08222017Headline:
5 Green Reasons Costa Rica Is the Poster Child of the Environment 4 years ago
Have You Tried Guanacaste’s Fastest Growing Sport? 4 years ago
Was Your Costa Rican Bank Account Closed? 4 years ago
Latin America Investment News on Viva Tropical

Panama Dominates the Region in Quality of Port Infrastructure and Technology

Article Summary:

Panama jumps the start gate when it comes to offering advantages in logistics, telecommunications and the consolidation of major trade agreements. The World Economic Forum places Panama as the number five out of fifteen countries that offer quality of port infrastructure, as part of the small group consisting of Singapore, Holland, Hong Kong and Belgium. In addition, the report notes that in terms of technology transformation Panama sits at number four.

Photo Credit: Revista Summa

Original Article Text From Revista Summa via Google Translate :

Panama Dominates the Region with International Connections

A delegation of 40 professionals headed by William Waxman, vice president of CBRE Port International Logistics, was in Panama until last January 18. The businessmen visited the Miraflores Visitors Center, the Panama Pacific Special Economic Area and the Colon Free Zone.

In the first lecture ‘Logistic Panama 2012′, conducted by CBRE Panama Group, exhibitors and Ricardo Quijano, Minister of Trade and Industry, spoke of the advantages that Panama offers in logistics, telecommunications and the consolidation of major trade agreements. Ramon Rox, CEO of CBRE Panama, said the event was given to know the benefits offered by Panama to establish or expand their business on the Isthmus. This portfolio includes over 300 multinational companies, whose representatives are made up of nationalities from Mexico, Canada and the United States.

The specialists took all the knowledge of the impact of developments in the international port and logistics system, in addition to the benefits in terms of logistics and industrial incentives for foreign investment, among others, to promote the U.S. portfolio between Panama, said Roux.

To serve the world
José Pacheco Tejeira, vice minister of Foreign Trade, explained the growth that the country in areas such as construction, driven by private investment and public investment plan. This includes projects such as hydropower, expansion of the Panama Canal, the international airport and plan to expand the road infrastructure.

The planning director Tocumen International, Luis Eleta, explained the various expansion projects Tocumen International Airport and the Hub of the Americas.

In addition, Pacheco explained the reduction in distance by the Panama Canal, the consolidation and re-export, distribution in the region and transfers to ports, where more than 14,000 ships transit the Canal each year, providing 300 million tonnes through more than 120 routes complete with port infrastructure, which handles an annual volume of 5 million TEUs (20-foot containers).

Panama is the only place where you can move the containers through the land from the Atlantic to the Pacific Ocean in less than four hours, the rail links between the Port of Balboa (Pacific Ocean) and Cristobal and Puerto (Atlantic Ocean ) dominance in the region provide direct connections.

He was also prominent air connectivity with the development of new air network logistics, attractive legal framework for investments in Multinational Headquarters (SEM); laws specifically aimed at complementing multinational companies incentives offered by the special areas not taxable to the foreign operations.

Ricardo Quijano presented the same conclusion about the advantages that Panama offers in logistics, telecommunications and the consolidation of major trade agreements.

Adding that the report presented by the World Economic Forum places Panama as the number five out of fifteen countries that offer quality of port infrastructure, as part of the small group consisting of Singapore, Holland, Hong Kong and Belgium. In addition, the report notes that in terms of technology transformation Panama recorded the position number four in ten countries, which also include Ireland, Qatar and Singapore.

Indexes
To this are added the economic outlook this year. Panama in the region recorded a 4.2% unemployment rate, 10.5% growth in gross domestic product and 5.9% in inflation.

The growth is focused in the areas of logistics, tourism, agriculture, financial services, science and technology, which will generate 500,000 jobs over the next decade, according to Diego Ferrer, deputy director of investments, concessions and risks of State, Ministry Economy and Finance.

“Four years ago I visited Panama, the change I see in these years has been impressive, has grown into an important logistics platform, the future I see in Panama is very promising,” said Maxman.

Link to Original Article:

From Revista Summa

Latin America Investment News on Viva Tropical