Vision is the art of seeing what is invisible to others. – Jonathan Swift Logistics Centred Economy Yes, I know its a bit of a circular definition and I can see my teachers all the way from high school to university shaking their heads in disappointment that I still have not learnt that one ought not to define aRead more
My random, well maybe not so random, thoughts on Special Economic Zones Why are SEZs so important to Jamaica?
Excited about SEZs: The nerd meets the lawyer Maybe its the nerd, sorry, I mean lawyer in me that gets so excited to talk about Special Economic Zone development models….its all about structuring the deal. On a personal note the development of Jamaica’s Special Economic Zone Regime has not only been an interesting one but professionally truly gratifying havingRead more
Law as a tool for development: my thoughts on Arbitration being used as a tool for economic development in Jamaica Arbitration, legislation with endless possibilities, so why not Jamaica?
Abraham Lincoln once said that: “great things may come to those who wait, but only the things left by those who hustle.” I had the good fortune of recently attending an arbitration conference in Jamaica (August 28). This was the first of its kind, and hopefully to become an annual event – International Chamber of Commerce: Boosting the use of ArbitrationRead more
Using Special Economic Zones to connect to the world The role of Special Economic Zones in enhancing Jamaica's trade
No man is an island, entire of itself… – John Donne Jamaica has set itself an ambitious goal and programme through its national development plan, Vision 2030, to “make Jamaica the place of choice to live, work, raise families and do business.” A critical element of Vision 2030 is transforming Jamaica into a global logistics hub which includes bringing togetherRead more
Momentum maintained on solidifying Singaporean assistance to Jamaica on special economic zone development
It is always gratifying to see one’s work in contributing to Jamaica’s national development take positive steps forward. Met Jamaican PM @andrewholnessjm, who is visiting Singapore for the first time today. We discussed possible cooperation in trade, infrastructure and urban planning. Jamaica is famous for its celebrities (sprinter Usain Bolt and musician Bob Marley), music, and beautiful beaches. But theRead more
Special economic zones (SEZ) are not a panacea for nation’s economic and developmental challenges. However, they are proven tools, if implemented correctly, to rapidly diversify a country’s industrial base, attract foreign direct investment (FDI), increase job creation and improve economic growth. Examples of such success range from Singapore, to China (the factory of the world), to Ethiopia( the fastest growingRead more
Blockchain technology can enhance the sustainability of nations like Jamaica’s agricultural sector, by capturing the information which can be beneficial to all who access the distributive ledger such as farmers, retailers and consumers. It will avail farmers greater access to information such as global competitive pricing so that they can be better informed as to what to charge for their produce and not charge too much or too little. This is important for a farmer to be profitable and to a nation that is into exports such as Jamaica, they will be aware of the prices so they are competitive and make the best prices for their commodities.Read more
The activities within the SEZs are aimed at fully integrating the Jamaican economy into the global production and distribution systems that rely on global value and supply chains. This complex and dynamic system, at the heart of globalization, places Jamaica at a critical intersection of global trade, investment and services. In a globalized environment companies face several conflicting demands simultaneously, for example there is an equal drive to both centralize and decentralize production and distribution. Additionally, companies must balance global and local demands at the same time in the sense of being able to produce and distribute worldwide but at the same time adjusting product specifications through postponement to meet the local taste of consumers through customization.Read more
Greater involvement of the private sector in the development of zones reduces the burden placed on public resources and increases the efficiency of zones by allowing them to operate under market mechanisms. International experience reveals that a significant number of governments developed and managed zones have been less effective than their private counterparts. In order to facilitate private development of zones, an appropriate legal, regulatory and institutional framework should be in place. The Government’s main role would be to regulate economic zone activities, promote the zone regime, and aggressively identify, assemble, and make available land suitable for development through PPPs or JVs or private development.Read more
Here are the top ten best reads to understanding Jamaica’s Special Economic Zone Regime and the mandate of the Jamaica Special Economic Zone Authority. Click on the button to expand the story.Read more