Sunday, 10 February 2013
Infrastructure Investments Promote Growth and Prosperity
An infrastructure project can be deemed worthwhile, only if the expected benefits are larger than the expected costs. Terrors such as unemployment can be improved due to new infrastructure, making these types of investments, extremely valuable to an economy. Disappointingly, there are not many countries that have taken full advantage of the latest technological advances, which could certainly encourage their prosperity and competitiveness, in the future global economy. With that being said, shipping projects and investments that would be highly beneficial to their economic success, are not hard to find.
All around the world, shipping companies are trying to take advantage of industry advances, in an ongoing effort to increase their own efficiency; as well as that of the industry. It is being brought to the attention of the investment community, that countries and different economies are upgrading and modernizing their infrastructure, to accommodate the changes that will follow the opening of the Panama Canal expansion. These advancements in the shipping industry can be exploited, if international ports and investors have the ability to contribute. Whether it be deepening ports, widening waterways, upgrading bridges, new port infrastructure or shipping container investments, making these commitments are crucial; if countries expect to increase their share of global trade markets.
Undoubtedly, the benefits from these investments to accommodate the needs of the shipping industry, completely outweigh the costs. The shipping industry moves 90 percent of cargo, around the world. If ports meet the demands of the industry, the surrounding regions can benefit greatly from the opportunities presented by the shipping industry. Proper and timely infrastructure investments, will encourage prosperity and offer many benefits for the growing economies, provided that new employment and investment opportunities in shipping and logistics are pursued; in a manner that facilitates steady economic growth.
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