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Transcript of INVESTMENT OPPORTUNITIES - ?? Skilled and semi-skilled labour ... Jamaica’s...

  • INVESTMENT OPPORTUNITIES

    Revised June 2013

  • 1

    INVESTMENT

    WHY JAMAICA?

    Ideal location and accessibility

    Gateway to multiple destinations

    EST time zone convenient for doing business in the USA,

    Latin America and the Caribbean

    Time zone difference is 0-3 hours for North America and

    5-6 hours for Europe

    One-hour flight from Miami & three-hour flight from New York

    Access to main shipping lanes for the Panama Canal

    Stable Government & Economy Independent judiciary

    Diversified and well developed capital market

    No foreign exchange controls

    Increased privatisation of public sector companies

    Liberal export incentives

    Liberal import policies

    Educated English-speaking Workforce & Modern Infrastructure

    Skilled and semi-skilled labour

    Intensive infrastructure

    Efficient telecomunications

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    CONTENTSWhy Jamaica? 1

    About Jamaica 3

    JAMPRO & Partners 6

    GOVERNMENT OF JAMAICA PROJECTSGlobal Logistics Hub Initiative 8Caymanas Economic Zone 9 Naggo Head Technology Park 10 Alternative Energy Supply Solution 11 Norman Manley International Airport and Aerodromes 12 Fort Clarence Beach 13Long Bay Beach 2 14Reach Falls 15Two Sisters Cave 16Festival Market Place 17 Commercial Assets of the Cocoa Industry Board 18Johnson Hill 19Mount Edgecombe Housing Development 20International Financial Services Centre 21

    PRIVATE PROJECTSOld Hope Property 23The Jamaica Palace Hotel 24 Llandovery Estates 25 Sea Splash Resort 26Turtle Crawl Property 27

    The Wexford Court Hotel 28Oyster Bay 29Rose Hall Seaside 30Green Castle Estate 31Round Hill Estates 32Seventh Harbour 33Morgans Harbour Hotel and Marina 34Golden Sun Resorts 35Jamaica Beachfront Land Development Opportunity 36Coconut Park 37Cotton Tree Bay 38Barrett Hall Lifestyle Village 39White Bay 40 Coral Springs 41Amaterra Jamaica 42Barnett Tech Park 43Jamrockking Marbles Calcium Carbonate Bagging Processing Plant 44Caribshare Biogas 45Cabbie Chronicles (Alcyone Animation) 46GSW Animation Limited 47

    Jamaica Elite Sport Centre (G.C. Foster College) 48INCENTIVES 50

    FACILITATING INVESTMENT IN JAMAICA 54

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    Jamaicais a relatively small island, 146 miles long and 51 miles wide, but with a global personality and influence that radiates well beyond its size. As the largest English-speaking Island in the Caribbean, its population of nearly 3 million represents a harmonious blend of races and cultures.

    Jamaica is a vibrant emerging market with enormous possibilities for trade and inward investment. Tourism, supported by over 3 million visitors annually, dominates the economy and is the largest employer. The Agriculture, Mining and Manufacturing industries are highly productive. Real estate and land development are big business, and the island has made phenomenal strides in information communications technologies, and is highly ranked as one of the leading outsourcing destinations in the Caribbean.

    The island is open to major investments in Agriculture, Manufacturing, Tourism, Information Communications Technologies (ICT), Financial Services, Film and the Creative Industries.

    Its comparative advantages that attract strategic investors and tourists include natural beauty, geographical location (only one hour and twenty minutes by air from Miami), time zone, English-speaking skilled labour force, strong financial services sector, the worlds seventh-largest natural harbour and mineral resource endowments, as well as a spirit of enterprise and well-established traditions of democracy and accountability.

    These endowments have aided Jamaicas rise as the hub for trade within the Caribbean Community and Common Market (CARICOM) and into a popular centre for some of the worlds major transnational corporations (TNCs).

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    JAMAICAS INFRASTRUCTURE FOR FOREIGN DIRECT INVESTMENTS

    SEA PORTSJamaica is advanced in modernising its port, airport, road, telecommunications, water supply and sewerage infrastructure. Investment in infrastructure is an important priority in national de-velopment, given its impact on competitiveness in the economy. The island has been a high performer in attracting foreign direct investment over recent years, particularly in the area of tourism, and this performance has been attributed to improvements in its infrastructure.

