Path The Cochea River Canyon, a new attraction in Boquete

Path The Cochea River Canyon, a new attraction in Boquete

By: La Estrella de Panama

The trail is already open to visitors, but its official opening is in April, when the fauna and flora information is completed for signage. 

The interest to know the nature of Panama and the beautiful places of the interior of the country, every time takes more force. This summer a new tourist product is attracting locals and foreigners in the district of Boquete.

This is the El Cañón del Cochea trail, recently certified as safe by the National Civil Protection System (Sinaproc), and whose official opening is scheduled for April 2018, reported the Tourism Authority of Panama (ATP).

The El Cañón trail is located within the Hacienda Los Molinos project, in El Francés. It can take two hours to go through it. However, it is recommended to go with a hotel guide or authorized by the ATP, registering before to make the reservation. "You can not enter the path alone," he said.

Isabella Gormaz, hotel manager, confirmed that it has invested in infrastructure and two viewpoints, one where the visitor does not necessarily have to go down to take pictures of the canyon and another halfway more immersed in nature.

This week the hotel will hold an event to introduce the new product to the Association of Guides of Boquete. Although the trail is already open to visitors, its official opening is scheduled for April when the fauna and flora information is completed for signaling, said the ATP.

According to Gormaz, at the moment they are working on raising fauna and flora with a team made up of biologists, bird specialists and certified guides from Boquete.

The hotel, besides working on the tourism quality certification of the ATP since November 2016, is one of the three hotels nationwide that completed a certification process of hotels prepared on the subject of risk management with Sinaproc. It covered training, training, adaptation of the area and evacuation routes, among others.

According to Gormaz, the canyon has become a very peculiar natural attraction because it is surrounded by vegetation, contrary to the canyons of other parts of the world that are usually arid.

The specialized guide, Plinio Montenegro, explained that El Cañón del Río Cochea is a geological formation of the Barú Volcano - the highest point in Panama - and is located within a rain forest, between the districts of Dolega and Boquete.

On the way to the canyon you can enjoy two beautiful views. One exactly towards the imposing volcano and another towards the Gulf of Chiriqui, in the Pacific.

In the place there are endemic species of fauna and flora. That is, they are typical of highlands. Here you can see migratory species of birds, howler monkeys, cat alone and different types of butterflies, amphibians and reptiles, varieties of trees and plants such as orchids and waterfalls (waterfalls).

To walk the path, the specialist recommended to wear closed shoes, long pants, sunscreen, hat or cap, jacket for rain, repellent, water (1 or 2 liters), walking stick, energy bars, chocolate and have good health and physical condition.

Panamanian and Chinese businessmen will sign memorandum of understanding

Panamanian and Chinese businessmen will sign memorandum of understanding

This rail transport system, which would cover a distance of 450 kilometers in two and a half hours, is part of the initiative of the Strip and the Route, which promotes the geographic and commercial integration of both countries. 

A mission of the business leaders of Qingdao (China) and its Panamanian counterparts today signed a memorandum of understanding at a time when the convenience of building a fast train that crosses Panama to the border with Costa Rica is analyzed with experts from the Asian power.

According to a statement from the Chamber of Commerce, Industry and Agriculture of Panama (CCIAP), the document will be signed by the president in charge of that institution, Gabriel Barletta, and the deputy minister of the Qingdao-China Trade Office, Xu Jian. .

From La Estrella de Panama

Last Friday work teams of the Government of Panama and the People's Republic of China held in the Panamanian Foreign Ministry "the first technical meeting to define the methodology and working mechanism for the feasibility study of the Panama-David train, with which it will support the Asian country. "

The project for the construction of a passenger and freight train between the provinces of Panama and Chiriqui is among the 22 agreements and agreements signed between Panama and China since the establishment of diplomatic relations, 19 of which were specified in the State Visit of the Panamanian President, Juan Carlos Varela, to meet with his counterpart Xi Jinping.

This rail transport system, which would cover a distance of 450 kilometers in two and a half hours, is part of the initiative of the Strip and the Route, which promotes the geographic and commercial integration of both countries.

Currently by motorway the tour takes about six hours. 

Canal Minister and Director General of the Panama Metro, S.A., Roberto Roy and representatives of the Ministry of Commerce of China and engineers of railway companies in that country lead the talks. Qingdao, the fourth most important city in China, sent a business mission to Panama to explore investment possibilities.

