ppp crime family calls this a road
every year ppp crime family spends over 500 million on this. CHECK IT OUT!!
Demerara Waves: “Bear in mind we have been deliberating this matter since 2008, when we realized any commitment to an all weather road would not be forthcoming anytime soon. We consider many sections of the road and bridges to be unsafe, and worsening by the day and the toll it was taking on the buses was making it impossible for us to maintain them in a manner we were comfortable with. There was only one decision to make.”
meanwhile on the other side of the border. check the date
China Deal Marks Massive Growth Potential
BMI View: We believe that Suriname has the potential to become a regional trade hub and one of the fastest growing economies in Latin America if it can finalize plans for US$6.0bn of infrastructure investment with Cheng Don International and China Harbour. For the time being, however, we will wait on the sidelines until a binding contract is signed before we revise our economic forecasts to the upside.
We are turning increasingly positive towards Suriname’s economic outlook, and believe the recent memorandum of understanding agreements (MOUs) signed with two Chinese companies could eventually boost real GDP growth into the double digits. Surinamese Minister of Public Works Ramon Abrahams signed three MOUs with Cheng Don International and China Harbour worth approximately US$6.0bn in order to develop the country’s infrastructure. The five construction projects outlined in President Desi Bouterse’s annual address include:
- A road and railway linking capital Paramaribo to Brazil.
- A deepwater port.
- A sea dam from Albina to Nickerie.
- A motorway to Zanderij.
- Development of 8,000 public housing units.
Even though the Chinese investment is likely to be spread out over a number of years, with a nominal GDP of just US$3.6bn (estimated for 2010) the scope for an upside revision to our real GDP forecasts is massive. We are currently projecting real GDP growth to come in at 3.5% in 2011, and 4.0% in both 2012 and 2013, and if a binding bilateral agreement is eventually made between Suriname and the Chinese, we would be encouraged to make considerable improvement to our medium- and long-term economic forecasts.
We believe the most significant feature of the investment agreements are the plans to make Suriname a major transport hub linking northern Brazil (and the Amazon) to the Caribbean. The deepwater port combined with road and rail links to the Brazilian border should make Suriname a focal point of trade in the region, particularly given that neighbour Guyana has so far proved unsuccessful in its plans to develop its own deepwater port. It could also open up vast swathes of unexploited land for further domestic oil, bauxite and gold extraction, three of Suriname’s major exports and key sources of fiscal revenue. In addition, an overall increase in domestic employment would feed through to greater levels of private consumption.
While we currently rank Suriname 132nd of 167 economies worldwide in our proprietary business environment ratings, a major improvement to its domestic infrastructure (which scores 26.5 out of 100) should make the country a much more attractive investment destination over the coming years.
Indeed, besides the direct uptick in foreign direct investment (FDI) resulting from these Chinese projects, we would expect an additional wave of FDI to follow these capital inflows into other areas of the economy. That said, we note that such progress would take place over a number of years and the government will have to make policy reforms in other areas of the country’s business environment, such as institutional capacity and legal frameworks, in order to make it a genuinely attractive location for sustained international investment.
Source: http://www.latinamericamonitor.com/file/94992/china-deal-marks-massive-growth-potential.html
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