Economy

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 [...]

APEDE calls for free zone equality

The Panamanian Association of Business Executives (APEDE) Issued the following statement in solidarity with Colon Free Zone businessmen recommending that all free zones in Panama operate on a level playing field.

However, President Juan Carlos Varela continues to claim that this would not solve the problem of the Colon Free Zone, which has lost its competitiveness.

“The Panamanian Association of Business Executives (APEDE) joins the concern of several sectors of the country due to the [...]

Panama could export $120 million to Mexico

The Ambassador of Mexico in Panama, Jose Ignacio Piñas, has pointed out that currently goods exported from Panama to Mexico value around $20 million, but there is a potential for up to $120 million.

Ambassador Piñas recalled that in previous years, specifically in 2011, the figure for exports to Mexico from Panama dropped, but he did not know why that fall occurred.

The diplomat said that the launch of the Free Trade Agreement between the [...]

Dubai mission shows interest in Panama’s investment incentives

De izquierda a derecha, Iván Jimenez, Analista Económico y Enrique Ruíz, Promotor de Inversión de PROINVEX PANAMA junto con Ayaz Hiridjee, Business Development Manager de TRIMETA, y Jordan Knight Associate Consultant de IBM Global Business Services

The Ministry of Commerce and Industry, through the Agency for Investment Promotion and Export Panama (PROINVEX) held a business meeting with executives from Dubai, United Arab Emirates, interested in exploring investment opportunities in Panama.

Investors representatives were from TRIMETA and IBM Global Business Services, companies established in Dubai, who visited the MICI for a briefing led by promoters of PROINVEX in which they spoke about the different investment opportunities presented by the country, presenting [...]

Glass exported to Mexico under TLC

The company Optima Ballistic Glass Corp, made its first export to Mexico being one of the first Panamanian firms to take advantage of trade liberalization between Panama and the Aztec nation.

The company exported the bulletproof glass packed in plywood containers.

Optima Ballistic Glass Corp. has spent 10 years in the Panamanian market, with more than 100 Panamanian workers developing its operations in the Albrook Free Zone under Law 32 of April 5, 2011, which [...]