Government launches free-port initiativeGovernment introduces initiative aimed at increasing trade throughout region.11th February, 4376In a recent move by the Ministry of Trade and Industry and the Ministry of Finance, the commercial ports of Shippington and Louth, under advisement from the local Chamber of Commerce of those city as well as the Public-Private Cooperative Business Association (an association of private and public companies, centred on promoting joint private-public business opportunities), have been designated as "free-ports" in an attempt by the Ministry of Trade and Industry to bolster the economy in the country. The laws were proposed by Minister of Trade and Industry Arther Butler and seeks to introduce less strict customs regulations and lowered taxes on income for investors. The Minister addressed the Imperial Diet earlier today where he said,
Luthori has a high potential of being the capital for trade and business on the Artanian Continent. In this legislation i propose to the commercial ports of Shippington and Louth, the status of free-ports with an ease in our customs regime on these ports. I can assure the members of this assembly that, we do intend on expanding the capacity of these ports to accommodate for increased operations.
The idea to make Shippington and Louth's commercial ports, free ports came after the Division of Trade Promotion spoke of plans to introduce a renewed customs regime within the cities as a means of increasing funds to assist the venture of the Luthorian Developmental Bank. News figures released from an independent research and analysis group known as, the Centre for Economics and Business, showed that during the first 5 months of 4369, the mentioned ports handled 60 million tonnes of cargo about a quarter of the total turnover. The report stated that the most productive port was the Port of Shippington, which handled 40.1 million tonnes of cargo compared to Louth which handled 19.9 million tones of cargo within the same period. Nonetheless it signals a move that these cities and their ports are a pillar to forging closer trade ties between various regional and international partners.
Government commences seaport expansion programmeGovernment commences initiative to expand seaport in Shippington to accommodate for increased trade11th February, 4376The Maurice Maritime Corporation (MMC) through a joint venture with the Port Authority of the Port of Shippington, has been appointed as the lead contractor in the expansion of the international port. The expansion project will increase the lengths of berths 3, 4 and 5, giving the port ,in general, the capacity to handle/berth massive container vessels. Dredging of the area was commenced several months prior and was done in preparation from construction to begin around the vacation period. The project will involve dredging 1 million cubic metres of material to provide the berth and approaches, and enable a new steel-piled quay wall to be built. General Manager of the Port Authority, Darrell Miller, commented on the expansion project.
The Port of Shippington caters from international trade. It is the largest seaport in the country and is the centre of maritime operations throughout the country as thousands of minor and major maritime corporations have established bases of operations in the port's facilities. For this port to operate at the highest level of efficiency,
it must now cater for largest international vessels. As such, with our cooperation with Maurice Maritime Corporation and the port authority's own construction group, the expansion of the port could see an increase in facilities and general space for future operations.
According to officials from Maurice Maritime Corporation (MMC), they intend on reclaiming land from the sea to accommodate for the construction of three wharves, two dry docks and increased housing space for business operations within the port itself. The new extension will be equipped with three new ship-to-shore gantry cranes, each with a 25-container wide outreach. According to officials from the Division of Trade Promotion (a department of the Ministry of Trade and Industry), the expansion of the Port of Shippington is expected to accommodate for the increased diplomatic activity in which the Foreign Ministry is going to initiate by reintroducing Luthori to trade with the its various international partners.
Ⱡ100bn infrastructural programme commencesBillion pound infrastructure programme announced by government to boost productivity
Construction of the R3 roadway from Fort William to Shippington.11th February, 4376A report recently released by the Luthorian Developmental Bank has put the nation's domestic infrastructure on the spotlight. After years of neglect, Luthori's infrastructure has received a battering. This is evident as several motorways and bridges have been closed due to safety concerns. According to the report entitled "Public Investment and Infrastructure in Luthori", it was proposed that the government invested heavily into Education, transport and digital networks infrastructure, and residential buildings construction. Farris Khan says that their economic models show that the proposed investments would "strengthen the growth potential of the Luthorian economy, and in the long term, result in a significant increase in aggregate economic production.
While there are regional variations — schools are administered by the provinces, and their regional administrative bodies and not by the central government — a typical school-day in Luthori starts at 8 AM and ends at 2 pm. This can present logistical problems for the many families in which both parents work at full-time, nine-to-five jobs. The report proposed a Ⱡ10 billion per annum to improve the education system and extend hours into the afternoon. According to the LDP, the move would improve childrens' educational outcomes, enhance the cultural integration of the very large number of foreign-born schoolkids, and free up both parents in lower- and middle-income families to take full-time jobs.
The report proposed a Ⱡ20 Billion increase per annum on public spending transportation infrastructure and the construction of a modern digital infrastructure. In view of the rapid evolution of digital technologies, broadband fibre-optics networks should be expanded even beyond the Luthorian government's existing, fairly ambitious plans in this respect, which date from 4350, according to the Developmental Bank. They estimate that an additional Ⱡ60 billion to Ⱡ100 billion will have to be spent in total over coming years, in excess of what had already been planned, in order to complete a nationwide fibre optic network capable of future data transmission speeds of several gigabits per second.
In response to the nation's crumbling infrastructure, the government through a Ⱡ70 Billion investment into infrastructure, has commenced work on construction and modernisation of various infrastructural systems including motorways, bridges, ports and buildings with the intention of accommodate for a hopeful population boom and increased economic activity. The initiative aims to modernise the nation's transportation system by bringing a "rapid rail" system into Fort William and other cities throughout the nation. The government aims at championing the principle of efficiency, citing that Luthori must maintain its international standard for efficiency. The Luthorian Developmental Bank cited that the umbrella purpose of the initiative was to create jobs. It has been stated that the proposed investments would generate about 160,000 additional new full-time-equivalent jobs by 4390, and more than 350,000 new jobs by 4410, compared to business-as-usual, as the investment is intended to increase annually by Ⱡ5 Billion.
