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Fourth Bridge over the Canal Approved

Posted on 2018-11-14

Two years after the publication of the tender, the Varela administration and the Panama Fourth Bridge Consortium signed the contract for the design and construction of the Fourth Bridge over the Panama Canal. From the statement of the Ministry of Public Works: November 9th, 2018. Today, the Government of the Republic of Panama, through the Ministry of Public Works (MOP) carried out the signing of the con...

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Insurance Market Up 5%

Posted on 2018-11-07

In the first nine months of this year, premiums of $1,115 million were written in Panama, exceeding by 4.9% the value reported in the same period of 2017 The latest data from the Insurance and Reinsurance Superintendence, between the first nine months of 2017 and the same period in 2018, the value of premiums written went from $1.063 million to $1.115 million. Up to September this year, by cate...

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Dutch mission at the TOC Americas Conference

Posted on 2018-11-07

From 12 to 15 November, Dutch companies from the logistics sector will visit Panama during the TOC Americas Conference . The leader of the mission is Rene van der Plas , director of the Port of Rotterdam International, who has extensive experience in the maritime and logistics industry, and directed the expansion of the Port of Rotterdam between 2004 and 2014. Among the Dutch companies in the logistics s...

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They will auction the first solar power plant in Panama

Posted on 2018-11-06

The Ministry of Economy and Finance (MEF)  authorized the Empresa de Generación Electrica, SA (Egesa), to auction the Sarigua solar plant , located in the national park of the same name, located in the province of Herrera. Both the MEF and the General Comptroller of the Republic made appraisals of the solar power plant,concluding that the average price of the sam...

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Panama generates 82 new patentable concepts

Posted on 2018-10-24

80 participants from 20 public and private Panamanian entities, among which are universities, companies and associations received extensive training in the third edition of the Intensive Workshop for Accelerated Patent Development, organized by C AF-Banco de Desarrollo de América Latina and the National Secretariat of Science, Technology and Innovation (Senacyt) with the objective o...

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Colon Free Zone: Activity continues upwards

Posted on 2018-10-24

In the first nine months of the year, the commercial activity of the Panamanian free zone exceeded $ 16,000 million, 10% more than what was registered in the same period of 2017. In line with the figures reported between January and September of this year, as of October imports in the Colon Free Zone (FTA) totaled $ 7,622 million, and re-exports amounted to $ 8,464 million, exc...

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Panama and China conclude third round of negotiations

Posted on 2018-10-17

The negotiating teams of Panama and China closed the intellectual property chapter on Saturday, October 13, and they advanced in cooperation issues, rules of origin and access to markets, in the third round of negotiations of the free trade agreement (FTA) between both countries.  The meetings of this round began last Tuesday and concluded this Saturday in the city of Panama. The two countries officially laun...

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Panama: Exports grow 8%

Posted on 2018-10-17

From January to August of this year, sales abroad totaled $ 487 million, resulting in an increase of 8.3% over the same period of 2017. The latest data from the Comptroller General of the Republic, detail that between the first eight months of 2017 and the same period of 2018 exports rose from $ 450 million to $ 487 million, an increase that is partly explained by the behavior of banana sales and su...

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Panama will launch new platforms to develop the hub digital

Posted on 2018-10-10

Panamá will launch in October 2018 new digital platforms such as: The Digital Logistics Interoperability ; the New  Panama Online and those of Electronic Refining and Online Collection in the General Comptroller's Office of the Republic , as important steps to develop an ecosystem of digital entrepreneurships in the logistics and finance sectors, two areas in which the country has competitive advantages...

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ACP Restructures Plan For Corozal Port PLAN

Posted on 2018-10-03

'We fell asleep and others woke up very early and beat us': Quijano. The Panama Canal Authority (ACP) restructured the container port project in Corozal to try to give it a concession, in a second call for bids in 2019. The first tender was declared void in March 2017 when no proponent appeared, in the midst of an accumulation of legal appeals filed against the project by Panama Ports Compan...

