Correos y Telegrafos of Panama will invest $20 million in its upgrading plan, which will be focused on providing door-to-door service and delivery of parcels from around the world.

According to representatives of Panama‘s Post Office and Telegraphs (Cotel), nowadays the packages that arrive to the country from Miami take an average of three days, due to the process executed.

With this investment Cotel seeks to increase the efficiency of its operations, triple the number of users and gain a large part of the market.

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Julio Ramirez, Cotel’s general director, told Martesfinanciero.com that “… we found an institution where the money transfers were done manually, the operations were done on paper, which prevents us from knowing in real time.”

The article adds that “… In addition to increasing its participation in the private delivery market, Correos de Panama, which will be the new identity that the state postal service will assume, also wants to compete in the business logistics world. It is in the process of becoming a delivery agency of the Colon Free Zone (ZLC) that is also betting on e-commerce.”
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