摘要: |
The question was raised elsewhere in this issue as to whether government officials should serve on the boards of port authorities. It is not fundamentally a technical or legal question. The bigger question at the heart of this specific question is what are their vested interests in a port authority? The answer is that they have a fundamental interest. Why is it that while port authorities may concession out land for decades at a time, virtually always they retain possession of the underlying land? It is not because the land has value, and that value can be expected to appreciate. It is because when used as a working port, it creates an economic value that is of material significance when considering the entirety of the country. Every port of significant size in the world has a similar story as the Port of Rotterdam, where a 2018 study showed that 6.2% of total added value of the Netherlands was created by the port itself, or the Georgia Ports Authority in the United States, where a 2019 study showed the Ports of Savannah and Brunswick to be responsible for 11% of the state's total sales and 8% of its GDP. |