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Panama and China: Friendship and Cooperation Relationship

Posted on 2018-09-26

"China highly values ​​your relationship of friendship and cooperation, on an equal footing, of respect and mutual benefit with the Republic of Panama," said the ambassador of the People's Republic of China on the isthmus, Wei Qiang. Wei, who gave a speech during the celebration for the founding of the People's Republic of China, said that his country remains firm "in its best dispositio...

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COPA Airlines: New airplane Max 9

Posted on 2018-09-19

Copa Airlines starts flights with its new aircraft the Boeing 737 MAX 9, one of the most modern aircraft on the market, which promises more comfort, fuel savings and reduction of gas emissions. "The MAX 9 means a new era in the more than 70 years of Copa Airlines. With the arrival of this aircraft we incorporate the latest Boeing technology, which will be part of one of the most modern and young fleets in the industry....

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Panama: Indian Investments

Posted on 2018-09-14

In the framework of his official mission in India, Vice Minister Luis Miguel Hincapié gave a keynote address at the headquarters of the Chamber of Commerce and Industries of India-FICCI, in which he shared a series of data with Indian entrepreneurs. and indicators that show the growing commercial development of Panama and the positive impact it has had in the region. He also highlighted our multimodal platform, the e...

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Metro de Panama: List of requirements for the construction of Line 3 is in Panama Compra

Posted on 2018-09-13

Metro de Panama, S.A. published on Wednesday (September 12) in the portal of Panama Compra, the Bid for Best Value for the construction project of Line 3, which will benefit the residents of West Panama. The program includes, the engineering design, construction of civil works, auxiliary line installations, stations, supply and installation of the integral system that includes monorail, as well as the start-up of the s...

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Panama: Tour Chinese operators

Posted on 2018-09-12

In order to know the tourist destinations of the country and conduct rounds of negotiations with their counterparts, arrived on the country, this September 13, visit of about 10 operators in Beijing, capital of the People's Republic of China. This is the first official contact with the operators, after the authorization of the Chinese government to start commercial operations with the 66 Panamanian companies t...

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Panama: Commitment to Human Rights

Posted on 2018-09-12

The Vice Minister of Multilateral Affairs and Cooperation, María Luisa Navarro, will carry out an official mission in Geneva, Switzerland, with the purpose of participating in the Thirty-seventh Session of the Human Rights Council to be held in Geneva, Switzerland. In this meeting, the Vice Minister Navarro will reiterate the commitment of Panama in the defense, protection and promotion of human rights as one of the ...

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Panama: Law 653 of fiscal exoneration to the 'call centers' is approved

Posted on 2018-09-07

The law applies to natural or legal persons in the sector, eliminating differentiated tax treatment for internal and external operations. The plenary session of the National Assembly approved in the third debate the bill of Law 653 that regulates the activity of the call centers for commercial use and frees the payment of direct and indirect taxes to the companies dedicated to this activity. The Ministry of Econom...

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Panama and Japan: Expanding Cooperation

Posted on 2018-09-05

The Vice President and Chancellor Isabel de Saint Malo de Alvarado received on Monday the Vice Minister of Foreign Affairs of Japan, Masahisa Sato, in a meeting that confirmed the close relationship between Panama and this Asian country, which in the last four years has strengthened its commercial alliance and cooperation in development and infrastructure. Accompanied by the Vice Chancellor, Luis Miguel Hincapi&ea...

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Panama: First Gas Plant starts Operations

Posted on 2018-08-29

With an investment of USD 1,150 million, the first natural gas-based power plant and the first LNG terminal in Panama and Central America, owned by the company AES Colón, came into operation. Built in a record time of only 27 months, this project creates an energy hub that will facilitate the development of new businesses and industries. AES, the first investor in the energy sector in Panama, together with Inversione...

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ACP Promotes New Business with Asia

Posted on 2018-08-22

The Panama Canal Authority and the Development Authority of the Tennessee-Tombigbee Waterway signed an agreement that will increase business from Asia. The administrator of the Panama Canal Authority, Jorge Luis Quijano, and the governor of the state of Mississippi and chairman of the board of directors of the Tennessee-Tombigbee Waterway Development Authority, Phil Bryant, signed the renewal of the agreement, which It was ...