On January 31, the Panamanian Government announced the approval of the Civil and Maritime Air Transport agreements that were signed between Varela and Xi last year. The reciprocal recognition of the marine certificates issued by both countries, in addition to facilitating the exchange of information to improve the merchant marine of each one, the traffic rights to open new air routes to and from Panama or China, are part of the pacts.On June 13, Panama established diplomatic ties with China, to the detriment of Taiwan, and the Executive established 12 pillars in the new bilateral agenda, including judicial cooperation, increased tourist exchanges, increased trade and investment promotion. 

The Asian country is currently the second most important user of the Panama Canal, behind the US, and the first supplier of the Colon Free Zone, the largest in the hemisphere, located in the Panamanian Caribbean.

Property Taxes in Panama

Property Taxes in Panama 

Photo from: Living in Panama

Properties with a registered value of $30,000 or lower do not pay property tax. For properties of a higher value, they pay as follows: 

1.75% from $30,000 to $50,000

1.95% from $50,000 to $75,000

2.1% over any property value above $75,000. 

If you buy or build a residential property in Panama, you may be exempt from property tax for up to 20 years if the construction permit is issued by Sept. 1, 2006, and the occupancy permit issued and improvements registered by Sept. 1, 2007. On houses or apartments where the construction permit is issued after Sept. 1, 2006, the following exemptions will apply: 

Value up to $100,000: 15-year exemption 

Value from $100,000 to $250,000: 10-year exemption 

Value over $250,000: 5-year exemption. 

The exemption is transferable during the exemption period to any new buyer. The land itself is not exempted, and would continue to incur property tax if its value is above $30,000.

Information from: https://internationalliving.com/countries/panama/taxes/

Minimum Wage in Panama as of 2018

This is how the adjustment of the minimum wage in Panama was, by economic activity, as of 2018

By: El Capital Financiero, Elizabeth Garrido A.

The new minimum wage rates in Panama, which will govern from January 2018 to December 2019, were published this Wednesday, December 27, 2017 in the Official Gazette No. 28433-A, where Executive Decree No. 75 appears where It details the salary adjustment according to region and economic activity.

The Executive, which fixed the adjustment on December 26 due to the fact that the National Minimum Wage Commission did not reach an agreement on this issue, informed that for the next biannual period an average increase of 6.5% will be in Panama for the large company and 4.5% for the small business.

"The rates set by this decree constitute the minimum remuneration in money that must be paid to the workers and, therefore, modify the lower wages stipulated in any legal or regulatory provision, labor contract or collective agreement," the Ministry of Labor recalled. and Labor Development (Mitradel).

Large and small companies

To differentiate small and large companies, the provisions of Law No. 1 of March 17, 1986 (labor law) will be taken as reference.

Therefore, small companies will be considered "those with ten or fewer permanent or plant workers, in the case of agricultural, livestock or service or retail businesses; fifteen or less in the case of manufacturing companies; and twenty or less in the case of agroindustrial companies. "

"The establishments of sales of banking, financial, savings and credit, insurance and reinsurance policies will not be considered as small businesses; real estate and property management, computer science, advertising, as well as those dedicated to the sale of wholesale merchandise, "said the decree.

The new salary adjustments

The new minimum wage rates vary by region (1 and 2) of the country and economic activity. Region 1 is made up of 37 districts of nine provinces, except Darién, while Region 2 is composed of the rest of the districts of the country.

In region 1 are included: Prov. Of Panama (Panama, San Miguelito, Chepo, Taboga), Prov. Of Panama West (Arraiján, La Chorrera, Capira, Chame, San Carlos), Prov. De Chiriquí (David, Dolega, Boquete, San Felix, Barú, Boquerón, Bugaba), Province of Veraguas (Santiago, Atalaya), Province of Herrera (Chitré, Santa María, Parita, Pesé), Prov. De Coclé (Aguadulce, Antón, Natá, Penonomé) , Prov. Of Bocas del Toro (Bocas del Toro, Changuinola, Chiriquí Grande), Prov. Of Los Santos (Las Tablas, Pedasí, Guararé, Los Santos), and Prov. De Colón (Colón, Donoso, Portobelo, Santa Isabel) .

