Prime Minister Andrew Holness says the major investment of US$60 million into the redevelopment of Kingston Wharves Limited (KWL) is a significant boost for the productive sector and the economy.
The investments will cover three major infrastructural development projects; the redevelopment of Berth 7, Ashenheim Road Warehouse Complex and Kingston Wharves’ Crane #8 as well as technology and human resources.
Speaking at the official signing ceremony for the redevelopment of Berth 7 at Kingston Wharves yesterday (January 12), Holness said the KWL has done well in reinventing and reestablishing itself as one of the most competitive and successful mixed-used ports that has created significant employment opportunities.
Also, Holness underscored that these investments are a signal that the Jamaican economy is getting back on track.
Said the prime minister: “There is a sense that we are getting our debt under control; our fiscal house in order. There is certainty. There is confidence in the economic environment of the country, so more investors can now take a greater interest in us.”
In the meantime, Holness noted that the growth in the economy is relatively low, however there has been significant job creation due to investor interest.
“At the phase of recovery and development that we are, objective number one is to get our people employed, to get in the industry and to get the investments in and then to build on that.”
Further, the prime minister said: “I am confident that the lead government agencies, PAJ, JSEZA, JCA, NWA will continue to work collaboratively with Kingston Wharves to show what Jamaica can achieve when public and private sector works together to pursue a shared vision. This is a most fitting way to celebrate our 60th year of independence by creating a highly competitive sector thus contributing to economic growth and job creation for the future that our nation deserves.”