and goals for the coming year.
read article
