Design of fourth bridge over the Canal revealed

El puente tendrá una estructura similar a del Puente Centenario (foto) y se construirá en el lado norte del Puente de las Américas

The Minister of Public Works, Ramón Arosemena Crespo, explained that through the Interagency High Commission for the fourth bridge over the Panama Canal, it was decided to build it on the north side of the Bridge of the Americas and its design will be a bracing structure similar to the Centennial Bridge.

The Minister announced that a call has been made for international companies interested in building the bridge.

“The more companies there are, the [...]

Positive forecast for the Industrial Market:

By: Danny A. Quiroz, Valuation and Advisory Director – Colliers International Panama

At the close of 2014, the industrial property market in Panama City showed great dynamism. A rapid and steady growth of supply and demand created recovery, mainly in the area of the East Periphery, which turned this area into the epicenter of industrial real estate development.

Economic stability and an end to the uncertainty generated by the change of government, has reactivated local [...]

Taiwan business delegation meets with MICI/Proinvex

Entre los asistentes se encontraron: Sr. Tong, I –Min; Sr. Wang, Chung-Yu; Sr. Mike Hung; Sra. Wang, Su-Ying; Diana Salazar; Sr. Ronald Maschkowski; Diego L. Chou; Hugo Siu; y Elis De Gracia.

A multisectoral Taiwan business delegation visited the Ministry of Commerce and Industry and PROINVEX PANAMA.

The delegation was accompanied by representatives of the Embassy of Panama in Taiwan, the Office of the Economic Counselor of Taiwan in Panama, the Ministry of Economic Affairs, the Association of International Economic Cooperation of Taiwan and the National Association of SMEs of Taiwan.

“It’s the first time these SME companies, with their representatives, have visited Panama and have had [...]

A prison for gang leaders in the Pearl islands

Nuevas instalaciones de la cárcel para cabecillas de bandas en Punta Coco

By Ilene Little

A new prison facility will be built on the grounds of the Naval Air Station in Punta Coco to isolate criminals from the general prison population housed elsewhere in Panama.

Punta Coco is the southernmost post of Isla Del Rey in the Las Perlas Archipelago. According to newspaper reports, the Naval Air Station was built in 2014 by the U.S. Southern Command at a cost of $73.5 million for the purpose of [...]

Colon Free Port studied by free zone and governmental entities

La Dirección de Ingresos, Migración, Aduana, Asesores y personal de la Zona Libre reunidos con el Gerente de La Zona Libre, Surse Pierpoint

The Manager of the Colon Free Zone, Surse Pierpoint, met with representatives of the Department of Revenue, Immigration, Customs, and advisers and staff of the Free Zone to discuss technical issues on the Colón Free Port project.

The project is part of the new Colon development plan, with the initiation of studies to extend the benefits of the Free Zone to the 16 city streets of Colon.

This law is for national citizens and tourists [...]

MOL leaps ahead with more giant ships

Mitsui OSK Lines (MOL)

The Japanese shipping company Mitsui OSK Lines (MOL) has announced a contract with the Korean shipyard Samsung Heavy Industries, to build four container ships of 20,150 TEU capacities, at a total cost of $619 million.

It will add another two to be built in Japan, for which it has already signed a long-term chartering agreement with Shoei Kisen Kaisha.

The Japanese shipowner noted that these six colossal vessels are the largest in the world, because [...]

Vision of Tocumen in the next ten years

Joseph Fidanque III

By Juan Rafael Cortés Dean

In the plans for the South Terminal of Tocumen International Airport is a monorail that connects with the Panama Metro Line Two that would cost $60 million. There is also a need to build a new control tower, a new Customs center, 20 gates in the terminal, a third runway and a school of logistics.

The master plan may cost $600 million at the end of the development.

This was [...]