Faced with a more than 10 percent decline in exports this year, Panamanian authorities traveled to exchange information with Costa Rica’s Foreign Trade Promoter (Procomer) to learn from Costa Rica’s recent success exporting more than 100 products to different markets. Panama’s official delegation included Deputy Minister Nestor Gonzalez, Exports Director Leyda Gonzalez, and directors of the Panamanian […]
Panama’s government on Thursday warned of punishment for public employees who took any of the more than $59 million in bribes paid by Brazilian construction company Odebrecht in return for contracts. The declaration by President Juan Carlos Varela’s administration came a day after US officials said Odebrecht and its petrochemical affiliate Braskem had agreed to […]
Paris, France-based JCDecaux, the world’s number one outdoor advertising company, and Top Media, leader in the outdoor advertising sector in Central America, signed an agreement last week to merge their activities, said the companies in a press statement In the new venture, JCDecaux-Top Media, 71 percent of the capital is owned by JCDecaux and 29 […]
More than 500 ships have now transited the expanded Panama Canal less than six months after the inauguration of the new locks on June 26, 2016. The Panama Canal marked the milestone 500th transit through the new locks on Wednesday with the transit of the Yan Ming containership YM Unity. In a statement the Panama Canal […]
Moody’s credit rating agency announced that it has assigned an A2 rating to the Panama Canal Authority (ACP) for its business model, unique geographic advantage, and historically strong operational and financial performance. Moody’s expects this performance to continue into the future, supported by the robust institutional framework and corporate governance under which the ACP operates. […]
Italy’s Salini Impregilo, Brazil’s Odebrecht, the Chinese firm CHEC and Costa Rica’s MECO are the four companies that participated in the field trip to see the route that line 3 will take. From a statement issued by Metro de Panama: With a visit to the site where the works of Line 3 of the Metro […]
In order to remain competitive Panama City airport needs to further expand its operating capacity, and is already working on the acquisition of surrounding land. The funds to finance the project to construct a third runway will come from the dividends expected to be generated by the terminal with the granting of duty free premises […]
The strongly demanded promotion abroad to attract travelers to the country can begin, now that the contract with the VML International agency has been countersigned. From a statement issued by the Tourism Authority of Panama: The administrator of the Tourism Authority of Panama (ATP), Gustavo Him, formally extended, on Tuesday, the order to proceed for […]
The government has authorized Consorcio Industrial de las Américas to build a free zone in Pacora, in which 250 manufacturing companies, logistics services, high technology companies, assemblers, and companies from other sectors will set up. The company Consorcio Industrial de las Américas, S.A. (COINLA) plans an investment of $230 million, starting with $50 million for […]
Del Monte will invest $100 million to produce bananas in Chiriqui and Bocas del Toro, and it is estimated that average productivity will reach 2,725 boxes of fruit per hectare per year. From a statement issued by the Presidency of Panama: The revival of the banana-growing areas in the provinces of Chiriqui and Bocas del […]