Considering that our unemployment rate is 15.4 per cent, with some 60 per cent unemployment between the ages 14 and 34, it is becoming increasingly crucial for the Government, through pro-business policies, to address this lingering issue. Taking long-term strategic decisions seem to be anathema to most of our national policymakers. A panoptic study of our model of doing business is required. The conventional manner of achieving sustained economic growth — the key priority — proves to be elusive. To achieve economic growth, the Government will have to think and act counter-conventionally by diversifying the economy. Currently our hope of achieving economic growth — although not a panacea — lies in the logistics hub.
For Jamaica to elevate to the elitist group of logistics performers, there are some essential variables — determinants of competitiveness — which must be present. They are as follows: competitive costs, sustained quality of service, flexible and harmonious labour force, investment in human capital, consistent government support, private sector involvement, integrated transportation system, elimination of bureaucracy, and a single window system for Customs processing.
As the logistics hub evolves, the Government should facilitate the creation of an economic city within the area to further develop the economy, generate regional growth and create employment opportunities. The economic city will incorporate a cluster-based development consisting of transportation, logistics hub and supply chain centres, educational services, commerce services, agricultural and food processing services, infrastructure and houses. This concept possibly can spawn a diverse range of private sector investment opportunities. In the long run, Jamaica will be transformed into a First World economy, an outlier, attracting the most prestigious group of international investors on our shore.