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MICI: Update - Law of the Headquarters of Multinational Companies

Posted on 2018-08-14

With the aim of increasing foreign investment and consolidating the logistics and services platform of Panama, the Minister of Commerce and Industries, Augusto Arosemena Moreno, presented a bill to the National Assembly that seeks to make the special regime for the establishment more competitive. and operation of Multinational Company Headquarters (SEM) in our country. Arosemena stressed that the modification of the SEM reg...

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Colon Free Zone seeks to attract companies from Shanghai

Posted on 2018-08-08

The manager of the Colon Free Zone, Manuel Grimaldo, received His Excellency Li Qiang, Member of the Political Bureau of the Central Committee of the Communist Party of China, which he considered a guest of great value who is interested in knowing the development of the area frank largest in the Hemisphere. Li Qiang, an ally of Chinese President Xi Jinping, was appointed last October as head of the Chinese Communi...

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Panama: Promotes Logistics Platform in Belgium

Posted on 2018-08-01

In the framework of an invitation to visit the Port of Zeebrugge, the most important port for the transfer of automobiles (Ro-Ro) and one of the fastest growing in Europe, Chancellor Isabel de Saint Malo de Alvarado, learned about the wide alternatives which companies based in the Belgian maritime terminal offer access to the European market and shared the competitive advantages that Panama offers through the Canal and its ...

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Colon Free Zone seeks to attract companies in Costa Rica

Posted on 2018-07-25

The free zone of Colon in their search for new markets put the sight in companies in Costa Rica, a country that has a trade with important Panama, representing his fifth partner. Today the economy of Costa Rica is growing at a rate of 3.8% and stands as the 5th trading partner of Panamanian exports, representing 5.3% of the same. The Manager of the Colon free zone (Panama) Manuel Grimaldo, offered to Costa Rican entrep...

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First Gas Shipment: AES Plant in Colon

Posted on 2018-07-18

The gas boat Provalys, docked at the dock of AES Colon, with the first shipment of natural gas for the operation of the power generation plant of this company. The ship was contracted for the execution of the commissioning tests of the power generation plant (preparation for the start of commercial operation) and belongs to Engie, the company in charge of providing natural gas to the project The ship will be in th...

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Panama: July SDGs Month

Posted on 2018-07-13

With the purpose of involving citizen participation to develop a process of national ownership, July was decreed as the month of the Sustainable Development Goals (SDG). The Government of Panama, through the Vice President and Chancellor, Isabel Saint Malo de Alvarado, who in turn chairs the Social Cabinet, launched the "Month of the SDGs", established by Executive Decree No. 75 of June 29 2018, wit...

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Panama: Economic activity grows 5%

Posted on 2018-07-11

For the second consecutive month, Commerce and Transport were the sectors that contributed most to the year-on-year increase of 5% recorded in economic activity to the month of April. From a statement issued by the Office of the Comptroller General of the Republic: The Monthly Index of Economic Activity (IMAE) in the Republic, for January-April 2018, grew by 3.77%, compared to the same period of 2017. Th...

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Panamanian Ports: Ranking of ECLAC

Posted on 2018-07-04

The Panamanian ports returned to occupy the leadership position of the 2017 annual ranking of ports of the Economic Commission for Latin America and the Caribbean (ECLAC) , by unseating the port of Santos in Brazil. The annual report, which collects data on the maritime and logistic profile of each terminal, reveals that the three port companies operating in the Panamanian Atlantic: Manzanillo International Terminal (MIT), ...

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Panama & Costa Rica: New Bridge Over Border

Posted on 2018-06-27

Panama and Costa Rica began work on the construction of the new bridge over the Sixaola River on the border between the two countries, which will allow better communication and transportation. With the validation of the design, work began on the Binational bridge that will be in charge of the Sixaola Binational Consortium, composed of the companies Constructora Meco of Costa Rica and the Mexican companies Cal y Mayor Asocia...

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Panama Canal: Coffee Plant Development

Posted on 2018-06-20

The first coffee processing plant in Capira went into operation on Monday, as part of the Environmental Economic Incentives Program (PIEA) developed by the Panama Canal. The PIEA, established in 2009, is a multi-component program to address the need to care for wooded areas, improve intervened areas and protect the soils of the river basin to ensure the existence of water for human consumption and for operation of the water...

