Vol. 36#18

Week in Review – November 7

FREE AGAIN

The US embassy announced that restrictions on newspapers La Estrella and El Siglo, two of Panama’s most prestigious and long-standing dailies, had been lifted after its owner, Abdul Waked, transferred 51% of his shares to a foundation, a measure that guarantees the continuity of the media, in what has been interpreted as a victory of freedom of expression.

SAVE FUND

If the law does not receive any modification, the savings instrument will not […]

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.

[…]

Chinese companies eye Colon Free Zone

Businessmen from various commercial sectors of the People’s Republic of China, distributors of hardware and technology, visited the City of Colón interested in knowing the operation of the Colon Free Zone, with a view to establishing companies.

The Chinese entrepreneurs were welcomed by the Manager of Zolicol, Manuel Grimaldo, The group is in Panama to participate with a pavilion in Expo F; an international trade fair for hardware, tools, fasteners and metalworking, with significance for […]

AMP personnel train on piracy

Intelligence services, vessel monitoring and regulations were subjects in the training of technical personnel of the Panama Maritime Authority on piracy Issues on October 23 in order to strengthen the knowledge and to comply with international conventions on safe navigation, protection of seafarers’ lives and avoid pollution of the seas. The course was held on “The Impact of Piracy Worldwide and Mitigation Measures.”

The International Maritime Organization (IMO), is concerned about acts of piracy of […]

Construction starts on Amador Cruise Port

Una de las propuestas para el terminal de cruceros de Amador.

The movement of the first shovel of earth in the construction area, work began on the Amador Cruise Terminal.

This is an initiative promoted by the national government through the Panama Maritime Authority (AMP) marking the beginning of a new phase that will impact favorably on the maritime industry and will promote the diversification of the national tourism sector with the arrival of more cruise ships to the Amador area.

The future Amador cruise terminal […]

Panama Canal sets a tonnage record

Canal de Panamá establece récord de tonelaje

Following the close of its 2017 fiscal year (FY17) the Panama Canal announced that the waterway shipped a record 403.8 million Panama Canal tons (PC/UMS) of cargo in FY17, the largest amount of annual tonnage ever transited in its 103-year history.

The 22.2 percent increase from the previous year can be directly attributed to the added capacity provided by the expanded Canal.

According to figures, the Panama Canal transited a total of 13,548 vessels during […]