Feasibility Study for CSEZ to be Completed in July
A comprehensive feasibility study for the Caymanas Special Economic Zone (CSEZ) is expected to be completed in July.
This was announced by Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Hon. Daryl Vaz, during his Sectoral Debate presentation in the House of Representatives on May 15.
“The study considers the best uses and development phasing of the 1,200 acres of the CSEZ site in a manner that is financially feasible for a private developer, public-private partnership (PPP) or other arrangement,” Mr. Vaz said.
This flagship zone will operate under the rubric of Jamaica’s SEZ and PPP policies.
Mr. Vaz advised that the Logistics Hub Initiative is far advanced, with Cabinet approving a number of initiatives on May 7.
They include the tabling of the Jamaica Logistics Hub Initiative (JLHI): Market Analysis and Master Plan, in Parliament for adoption, and the implementation strategy for the JLHI: Market Analysis and Master Plan; and the request for funding from the Foundations of Competitiveness and Growth Project (FCGP) for a consultancy firm/consortia to act as the Transformation Management Office (TMO) to provide guidance and expertise to the implementation teams.
It also includes the Jamaica Special Economic Zone Authority (JSEZA) as the implementing agency for the JLHI: Market Analysis and Master Plan.
“The Master Plan specifically details the actions Jamaica will need to take on several fronts simultaneously, in order to realise the JLHI vision, namely, a seven-part strategy consisting of those critical elements referred to as strategic enablers that significantly affect Jamaica’s ability to achieve the build-out of SEZ,” Mr. Vaz said.
His presentation was done under the theme ‘Creating Jobs—Empowering Jamaicans’.