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Panama & China: First Negotiations

Posted on 2018-06-13

Two weeks after the first official round of negotiations and with the objective of aligning criteria, the Panamanian government initiated the process of consultations with the business sector. The Ministry of Commerce and Industry reported that "... The consultation process seeks to align the vision of government institutions and agree on objectives with the private sector to define the points of greatest interest that...

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Panama: Best Place in the World to Live

Posted on 2018-06-06

Panama is among the three best places in the world to live comfortably for foreigners who retire, especially United States. This qualification is included in the 2018 Global Retirement Index, prepared by International Living, a journal dedicated to the publication of valuable information for retirees who require information about places abroad. The report, revealed in May, classifies the cities where you can live healthier ...

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Panama: Model of Sustainable Development

Posted on 2018-05-30

Panama advances in its model of sustainable development and needs to articulate and integrate its public policies to unite all efforts in one direction and continue to advance. This was the main conclusion of the forum: Panama: the future we want. Action for Climate, Biodiversity and Ecosystems for Sustainable Development. The Director of International Organizations of the Ministry of Foreign Affairs, Guadalupe Rudi said th...

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International Tourism Expo

Posted on 2018-05-23

On May 25 and 26, a meeting of tourism companies from Central America will take place in Panama City, with the participation of buyers from all over the world. The International Tourism Expo 2018 will be held at the ATLAPA Convention Center, in Panama City. At the meeting, organized by the Chamber of Commerce, Industries and Agriculture of Panama, more than 160 international emitting wholesalers from Europe, North America a...

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Panama - Chiriqui: Commission for Train Project

Posted on 2018-05-16

The Government created the High Level Commission of the Panama-Chiriqui Railway Project, which will act as liaison with the entities designated by the Government of China to coordinate everything related to the feasibility study of the train construction project. He did it through an executive decree which bears the signature of the President of the Republic Juan Carlos Varela and the Minister of the Presidency, Alvaro Alem...

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AMP meets with Recognized Organization of China

Posted on 2018-05-11

The Maritime Authority of Panama met with the Recognized Organization and Classification Society (OR) China Classification Society (also known as CCS) with the purpose of presenting the services provided by the ship registration service. CCS is among the first companies in its field in the world, holding a great reputation and international prestige founded in 1956. The meeting took place in its offices in Be...

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Panama: Promotion by Chinese tour operators

Posted on 2018-05-09

About 10 Chinese tour operators arrived in Panama with the purpose of knowing the country's tourist destinations to promote them in their country, after the start of the China Air flight. The tour operators come from the province of Guangzhou, the People's Republic of China, where last March the Tourism Authority and private companies participated in the International Travel Fair of Guangzhou, with Panama declared a...

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Panama & Haiti: Agricultural Cooperation Program

Posted on 2018-05-02

The Minister of Agriculture, Natural Resources and Rural Development of Haiti, Carmel Andre Beliar, and the Director General of International Cooperation of the Panamanian Ministry of Foreign Affairs, Selina Baños, agreed to strengthen cooperation in agricultural matters. To this end, they agreed on a group of actions, with the aim of formalizing the framework cooperation agreement signed in 2014 and strengthening, e...

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Tocumen Airport: Advances development of FTZ

Posted on 2018-04-25

The development of a logistics area at the international airport of Tocumen advances when 30 companies showed their interest in the development of the project. Tocumen International Airport, carried out the approval process for the first phase of construction of the free trade zone, expected to develop adjacent to the terminal, as part of its plans to consolidate Panama as the main center of transshipment of goods from Lati...

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Panama: USD 80 million for Infrastructure

Posted on 2018-04-18

A loan from the World Bank is used to finance improvements to the infrastructure and the quality of services in health, education, and water and sanitation in the country's 12 indigenous territories. From a statement issued by the World Bank: Washington, March 15, 2018-The World Bank Board of Directors approved a USD  80 million project today to improve the infrastructure and quality of health, ...

