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Progress in Free Zone in Tocumen

An announcement has been made that in July the first licenses are expected to be granted to operate in the free zone which is being built in Tocumen and which will be ready within 18 months.

The general manager of Tocumen, Joseph Fidanque III, explained to Prensa.com that there are already twelve companies interested in settling in the free zone which is to be built in the vicinity to the airport grounds. The free zone will consist of 350 thousand square meters “… divided into different warehouses, which will receive tax, labor and immigration benefits.”  The first stage will require an investment of between $11 million and $12 million.

See “Free Zone Logistics Center in Tocumen

Laestrella.com.pa reports that “…The construction of the free zone, which is expected to be completed in 18 months, is part of a larger project, called Zona Multimodal, which aims to eventually turn Panama into an export hub, added Fidanque.”

“… The airport will be allocating 11 million dollars to the construction of the first phase of the Multimodal Zone and 18 million in a second phase. “What is the opportunity?  The connectivity that Panama has does not exist anywhere else in Latin America.”

Thomas H. Brymer II
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