Jamaica Logistics Hub: a timeline on creating an enabling business environment
A enabling business environment is a strategic priority area for the Government of Jamaica and particularly the Ministry of Industry, Investment and Commerce, in the implementation of the Global Logistics Hub Initiative.
Creating an enabling business environment can be defined as the explicit attempts by the Government of Jamaica (GOJ) and its partners to reduce the regulatory and non-regulatory barriers, costs, risks and uncertainties in all forms of commercial activity to stimulate and support business growth, local business retention, and the attraction of new business (local and foreign).
Please click here to see some of the work that has been done and results achieved.
Much like the whole Global Logistics Hub Initiative creating an enabling business environment is a whole of government effort. However, the Minister of Industry, Investment and Commerce (MIIC), Anthony Hylton, has directed that the MIIC as the business Ministry, the chief coordinator of the Initiative and Chair of the National Competitiveness Council hold a keen interest and special responsibilities in this area. For example as the business Ministry it as made it easier for businesses to register and even granted an amnesty in 2015 for businesses to get their annual fillings in order.
Further, as the chief coordinator of the Initiative the MIIC, through the Free Zone Council, is currently managing the smooth transition from Free Zones to Special Economic Zones (SEZ) and has successfully lobbied the Ministry of Finance to remove the General Consumption Tax (GCT) on goods and services being supplied to the Free Zones from the local economy. This removed a major impediment for local business, especially small businesses to do business with Free Zone companies and thereby creating backward linkages and greater benefits to the local economy.
Finally, Chairing the National Competitiveness Council (NCC), keeps the MIIC and the Minister firmly focused on the implementation of the Global Logistics Hub Initiative and creating a Logistics Centered Economy. The NCC has the responsibility of monitoring and coordinating the implementation of Jamaica’s business reform agenda and functions as the focal point for the resolution of investment, trade and business bottlenecks.
Creating the enabling business environment,a business friendly environment, a logistics centered environment, whatever you want to call it, it is a critical success factor for Jamaica to expand its logistics hub capabilities. A business friendly environment because it facilitates trade and investment is a large part of the foundational work being carried out by the Government of Jamaica. While the business environment has improved since 2012, resulting in new or expanded private sector investments, there is still a lot of work to do going forward.
