(Jamaica Observer) KINGSTON, Jamaica — On Monday, the Government will sign the Memorandum of Understanding (MoU) with Krauck Systems and Anchor Financial Group LLC, for the development of projects in Jamaica related to the Global Logistics Hub.
Minister of Industry, In-vestment and Commerce, Anthony Hylton made the announcement at a post Sectoral debate press briefing yesterday, at Jamaica House.
Hylton first disclosed Cabinet’s approval of the signing of the MoU at the Jamaica Investment Forum in Montego Bay in March.
He said, at the time, that the investors had expressed “solid interest” in investing US$5 billion in a series of logistics-related infrastructure projects, which will transform the “business landscape for logistics in Jamaica”.
Speaking at yesterday’s press briefing, Hylton said the signing of the MoU is the first step in the investment process.
“(They) are proposing to engage under the MoU with the Jamaican Government to discuss an integrated approach to the logistics hub. What it will do is to provide the framework in which the Government of Jamaica and its team can meet with the team from the investors…to begin to discuss the terms and conditions (regarding) the various assets that they are interested in Hylton said.
