Franklin Castrellón

Panama must solve problems limiting competitiveness

Índice de competitividad en Latinoamérica y el Caribe.

By Franklin Castrellón

Panama has dropped eight positions in the Global Competitiveness Index 2017-2018 which is made every year by the World Economic Forum (WEF). The country has fallen to 50th position among the 137 economies evaluated under the twelve pillars of the ICG.

They include institutionality, infrastructure, macroeconomic stability, health and primary education, higher education and training, stock market efficiency, labor market efficiency, financial market sophistication, technological availability, market size, business sophistication and innovation.

[…]

Legal actions taken against PPC to recover unpaid dividends

Paul Wallace, Director Ejecutivo de Panama Ports Company S.A.

By Franklin Castrellón

Panamanian lawyer Pedro Meilán filed an action on August 25, 2017 before the Ministry of Economy and Finance (MEF) and the Comptroller’s Office in order to recover the dividends that, according to him, Panama Ports Co (PPC), a subsidiary of Hutchison Port Holdings, has stopped paying the State under the figure of “well hidden” assets.

Meilán bases his complaint on the fact that, in accordance with clause 2.4 of the Contract Law […]

Panama could become part of the Silk Road and globalize it: Tapiero

La nueva Ruta de Seda.

By Franklin Castrellón

The establishment of diplomatic relations with China could boost Panama’s integration into the scheme of the so-called “Silk Road,” said Panamanian economist Eddie Tapiero, a logistics expert.

While he warned that Latin America is outside the concept of the Chinese plan of “One Strip, One Route”, known as OBOR (One Belt, One Road) which is an expanded version of the ancient Silk Road, Tapiero considers that “its inclusion would not be difficult, […]

Canal offers incentives to Neopanamax on return journey south

The Neopanamax ships will receive incentives, if they use the Panama Canal on its return trip.

By Franklin Castrellón

The Panama Canal Authority (ACP) has formulated a proposal to modify the toll system which, on the one hand, provides incentives to Neopanamax vessels on their partially empty return voyage to the South Pacific. On the other hand, the ACP reassigns the container/loose cargo vessels from its classification in the “other” segment to the general cargo segment, which will generate savings for these types of vessels for using the Panamanian route. The […]

ACP to adjusts tender terms of Corozal

¿Una segunda oportunidad para el Puerto de Corozal?

Por Franklin Castrellón  With authorization of the Board of Directors, the administration of the Panama Canal Authority (ACP) will make an assessment of the terms originally proposed for the concessionaire of the construction and development of the container port of Corozal West, at the Pacific entrance of the Canal.

The Panama Chamber of Shipping (CMP) through its president, Rommel Troetsch, had made some observations that, according to the report, the administrator of the ACP, Jorge […]

Customs and procedures are modernized

AUPSA no aumentará costos a la carga de transbordo.

By Franklin Castrellón

As a result of concerns expressed in the Logistics Cabinet Permanent Consultative Council and agreements made in the Cabinet, next June the systems and payments made by electronic means will be modernized and will be initiated in the State entities that provide services to imports and exports, particularly to transshipments. This represents about 95% of the cargo handled at Panamanian ports.

The good news was confirmed this week to The Bulletin by […]

World trade reactivates

Panamá deberá jugar un papel clave como centro regional de comercio y trasbordo de carga.

Por Franklin Castrellón

The prolonged nine-year low economic cycle that began in September 2008 with the bankruptcy of Lehman Brothers bank, driven by excesses in the commercialization of subprime mortgages, seems to have come to an end. A rebound is seen beginning to consolidate world trade, starting in the last quarter of 2016.

The Netherlands Bureau of Economic Policy and Analysis (CPB) reported that, in terms of volume, world trade grew by 2.4% in the […]