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Panama & Dubai: Logistics Hub

Posted on 2018-04-11

Panama and Dubai are integrated through their logistics hub to attract investment and business for both regions, the first being the gateway to Latin America and the second the gateway to the Middle East. The document was signed by the Minister of Commerce and Industries, Augusto Arosemena and the president of the Dubai Chamber of Commerce, Majid Saif al Ghurair, in the presence of the President of the Republic, Juan Carlos...

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Air China: New Route Beijing-Houston-Panama City

Posted on 2018-04-02

On April 5, 2018, Air China will launch a new route from Beijing to Panama City, passing through Houston. It is expected that the new route will greatly facilitate exchanges between both countries, as well as with neighboring regions, and offer passengers a wider range of options. In June 2017, China and Panama signed the Joint Communiqué between the Republic of Panama and the People's Republic of ...

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Colon Free Trade Zone activity grows

Posted on 2018-03-28

The commercial movement in the Colon Free Trade Zone (CFTZ) in January amounted to $ 1,718.7 million, at 24.7% increase compared to January 2017, when the amount reached $ 1,378.5 million, the entity reported. Of the total movement of goods, $ 775.5 million correspond to imports, while re-exports totaled $ 943.2 million. The records exceed $ 700.6 million in imports and $ 677.8 million in re-exports in the first month of 20...

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Panama: World Hub

Posted on 2018-03-21

The establishment of more than 100 regional headquarters of multinational companies is consolidating to Panama as a logistic hub of the world. The high connectivity of the country is a factor key said the President during his participation as a speaker in the meeting on the AT & T telecommunications company leadership. In his dissertation entitled Panama a success story, the President stressed that "our g...

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Tocumen Airport: Expands Business Line

Posted on 2018-03-14

Tocumen, S.A., will expand its business line with the construction of a logistics area for the handling and manufacture of merchandise. The Tocumen airport will invest an approximate of 12.3 million dollars to enable the first 18 hectares where companies will be installed to make merchandise labeling, packaging of perishable products (food) and assembly of technological devices such as computers and cell phones, among other...

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Panama & China: Progress of Bilateral Agenda

Posted on 2018-03-07

The advance of the bilateral agenda between China and Panama, as well as the establishment of diplomatic relations between both countries, were considered by the two governments at a meeting held in Panama. On her official visit to Panama, the Minister in charge of the Office of the State Council for Chinese Affairs in the Overseas, Qiu Yuanping, emphasized to the President of the Republic, Juan Carlos Varela, tha...

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Panama: Certified by Guinness World Records

Posted on 2018-01-22

The Guinness World Records organization, universally recognized authority on documenting the world records, gave Panama certified as a holder of the "the world's largest ship register", with more than 8 thousand ships, which represent about 18% of the world's maritime fleet. The authorities pointed out that it is the first time that gets this title of record, for which the number of ships wi...

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Panama: Economic Activity Up 4%

Posted on 2018-01-15

From a report by the Comptroller General of the Republic: The Monthly Index of Economic Activity (IMAE) in the Republic, for the accumulated period of January - October 2017, grew by 5.42%, compared to the same period in 2016. The categories of economic activity that showed favorable performances were: transport, storage and communications (includes canal, ports and aviation), construction...

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Panama: Scholarships to students of Spain, Korea, Chile & Mexico

Posted on 2018-01-08

Panama launched the first call for scholarships of the program of international student mobility, an initiative that seeks to promote the mobility of students through the Exchange, this as part of the National Plan of cooperation "Panama cooperates". It is a program that starts up the country, through the Ministry of Foreign Affairs, as a provider country cooperation, which will provide 30 scholarships f...

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Panama & China: Trade and Opportunities in Logistics

Posted on 2017-11-28

From a statement issued by the Panamanian Chamber of Construction: As a result of the recent diplomatic opening with the People's Republic of China, the Panamanian Chamber of Construction (CAPAC) has included in the program of the fourth session of the 2017 Business Symposium important issues related to commercial relations to be executed with the second power world.  The event to be h...

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Panama: Attractive Country for Multinational Companies

Posted on 2017-11-17

According to the Center for Economic Studies of the Chamber of Commerce of Panama, (CEECAM), the Isthmus remains an attractive country for foreign investment, because the economy maintains an adequate rate of growth that facilitates and stimulates the generation of business. In the first half of 2017, Direct Foreign Investment reached two thousand eight hundred and forty four million 600 thousand, "according ...

