Potentially - A Walmart Distribution Center in Panama

Photo by Juliette Passer, 2014

Panama reserves supermarket operations for local companies, so there could be confusion over the news report from Prensa.com, which states that "... Through a letter signed by Panamanian President Juan Carlos Varela, a group of businessmen, headed by the general manager of the Colon Free Zone (CFZ), Surse Pierpoint- are seeking to attract the attention of executives at Walmart US to install a distribution center for Latin America in Panama ", indicating the Colon Free Zone (CFZ) as 'the right place'."

The move by entrepreneurs from the CFZ could be understood as a way to bolster their arguments as part of the pressure being exerted on the government for the CFZ to be accorded the same tax privileges as other zones in the country. Beyond this, it is clear that a market opening for Walmart in the large scale retail sector will be on the negotiating table, something which up to now has been rejected.

Severo Sousa, president of the Logistics Business Council, a member of the group of entrepreneurs that is driving the initiative, said "... "I always thought it was a good idea to attract Walmart, to sell them the benefits that Panama has to offer, so that they will set up here, and have it as a flagship company to attract other businesses of this type to the country."

Happy Independence Day, Panama!

Greetings,

The NY-Panama team wishes all our Panamanian friends and associates Happy Independence Day!   We share with you your Panamanian Pride and success. 

Below is an interesting fact about Panama’s independence from Colombia from the Official website of Panama    www.visitpanama.com  

On November 3, 1903, independence was proclaimed in Panama City, a decision that was immediately backed in the rest of the country, and the Panamanian society declared this territory a sovereign independent state under the name of the Republic of Panama. 

The historical document that stated this proclamation, the Declaration of Independence of the Isthmus, was written that historic morning of the third by the very leader of the revolution, José Agustín Arango, to an eminent Panamanian jurist who was a prominent figure in the country's Liberal Party and political life, Dr. Carlos Antonio Mendoza.

Tests with ships to begin on new Panama Canal locks in mid-2015

PANAMA CITY (Reuters) - On Sunday, Panama Canal Administrator Jorge Quijano said the locks would likely be ready, holding water, by April or May of next year.

Photo by Juliette Passer

The 100-year-old canal, which is major global trade artery, is in the midst of a massive expansion that will allow the world's largest tankers to pass through the isthmus. 

Tests with ships will begin in mid-2015 on a new set of locks that are a key component of an expansion of the Panama Canal, the waterway's chief said on Sunday.

The expansion, which involves building a third set of locks onto the 50-mile (80-km) waterway, was originally scheduled to be completed this year, but has been delayed several times, in part due to a dispute earlier this year because of about $1.6 billion in cost overruns.

The deadline for completion is now January 2016.

"We hope to start a series of tests with the locks next year in the month of July or August," Quijano said after overseeing the arrival from Italy of a shipment of four new gates for the locks.

 

PanAmCham’s “Doing Business in Panama” is published!

PanAmCham’s “Doing Business in Panama” is published with my introduction on Panama (I am also the Editor) - great team great product! Email me for your copy and visit with us soon.

PanAmCHam Conference in Panama City, Panama

Greetings,

Updated information on our Conference is below - join us and gt an opportunity to meet some of the new members of Panama's government, who took offices on July 1, 2014. See you in sunny Panama!