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 […]


“Panamá no es papeles”

Lic. OLIVER G. Laprea Specialist in International Trade and the Maritime Sector

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 […]

Nicaraguan companies seeking more presence

Empresas nicaragüenses buscan mayor presencia en el mercado panameño

Nicaraguan export companies visited Panama at the beginning of December aiming to increase their presence in the Panamanian market. The 14 businesses in the delegation showed their products that included processed food, handicrafts and agricultural produce, among others.

In 2014, Nicaraguan exports to the Panamanian market amounted to $39.4 million, according to a report of the Nicaraguan Ministry of Promotion, Industry and Commerce (MIFIC).

Panama occupied the fifth place as interregional partner of all the […]

Education and skilled labor needed in Panama

Falta de mano de obra calificada preocupa a sectores

According to a study of global competitiveness, Panama remains the second most competitive economy in Latin America and has become the most competitive economy in Central America.

However, it continues to face the problem of education and skilled labor.

Some sectors require specialized professionals, who are scarce, so they feel the need to hire foreign labor, said Alberto Alesi, regional director for Manpower.

“We continue to look to foreign recruitment, as the great works continue […]