    Jamaica has nine active ports. The Port of Kingston is the largest, which at 21 square kilometres of navigable water, is the seventh largest natural harbour in the world. Located along the north/south, east/west axis of the Caribbean, the port is just 32 miles from the trade routes that pass through the Panama Canal.

    The Port of Kingston is divided into two terminals: (i) Kingston Container Terminal (KCT), which is owned by the Government and operated by The Port Authority of Jamaica and (ii) Kingston Wharves, which is owned and operated by Kingston Wharves Limited, a public company. Kings-ton Container Terminal has a capacity of 2.8 million Twenty Foot Equivalent Unit (TEUs). Trans-shipment accounts for 85 per cent of throughput at the facility. There are mainline services to North and South America, Europe, the Far East and Australia. KCT is a key player in the develop-ment of Jamaicas logistics hub. Facilities include three terminals: North (21.63 hectares), South (43.87 hectares) and West (13.53 hectares); 2,310 metres of berth with depth of up to 14 metres; 19 cranes; 73 straddle carriers; 10 terminal tractors; 16 multi-trailer trains; 14 empty container handlers; 28 terminal tractors; 744 reefer plugs; and 27 chassis. The Terminal is controlled by a state-of-the-art computerized management system.

    Kingston Wharves has a capacity of approximately 200,000 TEUs. The facility includes: 1,644 me-tres of continuous berth with up to 13.0 metres depth; terminal area of 25 hectares including 30,000 square metres of covered warehousing and cold storage; 53,000 square metres off-port storage for vehicles; and state-of-the-art equipment including 3 mobile harbour cranes.

    With stellar infrastructure, competitive rates and a central location, the transshipment opportu-nities in Jamaica are limitless. Our easy accessibility to the main shipping lanes that run through the Panama Canal makes the Port of Kingston even more attractive to international shipping companies. Over 30 shipping lines have operations in Jamaica, covering all the major routes to the North and South American continents, Europe and the Far East.

    The Port of Kingston:The natural harbour in Kingston is the 7th largest in the world

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    AIR TRAVEL Jamaica has three international airports the Norman Manley Interna-tional Airport (NMIA) in Kingston, Sangster International Airport (SIA) in Montego Bay and Ian Fleming International Airport (IFIA) in Bosco-bel, St. Mary, which currently accommodates private and small com-mercial aircrafts. Additionally, Jamaica has three aerodromes Tinson Pen (Kingston), Ken Jones (Portland) and Negril (Westmoreland).

    The Norman Manley International Airport sits south of the Kingston Harbour on 228 hectares (563 acres) of land. It has a runway of 816 square metres (8,785 square feet) and is capable of accommodating aircrafts up to the size of the Boeing 747.

    The Sangster International Airport runs along the northern strip of the country, 3.2 km from downtown Montego Bay. Its on approximately

    235 hectares (580 acres) of land, with a runway of 809 square metres (8,700 square feet) and an associated parallel taxiway running the full length of the runway.

    The redevelopment of the Sangster International Airport in-cluded the construction of a new concourse and the upgrading of the existing one, which has expanded the capacity of the air-port to handle 9.5 million passengers per annum three times its previous size. It was completed in August 2008. The airport handles the bulk of the traffic generated by the tourism indus-try and now possesses the most modern passenger facilities for shopping, immigration, customs and transport services in the Caribbean region.

    HIGHWAY 2000Highway 2000 is the centerpiece of a multi-year Millennium Projects Programme initiated by the Government of Jamaica. The main objective of these projects is to upgrade the countrys infrastructure and assist in providing economic opportunities for growth and the creation of jobs.

    The highway is a four to six lane controlled-access, tolled motor-way with fully grade separated interchanges and intersections built according to modern international standards.

    Sangster International Airport, Montego Bay

    A section of the Highway 2000

    JAMAICAS INFRASTRUCTURE FOR FOREIGN DIRECT INVESTMENTS

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    Jamaica Promotions Corporation, (JAMPRO)

    JAMPRO is the Government of Jamaicas investment and export promotion agency, which connects investors and entrepreneurs from around the globe to the trade and investment op-portunities available in the leading sectors of the Jamaican economy.

    Operating under the direction of the Ministry of Industry, Investment and Commerce, JAM-PRO guides investors from the decision making stage, through the approvals process, to when their investments become operational. The agen-cy focuses on the targeted sectors of tourism, manufacturing, agri-business, information and communication technology, mining, ener