“Commercial Awareness Is Global.”
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 together
The magic of augmented reality (AR), virtual reality (VR) and other digital platforms is changing the way we do business, the way we work and the very nature of work itself. In this digital age these technologies present exciting opportunities to tackle global youth unemployment. A brief discussion of these technologies is how Part I of my interview with a friend
Youth unemployment is on the rise globally. So what are the solutions? Before we get into the answer to that question let us take a quick glace at the problem. According to the International Labour Organization (ILO), an organ of the United Nations (UN), “estimates that the global youth unemployment rate is expected to reach 13.1 per cent in 2016
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 the
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 growing
I recently had the privilege of taking part in a global value chain workshop put on by Duke University’s Center on Globalization, Governance & Competitiveness (Duke CGGC) in Jamaica and here are my top five takeaways: Human capital development (tooling, re-tooling and right tooling) is a critical component to global value chain upgrading. Global value chains (GVC) are embedded in
In the logistics sector small is sometimes not just beautiful but very profitable. Related Posts:Logistics critical to the fabric of Jamaican society and economyThe Top 20 Business Trends to look for in Jamaica in 2020Carriage of Goods by Sea Law: moving from the sales contract to the transport contractTrade Agreements and Marketing Strategies6 Key lessons from modern logistics
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.
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.
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.