Construction of the second biggest retail complex for Chinese products outside China will begin in Mexico next month despite environmental and business concerns, a project leader said Wednesday. The Dragon Mart will be built in a natural reserve near the beach resort of Cancun in eastern Mexico, with more than 3,000 retail spaces plus offices and 722 residences for employees within a 557 hectare (1,376 acre) area. Pushed by Chinese businessman Hao Feng, it will be the second Dragon Mart ever built, after a similar, bigger complex opened in Dubai in 2004. "Why Dragon Mart in (Latin) America? China is one of the countries with the largest, sustained growth in the past 10 years and Mexico and Latin America must consider east-west trade in addition to north-south trade," Juan Carlos Lopez, director general of the project, told a news conference. Some 4,500 Chinese companies are interested in selling their products at the future complex, which could draw one million visitors and $700 million a year, Lopez said. But environmental groups are concerned that the project will cover 418 hectares of a natural reserve. "It contravenes the municipality's environmental protection program," Alejandro Serrano, director of the Mexican Environmental Rights Center, told AFP. The law allows for 25 percent of vegetation to be torn from the area, but the project secured a permit to cut down 35 percent, Serrano said, denouncing a lack of transparency in the permit application process. The company counters that the project is sustainable and was given the green light by the state of Quintana Roo, which is needed to obtain a building permit from the municipality. Mexican businesses are also worried, with the Confederation of Industrial Chambers saying that various national economic sectors have been hit by the competition from underpriced and subsidized Chinese goods.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor