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Latin America Investment News on Viva Tropical

Panama Looks to Spain for Sustainable Infrastructure Plan

Article Summary:

Spain and Panama have strengthened a mutual commitment to share the Iberian country’s experience and knowledge in developing a sustainable infrastructure plan. Spain will assist Panama in developing a comprehensive plan addressing the Central American country’s future roads, rail, and air connectivity needs.

Photo Credit: Estrategia y Negocios

Original Article Text From Estrategia y Negocios via Google Translate :

Spain will help Panama to design sustainable infrastructure plan

Minister of Public Works of Panama Federico José Suárez, presented these plans in an interview with Efe in Madrid after a meeting with the Spanish Minister for Public Works, Ana Pastor, in which they decided to “seize the most “opportunity for both countries is the collaboration.

At the moment, Spain and Panama will work in a support agreement to develop this infrastructure plan “sustainable over time and that we can follow up” to design the communication of the country’s logistics, Suarez explained.

Engineer and businessman, Panamanian Minister of Public Works since July 2009 believed that both countries have “a lot in common today is much more evident,” and in fact believes that “if the crisis had not so strong in here (in Spain) to the best Panama was not an important market. ”

The Central American country of 3.5 million people, is being developed as a “spearhead” of the region in the world, with skills in agriculture, water, energy, tourism, a situation he considered interesting for Spain and Panama maintain their mutual support.

“Spain can give us your experience and make a plan together to mark a way forward to see and have a vision of state policy. The development that Spain is the vision of state and is envied by a network of infrastructure that I believe is the first in the world, “said Suarez.

In fact, infrastructure can enhance Panama, which in 2011 grew at a rate exceeding 10%, for without them lost opportunities “that do not want to be passed” and impact on benefits to society.

These include the work of expansion of the Canal, which advance and 40% led by Spanish construction Vallehermoso, so the Panamanian government is confident that the work is to open in 2014 because “it’s our oil,” he said.

In addition, projects the construction of a fourth bridge to the west by the real estate growth and expansion into that part of the country, a work that the minister considered of “extreme importance and urgency.”
He highlighted the subway from Panama, one of the main projects embarked on by the Executive of this country to carry up to 40,000 passengers per hour in a metropolitan area that spans more than one million people, and hoped to culminate in December 2013.

Another Spanish company FCC, a member of the consortium with the Brazilian Odebrecht to build this subway line, which caused Suarez highlight “extremely important contribution” of all Spanish companies in Panama at this time of expansion.

“Our country had been 30 years behind in infrastructure and we were trying to get quickly to the forefront of this issue” and “Spain is among the top three investors in Panama,” argued the minister, who attended today in the Infrastructure Business Meeting held in Madrid.

One of the priorities set out in this forum is that Latin America needs to reduce the infrastructure gap that separates this region from the more developed countries and double the investment if you do not want to miss the train, which fully share Suarez said.

“Latin America less competitive if it has no infrastructure,” like Panama, continued, a country whose geographical position and opportunities as “very attractive to anyone who wants to be regionalized in Latin America.”
In this sense, Panama is providing benefits to companies who want to settle in the country, said the minister, who said that government belongs to a “corporate mentality” that tries to make the bureaucracy “is not an obstacle” but seeks to “debureaucratize the most of” the country to enhance its capacity and services and make regional headquarters of many companies.

To do this, currently being debated in the Assembly of Deputies Law Public Private Partnerships, to update or develop a new partnership that promotes Panama with all those companies who go “with good intentions, with capital and eager to invest in a country that offers certainty and stability. ”
“The country is open and ready for the arrival of large companies and engineers to make Panama a place in future,” said Suarez, who also hoped that the Central American nation to host the regional headquarters of the UN.

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