In region 2, the rest of the districts of the country are included.

Photo from Capital Financiero

Happy New Year!

Happy New Year! С Hoвым годом! 

¡Feliz Año Nuevo!

The Beatles (Juliette’s find at Sotheby’s)

Best wishes for a healthy and prosperous 2018!

Warm regards, Juliette Passer, Esq. and the International Development Team

Christmas Shines in Panama City

Christmas Shines in Panama City

By TVN 

The Mayor's Office of Panama, for this 2017, will be carrying out a series of activities so that all residents of the capital are filled with the Christmas spirit and for them has increased the coverage of the Christmas lighting better known as "Brilla la Navidad", and added thirteen new points.

The Francisco Arias Paredes park, located between Avenida Cuba and Avenida Peru, diagonal to the Hatillo building and eighteen points of the city have been decorated with this lighting that cost $ 2.2 million to give the capital a Christmas atmosphere.

The other points that were decorated are the Cinta Costera, Sabores del Chorrillo, Plaza Catedral, Plaza Francia, Plaza Bolívar, Plaza Herrera, Santa Ana Park, Plaza Porras, Parque Heliodoro Patiño in Juan Díaz, Avenida Manuel Espinosa Batista, Federico Boyd Avenue, Del Causeway Children's Park, Urracá Park, Costanera Avenue, Francisco Arias Paredes Park, Ecuador Avenue and entrance hall to the Casco Antiguo.

This year the snowfall returns to the park Heliodoro Patiño and Parque Porras. The lighting has LED technology with low energy consumption. For these facilities, the Mayor's Office of Panama has worked in a planned manner and taking care of all the details of the lighting so that thousands of people enjoy it.

The National Ballet of Panama will present the Christmas work El Cascanueces in Parque Urraca on Saturday, December 23 at 6:30 p.m.

By Municipio de Panama

The festivities will come to an end on Saturday, January 6 when the Magi come to the Cathedral Square in the Old Town at 6:30 p.m. for the delight of children. On Sunday 7 there will be a walk in the Cinta Costera at 8:00 a.m.

There is a lot to do during the end of the year parties, so do not miss the free activities organized by the Mayor's Office of Panama. For more information visit navidadenpanama.com.

The Panama Canal records record tonnage in fiscal year 2017

The Panama Canal, driven by the additional capacity offered by the expanded highway, registered a record annual tonnage at the end of the fiscal year 2017 (FY 2017) with 403.8 million tons of CP / SUAB (volume measurement of the Universal System of Tonnage). Vessels of the Panama Canal), which represents an increase of 22.2% compared to the previous year.

Picture by Canal de Panama

With this figure, the Panama Canal exceeds the 399 million tons of CP / SUAB projected for FY 2017, as well as the tonnage of FY 2016, which closed with 330.4 million tons of CP / SUAB.

Toll revenues and other maritime services totaled B / .2,691 million, an increase of 14.3% compared to the previous year.

"It was a record year beyond expectations," said Panama Canal Administrator Jorge Luis Quijano. "This figure reflects once again the commitment of the Panama Canal to provide greater revenues to the country, with an efficient, safe and competitive operation for our customers."

In total, including the operation of the panamax and neopanamax locks, 13,548 transits were reached through the Panama Canal, that is, an increase of 3.3% in the balance with FY 2016.

Results by segment

Container ships remained the segment with the greatest impact on the interoceanic route, contributing 143 million tons during FY 2017, which includes 89.1 million tons from the expanded Canal.

In order of importance, tanker ships followed - including liquefied petroleum gas (LPG) and liquefied natural gas (LNG) ships - with 105 million tons, bulk carriers, with 79 million tons, and carrier carriers, with 47 million tons of tons.

Main routes and users

In FY 2017, the main routes through the Panama Canal were between Asia and the East Coast of the United States (34%), West Coast of South America and the East Coast of the United States (13%), West Coast of South America and Europe (7%), west coast Central America and the east coast of the United States (7%) and intercostal South America (5%).

68.3% of the cargo that transited the Canal originates or is destined for the United States.

The main users of the interoceanic route were: the United States, China, Chile, Japan, Mexico and Colombia.

The 2017 fiscal year of the Panama Canal began on October 1, 2016 and ended on September 30, 2017. This is the first full fiscal year with the Canal expanded in operation.