Thursday, November 21, 2013
New Port Might Breathe Some Economic Life To Island Nation's Economy
Cuba - The town is best known as the launch port for a mass exodus to the United States in 1980. Today the city is being transformed into a huge, modern, $900 million port and special commercial zone. The island nation's Communist authorities expect Mariel to become a center for foreign investment. Plans to overhaul the Port of Mariel, Cuba began in 2009 when officials determined the country's main harbor in Havana is too shallow for bigger, deeper-draft vessels, those larger than 75,000 tons. Starting in 2015 these larger ships will begin crossing through an expanded Panama Canal. The ability of Mariel to take in deeper-draft ships will let Cuba keep pace with global shipping innovations and accommodate more cargo. Authorities hope to attract foreign firms to invest, and set up shop, in industries such as food, biotech, renewable energy, packaging, and telecommunications. See also, www.economist.com.
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