Prime Minister Andrew Holness has reaffirmed the federal government’s dedication to positioning Jamaica as a number one hub for logistics, manufacturing, and funding, spotlighting the redevelopment and growth of the historic Garmex Free Zone.
“Practically 5 a long time in the past, the Garmex Free Zone was established… and since then, it has been the cornerstone of commercial growth in Jamaica,” Holness stated through the official opening of the primary section of the Garmex Free Zone Redevelopment and Growth venture. “At its peak within the Nineteen Eighties and early 90s, it employed over 12,000 Jamaicans, turning into a catalyst for job creation.”
The growth venture, absolutely funded by the Factories Company of Jamaica Restricted (FCJ), provides roughly 126,000 sq. toes of recent industrial and industrial area. Section one, accomplished at an estimated price of J$1.1 billion (about US$8.8 million), options 31 models together with 22 mini warehouses for micro, small, and medium-sized enterprises, six mixed-use areas, and three bigger warehouses.
“This redevelopment is a transparent indicator of the federal government’s intent to ascertain Jamaica as a pacesetter in logistics and manufacturing, and as an funding vacation spot,” Holness added.
FCJ chairman Lyttleton Shirley famous that the Garmex Free Zone generates practically J$200 million in annual income and that section two infrastructure work has already begun, increasing the advanced by 5.7 acres to fulfill rising industrial demand. Plans for phases three and 4 embody developing extra warehouses, industrial buildings, and modernizing older buildings to allow vertical progress.
The FCJ additionally intends to implement environmentally sustainable practices equivalent to water harvesting and photo voltaic power as a part of the venture’s future phases.
Minister of Native Authorities and Group Improvement and Member of Parliament for Kingston Western, Desmond McKenzie, welcomed the growth’s financial and social advantages, highlighting the Free Zone’s long-standing significance to West Kingston residents. “This growth will certainly have an effect on the folks locally and adjoining areas,” he stated.
The Garmex Free Zone’s transformation underscores Jamaica’s ongoing efforts to spice up industrial capability and strengthen its function in world provide chains.
