NEW PORT PLAN
On April 8, the Cabinet authorized the direct sale of 126 hectares on Remo Largo Island in the district of Cristobal, Colon province. The sale will be “through exceptional procedure”, i.e., directly, so that the company SMC Barcelona SA, can construct, develop, manage and operate a multipurpose container handling port and other complementary activities.
This summer has been one of the longest in recent years, with Alajuela Lake and Madden [...]
Workers of the ports of Cristobal and Balboa require the Ministry of Labor and Workforce Development (Mitradel) to observe and comply with the right to unionize. The legal representative of these workers, Martín González, said more than 500 employees of Panama Ports Company have taken to the streets to protest for the Mitradel to comply with the ruling of the Supreme Court in favoring the creation of a union since 2010 that they [...]
PERU EYING PANAMA
Peru aims to boost its exports to Panama and expand its industrial presence in the country, hence its wide representation at the next Expocomer (March 26 to 29). Panama is among the eight major investors in Peru with almost $1,000 million in direct investment and bilateral trade in 2013 reached $700 million with a favorable balance for the Andean country. In 2013 Peru had 13 exhibition booths at Expocomer Panama, [...]
The Cabinet authorized the Ministry of Finance (MEF) to celebrate by exceptional procedure with Amador Marina, a contract for leasing, investment and development of seven hectares in Amador to build a marina. The President and his ministers also endorsed for the firm Serviamérica Corp., a lease and investment, with first option, of a site of 12 hectares in Rodman for a multimodal port.
The replacement of the director of [...]
CANAL BLAME GAME
President Ricardo Martinelli blamed the former administrator of the Panama Canal Authority (ACP) Alberto Alemán Zubieta, for the current crisis paralyzing the expansion work on the waterway. “Alberto Alemán Zubieta is responsible for what is happening. He knew what could happen and should have taken this into account”, the president said in an interview on his (Martinelli’s) NexTV channel.
After three weeks of intense negotiations, the Panama Canal Authority (ACP) [...]
CFZ FEELS PINCH
The commercial activity in the Colon Free Zone (CFZ) closed 2013 at $27,900 million, down 9.4% compared to the previous year, which was $30,800 million. This fall, according to a report on banking published by the Superintendence of Banks of Panama (SBP), corresponds to the current situation faced with two major trading partners: Colombia and Venezuela.
The $100 million paid to the government by businessmen of the Colon Free Zone [...]
The former administrator of the Panama Canal, Alberto Alemán Zubieta, revealed details of a system used by the canal to secure a shielded contract in awarding the tender for the third set of locks. Alemán Zubieta, who headed the canal until September 2012, said all items were considered to measure the risks of the work through the lens of international independent technical advisors in the selection process, including auditors and qualified [...]