Economy

Fitch rates Panama Canal with an “A”

The Fitch rating agency confirmed an “A” rating for the Panama Canal Authority (ACP) reflecting a solid revenue profile and low leverage.

Fitch Ratings notes that the Panama Canal provides a unique connectivity and time savings for world maritime trade.

The rating agency believes that the rating outlook is stable, given the strength of the Panama Canal in the economic recession and its strong competitive position, supported by income resulting from the opening of the […]

Program launched to certify export traders

Piña es exportada a Europa.

A program to certify the private sector dedicated to foreign trade and subject to Customs regulations, can benefit from a program launched by the Panamanian government through the National Customs Authority (ANA).

It is the tool known as “Authorized Economic Operator” (OEA) which, according to Jose Gomez, director of the ANA, is aimed at companies that implement preventive safety to protect their logistics chain.

According to Gomez, who explained the benefits of the OAS during […]

Canal will generate less income

Canal de Panamá.

The financial contribution of the Panama Canal to the State for the period 2017-2021 will be 45.3 percent lower than the initial estimate on the enlargement, according to official figures analyzed by the Panamanian press.

The latest projections of the Ministry of Economy and Finance (MEF) for the years indicated were $15,303 million, but in a last adjustment that figure dropped to $8,533 million, said the newspaper La Estrella de Panama.

The reasons cited by […]

PANAMA IS NOT PAPERS

“Panamá no es papeles”

Lic. OLIVER G. Laprea Specialist in International Trade and the Maritime Sector info@servipanamax.com

Currently “PANAMA PAPERS” is a controversial issue, which ultimately is affecting the credibility and reputation of the business system of a country, including its people.

Actually trade lives on Trust and Good Faith, the proof of which is the existence of such figures as the insurance contract, bank accounts, trusts, among others. A range of commercial transactions are regulated through a set of […]

Expocomer the commercial fair

Expocomer, the fair organized by the Panama Chamber of Commerce (CCIAP), will take place from Tuesday 9 to Saturday, March 12 at the Atlapa Convention Center. The inauguration will be on Tuesday at 11 a.m.

This annual fair promotes commercial meetings between companies around the world and local businesses, creating exchanges between the industrial and commercial sectors in America, Asia, Europe and the Caribbean.

This year the fair will occupy the entire 17,000 square meters […]

Private sector aiming at technical careers

Sector privado apunta a carreras técnicas

The newly-elected president of CoSPAE, Captain Orlando Allard, considers it necessary to encourage young people to take up “practical” careers.

Logistics and technical careers are the professions of tomorrow, considers Captain Allard, the new president of CoSPAE (Private Sector Council for Educational Assistance) for the period 2016.

The representative of the Panama Chamber of Shipping within the Council urges youth to be prepared for such activities, especially when in the coming months, operation of the […]

Slight improvement for economy and trade in 2016

La proyectada Línea 2 del Metro.

By Franklin Castrellón

The global economy in 2016 and 2017 will record growth of between 3.2% and 3.8%, a slight recovery from the 3.3% recorded in 2015, according to the major multilateral agencies. Goldman Sachs, a leading investment bank, locates its global forecast at 3.5%, giving it a 2.0% for developed countries and a remarkable 4.9% for emerging economies.

The International Monetary Fund (IMF) expects the world economy to start a cycle of recovery in […]