Port La Union Still Waiting

When construction began in 2008, eastern El Salvador was filled with hope and investment projects, which are now frustrated by a port that does not work.

Tuesday, March 20, 2012

The port terminal, built at a cost of $200 million and opened in 2010, to date has little maritime activity.

Business groups have spent a lot of money in the business of transporting containers and goods, hotels to accommodate the waves of foreign tourists expected, and there were those who spent large sums on land, warehouses and other buildings. Instead of increasing fortunes, what local investors have experienced is frustration and disappointment. Along with sums contributed by the private sector, are the substantial funds spent by the State which do not helped much either.

The port has a very low level of activity, with shipping vessels arriving from time to time, but nothing like the level of occupancy than was expected when it was completed, reports Elsalvador.com.

Santiago Melendez, president of Grupo Empresarial de Usulután, said that "one of the major problems that has to be addressed in order to get the port working is lack of safety in the country." He says this because in his view, foreign investors are afraid because the country is violent. This keeps investment away. "Logically, if there isn’t any security, there is no investment and if there is no investment the port simply does not work."

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New Port Law in Nicaragua

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