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 [...]

Maersk ordered nine vessels of 14,000 TEUs

The Danish shipping company Maersk Line announced the signing of a contract worth $1,100 million with Hyundai Heavy Industries (HHI) for building nine vessels with a capacity of 14,000 TEUs each.

This is the third purchase of an investment program of $15,000 million announced by Maersk Line in 2014, which includes new container vessels, and retrofitting, among other work.

“I am very pleased with this new order, where we decided to adopt a new approach. [...]

Singapore helps training in Panama logistics sector

Entre las ventajas de la ampliación del Canal será la generación de nuevos empleos

By Marijulia Pujol Lloyd

The logistics sector is very important for Panama’s economy. However, several leaders in this industry have said repeatedly that there is a lack of qualified bilingual personnel that could occupy the posts that are going to be created once the expanded Panama Canal starts operations in 2016.

In order to solve this problem, the Panamanian Association of Cargo Agents (APAC), together with the Logistic Cargo Training Center, the Logistic Business Council [...]

Advances of the Panama Canal Expansion project

Creditos para: Canal de Panamá

After eight years of work, the Panama Canal expansion program has reached 91.3% completion as of June 30, according to the latest quarterly report by the Panama Canal Authority (ACP).

The new locks on the Atlantic side began to be filled on June 11, which gave way to the operational testing and quality control of the work. On June 23, gate number eight of the new Gatun Locks, in Colón province, successfully opened and closed [...]

ACP begins bid for tender process for a transshipment port west of the Panama Canal

El futuro puerto de Corozal

By Franklin Castrellón

Global port operators have expressed interest in developing the port of Corozal under the terms proposed by the Panama Canal Authority (ACP), the administrator, Jorge L. Quijano, told The Bulletin.

He noted that the new terminal is needed to meet the growing requirement for transshipment cargo services on the Pacific coast.

Quijano said that a number of shipping companies have indicated to the ACP the need for much more port capacity in [...]

Tocumen prepares new bond issue

El Aeropuerto Internacional de Tocumen, el “hub” de las Américas

To obtain the financing needed to complete the expansion of the South Terminal, the Tocumen International Airport administration expects to reissue debentures.

The delays that have occurred in the work due to changes in the original project design, prevent the administration from beginning to raise funds for the concession of the new “duty free” area, so they have announced that they will need to issue a new bond debt to complete the financing. It is [...]

Tourism: the future of Colón

De izquierda a derecha: H.D Miguel Salas, Diputado en la Asamblea Nacional de Panamá; Licda. Lizbeth de Ramsey, Directora Ejecutiva de APEDE; Licda. Nadgee Bonilla, Directora de Inversión Turística de ATP; Sra. Dagmar de Álvarez, Presidenta de APEDE; S.E. Mario Etchelecu, Ministro de Vivienda; Sra. Carmen Pinky Van Der Hans, Secretaria de FOTUR y Sr. Moisés Véliz, Presidente de APOTUR

On Friday, July 17, the Panamanian Association of Business Executives (APEDE) hosted the Tourism Forum (FOTUR) in Colón to discuss strategies to drive economic development of the city and province.

Under the banner, “Tourism: engine for the transformation and development of the province of Colon”, the event enjoyed participation of well-known public and private figures, who discussed how the travel industry can drive needed economic development for Panama’s Caribbean coast.

Varela’s Urban Renewal Plan for [...]