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Bocas del Toro: Increased Tourism

Posted on 2017-11-09

2 to 5 November, Isla Colon, Bocas del Toro, one of the most popular tourist sites of Panama province recorded an approximate income of 6,400 people, of whom 5,914 arrived by sea and 486 by air, said Roger López, regional director of the Tourism Authority of Panama in Bocas del Toro. Of this total, daily they set out in boats registered approximately 3,100 people towards the main islands of the archipe...

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Panama: Economic Activity Grows to 5.7% - August 2017

Posted on 2017-10-31

From a report by the Comptroller General of the Republic: The Monthly Index of Economic Activity (IMAE) in the Republic, for the accumulated period of January - August 2017, grew by 5.73%, compared to the same period in 2016. Through its level of representation, it was observed that the categories of economic activity that showed the highest level of growth were: transport, storage and communications (in...

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China's new Ambassador arrives to Panama

Posted on 2017-10-26

The new Ambassador of the people's Republic of China in Panama Wei, Qiang arrived on Friday, October 20, a few days prior to the visit of the Panamanian President Juan Carlos Varela to Chinese soil in which more than 20 agreements will be signed. Upon arrival the diplomat indicated that the priority for now is to organize the view state of the Varela President to China to make it a success. He said t...

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Transit of Vessels Canal to June Up 5.5%

Posted on 2017-10-17

The transit of vessels through the Panama Canal increased by 5.5% in the first half of this year compared to the same period of 2016, going from 6,000 units to 7,000 698 68 units. The month of increased flow was March, when 296 thousand were recorded, followed by January with 260 thousand ships, according to statistics from the Panama Canal Authority released by the Comptroller General of the Republic.&n...

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Panama: Foreign Direct Investment Up 6%

Posted on 2017-09-29

Foreign direct investment received by the country in the first six months was 6% higher than that registered in the same period in 2016. Prensa.com reports that "...Most of the investment - 66.6% - corresponds to reinvestment of profits, that is to say, profits of foreign companies that remain in Panama, instead of being remitted to their countries of origin." "...8% corresponds to the pur...

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Panama & China begin new era

Posted on 2017-09-20

This Sunday, September 17 opened officially the headquarters of the China Embassy in Panama It was opened by the Foreign Minister of China Wang Yi, the Panamanian President Juan Carlso Varela during a visit official two days which seeks to encourage more than 20 bilateral agreements on issues such as cooperation, tourism, aviation, maritime and many more. "The establishment of diplomatic relations w...

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Maritime Industry Meeting in Panama

Posted on 2017-09-08

From September 27th to 29th, companies from the maritime sector will be meeting in Panama to discuss issues related to technology, rules and regulations in the industry. First Annual Maritime Conference of Panama entitled "The Next 100 Years" set within the framework of Panama's 100-year ship registry. At the Sheraton Hotel in Panama City. The conference will integrate for the first ti...

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IMAE: Growth in Panama Economy with a 6.18%

Posted on 2017-08-28

The monthly Index of Economic Activity (IMAE) indicates that the Panamanian economy altogether to grown a 6.18% from January to June. In the first half of the year sectors such as transport, storage and communications, which reflect the activities of the Panama Canal have been the major drivers of the economy. Following the construction, exploitation of mines and quarries, electricity and water, public a...

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Panama: Lead the Growth of Latin America

Posted on 2017-08-17

The Panamanian economy returns to lead the growth of the Latin American region with a growth of 5.6% for the 2017 according to projections prepared by the Economic Commission for Latin America (ECLA). Dominican Republic, who had surpassed Panama, will grow 5.3% to the second place according to the information given Thursday 3 August the Secretariat Ejecutiva de Cepal, Alicia Bárcenas at press conference in ...

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More Foreigners Workers Wanted in Panama

Posted on 2017-08-11

Entrepreneurs have proposed increasing the proportion of foreign personnel that can be legally contracted by companies operating in the country, from 15% to 20%. Lack of personnel with the qualifications demanded by local companies and the multinationals that decide to settle in Panama is the main reason behind the proposal put forward by the business sector to authorize the hiring of more foreign staff. ...

