Economy

Ninth World Economic Forum on Latin America in Panama

Noveno Foro Económico Mundial para Latinoamérica en Panamá

The World Economic Forum on Latin America was held in Panama City from April 1 to 3, 2014.

More than 600 participants from the region and the world participated in the event.

The theme of the meeting was “Opening Pathways for Shared Progress”

The Forum brought together more than 600 leaders from government, industry, civil society and academia from over 50 countries to discuss the challenges and opportunities facing the region.

With the support of [...]

600 exhibitors at Expocomer

Expocomer, the most important trade fair of Panama and the region, returns to the Atlapa Convention Center from Wednesday, March 26 through Saturday, March 29. It is expected that more than 600 manufacturers from over 35 countries will take part.

The fair is the ideal place for companies to showcase their products and services to local and regional markets, introduce new products to market, evaluate competitors and use the Colon Free Zone as a bridge [...]

Colón Free Zone attentive to the Venezuelan crisis

The current conflict facing Venezuela worries the Colon Free Zone (CFZ), as this may delay the collection of debts that are still pending.

Walter Brunetti, a financial analyst, said: “The recent events in the country and the complicit silence of many trading partners, creates the fear, not only of fracturing existing businesses and those in the future, but also conveys the feeling of fear for natural uncollectibles that are already pending.

Margarita warns of crisis from break with Panama

Los almacenes tienen problemas en para comprar mercancía

Not only are Colon Free Zone businessmen hurting from unpaid debts and loss of market in Venezuela, but Isla Margarita traders made an “emergency declaration” over the prolonged lack of foreign exchange for the free port and the devastating effect that breaking Venezuela’s diplomatic and commercial relations with Panama will have on the economy.

Teodoro Bellorín, president of the Isla Margarita Chamber of Commerce, warned that “the suspension of political and trade relations with the [...]

Costa Rica makes most investments in Central America

Hasta el 2013 unas 105 empresas costarricenses establecieron operaciones en el exterior por un valor de $1,518 millones. Panamá y Nicaragua son los mayores receptores de esa cifra en la región

According to the “Analysis of Costa Rican Foreign Investment,” Central America is the largest recipient of investment from Costa Rican companies with a share of 64.2%, which exceeds the 28.6% that went to North America.

Of the total investment in 2013 by Costa Rican companies, $1,519 million went to a total of 21 countries with 64.2% in Central America and 28.6% to the United States, while the rest went to other markets, such as Ecuador [...]

Moodys does not expect Panama rating to be affected by Canal conflict

Moodys no prevé que calificación de Panamá se afecte por el conflicto en la ampliación

Risk agency Moodys does not expect Panama’s rating to be affected by the conflict over the Canal expansion if the work is completed in the next two years.

But if the delay is for three years or five years, it could cause a medium-term impact on the economy.

The possible delay in the expansion project of the Panama Canal does not affect the risk rating given by Moodys if the date for delivery of the [...]

Colombia and Venezuela should honor the debt with the Free Zone, CONEP

Many businesses are suffering because they cannot collect the money owed by Colombia and Venezuela

Representatives of the National Council of Private Enterprise (CONEP) met with the Minister of the Presidency, Roberto Henriquez, to continue the dialogue initiated in November aimed at analyzing and solving international economic commitments with the Colon Free Zone.

CONEP businessmen discussed debts of Venezuela and Colombia with the free zone and the expectations that have been generated that the two South American nations honor their commitments.

Similarly, delegates from local banks and other sectors involved, [...]