LANDLOCKED Paraguay is sometimes called the “heart of South America”. If so, two great rivers are its arteries. Besides abundant hydropower, the Paraná and the Paraguay provide the lifeblood of the small, open economy—trade. In the absence of railways or good roads, it would seize up without the waterways. Improbably, Paraguay (population: 7m) boasts the world’s third-biggest fleet of tug-propelled barges, behind the United States (319m) and China (1.4bn).
On the outskirts of the capital, Asunción, a mountain of soyabean flour in a massive silo awaits loading. On the dock outside, a crane busily unpacks Japanese Isuzu lorries from a container vessel. In Puerto Fénix, business is up 75% in the past eight years, says Pablino Gómez, its operations manager.
Puerto Fénix is private, like most Paraguayan ports. In contrast to many countries, liberal Paraguay lets anyone purchase riparian property to set one up. Many have, so competition is fierce. Across the fence, Mr Gómez’s enterprise is flanked by two rivals. Margins have been squeezed, Mr Gómez admits, but larger...Continue reading
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