The Cabinet Council approved to appoint and instruct Luis Roquebert, current Administrator of the Maritime Authority of Panama, to request from the company Hutchinson Holding, all legal and financial documentation on the sale of the ports of Balboa and Cristóbal by Black Rock MSC.

According to the minister of the presidency, Juan Carlos Orillac, the measure is given because the Panamanian Government has no knowledge of the transaction between these two companies.

“It is through national and international news media that the Government of Panama has learned that the company is in a process of buying and selling the share capital of 90% that belongs to Hutchinson Port Holding,” said Orillac.

The official reported that the Government believes that such documentation is appropriate for the corresponding analysis and thus guarantee the public interest that should prevail in these ports. However, he clarified that the Government always welcomes foreign investment.

“It is an inalienable right to protect and guarantee the best interests of our citizens, through the exploitation of public goods such as national ports coupled with the potential economic fact of them,” Orillac explained.

The minister added that they will be sending this resolution to the Official Gazette so that it is published immediately. Regarding the question of whether Panama is willing to sell its 10% share of the concession, the official simply said: “It is not an issue that is being looked at in this regard.”