Jamaica hailed as a ‘perfect’ nearshore market
Jamaica is a “perfect” nearshore market due to its proximity to the United States (US) and its large natural harbors, said Minister of State in the Ministry of Industry, Investment and Commerce Dr. Norman Dunn.
During his address at the ‘Manchester Giants’ exhibition, Dunn stated that a lot of investors are looking into the nearshore markets because of the logistical issues brought on by the COVID-19 pandemic.
“Everybody is now looking at everywhere that is close to them because people need to survive and thrive, so they are looking at these nearshore markets,” he stated.
The Minister emphasized that the country is only an hour and twenty minutes away from the US.
“We have one of the largest natural harbors in the world. We are in a shipping lane that most mega ships going on to different places pass — so Jamaica sits at a pivotal point where we can benefit from so many things,” opined Dunn.
Additionally, the junior minister pointed out that the country needs to look into new industries for economic growth, following the downfall of traditional sectors such as bauxite.
He also encouraged Jamaicans to grow with the changing times.
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