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Panama Savings Fund: Investment Plan 2017-2018

Posted on 2017-08-04

Each year the Board of Directors of the Panama savings Fund (FAP) approved a new investment plan, which has already been done for the 2017-2018 period. The plan of investment for this year is composed of liquid assets in cash that will represent 5%, while Global fixed income will be 71%, 4% inflation-indexed sovereign bonds and the income Variable (corporate actions): 20%. It is composition lets see an i...

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Business Grew 9.5% in the First Quarter

Posted on 2017-07-26

The Panamanian economy registered a 6.2% increase in gross domestic product in the first trimester 2017, according to the Comptroller General of the Republic. positive behavior is recorded in the construction industry, mining, private education, communications, government services, financial sector and trade.  Overall business activities grew 9.5% in the first quarter. Disaggregating, wholesale trade gre...

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More European Travelers Using Tocumen Airport

Posted on 2017-07-14

From a statement issued by the Tourism Authority of Panama:   From January to May 2017, a total of 102,388 passengers from Europe came into the country through Tocumen International Airport, some 20,754 more than in the same period in 2016, a growth of 25.4%.   The European airlines that increased passenger revenue in this period of 2017 were: Iberia, with a total of 30,677 pa...

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Panama: Positive Rating of the OECD Global Forum

Posted on 2017-06-30

Panama received a positive rating in the evaluation of the exchange of fiscal information of the Global Forum on transparency and exchange of tax information from the Organization for cooperation and economic development (OECD) announced so the Panamanian Government. Forum assigned a temporary grade of "complier greatly" to the country, the second best note which cannot be obtained, explained Publius Cor...

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Panama: Foreign Investment Up 11%

Posted on 2017-06-20

Foreign direct investment, during the first quarter of 2017, totaled B /.1,315.4 million, representing 10.7 percent more than the B /. 1,188.7 million recorded during the same period last year, according to preliminary figures from the National Statistics and Census Institute (INEC) at the Office of the Comptroller General of the Republic. INEC stastics indicate that, in the first three months of 20...

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Panama & China: Details of Relationship

Posted on 2017-06-13

12 June, Panama announced a change in its commercial and diplomatic strategy to sign an agreement to establish diplomatic relations with China popular and break with Taiwan. Mainland China is the fourth largest trading partner of Panamanian exports in 2015, representing 5.9% of the total FOB value, is also the number two Panama Canal user.To this is added that the Asian country is China the third trade partner of impor...

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Panama Canal: New Record

Posted on 2017-06-09

The Panama Canal set a new record in February 2017 after reaching a daily average of 1.18 million tons of the channel (PC/UMS), with 1,180 ships transit through the Canal expanded and original. The previous record was established in January of 2017 with a daily average of 1.16 million PC/UMS tons to navigate 1,260 boats. This is the third consecutive month of records for the Panama Canal. In Decembe...

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Germany: Tourism Business in Panama

Posted on 2017-05-31

A group of German wholesale travel agents will be meeting with local tour operators to explore business opportunities. From a statement issued by the Panamanian Tourism Authority: A total of 11 German tour operators from the Lufthansa City Center chain will be staying for a week in Panama in order to familiarize themselves with the tourist market and set up tour packages including destinat...

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Panama: Best Destination for Congresses & Conventions

Posted on 2017-05-22

The ICCA report measures the most popular destinations for the celebration of international conventions based on the greatest number of events, in which Panama - by region - improves its position with 45 events over Costa Rica and Dominican Republic. Gustavo Him, Minister of tourism of Panama, said that the ATP has worked together with the private sector to resume the tourism of congresses and conventions, so the ...

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Panama: Companies offer 2,400 job places

Posted on 2017-05-08

2,400 workplaces are available at the Free Employment Exchange of the Ministry of Labor and Labor Development (Mitradel). Among these offers 306 vacancies are for food handler, 189 for general assistant, 182 for registration staff and another 175 for cashiers. There are also vacancies for vendors, mooring review, demonstrators, BDI updaters and office managers, customer service, drivers, lift brigade, sales execut...

