Jamaica approves tech park in Portmore
The Jamaican government has approved the development of a 34-acre (138,000m2) technology park in Portmore, across the harbor from capital Kingston, according to a statement published by state-run Jamaica Information Service.
The Naggo Head Technology Park will be built over two years and is expected to host state-of-the-art communications and technology for business process outsourcing (BPO).
The project will be a joint venture between China Harbour Engineering Company and the island nation's state-owned Factories Corporation of Jamaica (FCJ), part of the ministry of economic growth.
The project "should include a provision for the government to divest its equity through a public offering on the Jamaica Stock Exchange," the statement added.
Investment promotion agency Jamaica Trade and Invest and on its website that the park is part of the government's efforts to make the ICT sector a priority. "The park will be designated as a Special Economic Zone and will feature custom buildings, large-scale facilities for lease, and corporate design fit-outs, among other structures," it said.
"The development of Phases 1 & 2 at Naggo Head is scheduled to provide a total of 750,000 square feet of space for ICT projects," it added.
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News in: Political Risk & Macro (Jamaica)
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