New industrial park to employ thousands
Haiti had a rare piece of good news yesterday when former US President Bill Clinton and new President Michel Martelly launched the building of a new $224 million industrial park in the north of the country.
The Caracol Industrial Park will be home to a new enterprise by South Korean garment manufacturer, Sae-A Trading Co Ltd, who provide clothes for US retailers such as Wal-Mart and Gap Inc.
The new factory will provide up to 20,000 jobs directly and an estimated further 133,000 jobs in cottage industries.
The 617 acre site is expected to attract in other investors in the garments and furnishing and will bring new roads, electricity generation and housing for up to 5,000 workers. There will also be a new school for 500 local children.
The US government is giving $124 million, the Inter-American Development Bank is giving $55 million and Sae-A will fund $78 million in the project.