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ATP: Unique Promotion of Panama in American countries

Posted on 2017-04-28

A promotional campaign with videos and online banners on the contrasts of the Panama destination for vacations were launched this month by the Panama Tourism Authority and Copa Airlines in the United States, Brazil, Mexico and Colombia. The campaign, which consists of two videos and eight banners, is focused on 5 strategic pillars: city, shopping, nature, history and beach. It will be advertised in digital media, radio, mag...

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International Event on Quality Standards in Tourism

Posted on 2017-04-25

From a statement issued by the Tourism Authority of Panama: From May 22 to 27 Panama will be hosting the twelfth plenary meeting of the ISOTC228 Committee on Tourism and Related Services, an organization that aims to ensure the quality of tourism internationally. Last year in Kuala Lumpur, Malaysia, Panama managed to obtain the votes for hosting this committee in 2017, in which Argentina, France and Trin...

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Tocumen Airport: New Multimodal Zone

Posted on 2017-04-24

The Tocumen International Airport Free Zone is designed to serve as a port of import, export and transit of high value merchandise The air freight transport in Panama is becoming more consolidated, so the administration of the Tocumen International Airport, today launches its new development proposal called "The Multimodal Zone". With an initial investment of $ 11 million, the main goal of '...

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Panama: 10 Latin American destinations by TTCI

Posted on 2017-04-21

The World Economic Forum (WEF) World Tourism Competitiveness Index (WEF) 2017 revealed the list of countries best positioned in the tourism sector worldwide. According to the EMF report with 41 million international arrivals in 2015 and an average growth of 5%, the travel and tourism industry has incredible potential to help generate growth, create jobs and enable development, especially in Latin Americ. According...

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Panama: Foreign Investment increased by 17.8% in 2016

Posted on 2017-04-20

The XXXV international fair Expocomer 2017, which brings together from Wednesday March 22 in Panama about 10,000 businessmen from more than 30 countries, consolidates the country as a business center, said its promoters. Presidential Minister Alvaro Aleman said at the opening of the fair that Panama, like Latin America, faces difficult situations due to different corruption cases, and defended transparency as...

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Bocas del Toro: More Flights

Posted on 2017-02-03

From February 24 Air Panama will increase the number of flights made from Panama City to the airport in Isla Colon from three to four.   From a statement issued by the Tourism Authority of Panama:   From February 24, Air Panama will increase the number of daily flights to the province of Bocas del Toro from 3 to 4, while during holidays, long weekends and w...

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Panama: Value of New Construction Down 3% in 2016

Posted on 2017-01-31

In San Miguelito and Panama the reduction compared to 2015 in the value of buildings, additions and repairs was 28% and 8%, respectively.   Figures from the Office of the Comptroller General of  Panama show that by the end of 2016 the value of construction, additions and repairs amounted to $2.088 billion, 3% less than the $2.075 billion in 2015.    ...

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Panama: Job Hiring Up 5%

Posted on 2017-01-27

Between January and December hiring by the private sector went up by 5% compared to the previous year, driven by fixed term contracts, which grew by almost 9%.   Figures from the Ministry of Labor and Workforce Development (Mitradel) show that in 2016 290,367 new contracts were signed, of which 114,553 were for fixed term contracts, 81,265 were permanent contracts and the rest were for spe...

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Panama: Economic Activity Up 4.6%

Posted on 2017-01-26

The economic activity index recorded an annual increase of 4.6% in November, mainly due to the activities of Trade and Transport and communications.   From a report issued by the National Institute of Statistics and Census:   The Monthly Economic Activity Index (IMAE) in the Republic for January-November 2016, measured in terms of the original series in 199...

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Panama: New rules for Reinsurers

Posted on 2017-01-09

A new law is being prepared that will change the capital requirements and other requirements for granting licenses to reinsurers operating in the country.   The proposal by the Insurance and Reinsurance Superintendency of Panama was revealed weeks after the intervention was ordered into the reinsurer Istmo Compañía de Reaseguros. This process was not the only one in 2016, as ...

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