Additionally, to launch the development of the Caymanas Special Economic Zone, which will contribute to positioning Jamaica as a logistics hub in the Caribbean.
According to the CAF, the objective of the project is to transform Jamaica into a leading regional logistics center by modernizing trade and logistics infrastructure, streamlining logistics processes and improving connectivity.
These measures will help the country attract multinational corporations, increase its competitiveness and strengthen regional integration, he added.
He added that the program is also expected to impact the Caribbean economy as a whole.
The initiative seeks to capitalize on global changes in supply chain networks, as well as specialized services and industrial production, and take advantage of Jamaica’s strategic location in the Asia-America maritime corridors to improve connectivity and access to markets. global, noted the CAF.
He stressed that a central element of the project is the attraction of foreign direct investment in value-added activities (nearshoring).
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