Isthmian Update |
Some of the news in Panama |
Financing Canal enlargement
A total of 100 executives of financial institutions
of the US, Asia, Europe and America met in New York, to receive
information on the advances in the program of enlargement
of the Panama Canal. The administrator of the Canal, Alberto
Aleman Zubieta, emphasised the financial perfomance of the
interoceanic waterway which is free of debts and whose profits
will reach US$1,700 million in 2007.
In statements published in "La Prensa", Aleman
Zubieta said that "it is the first official approach
to the international financial market and therefore it was
decided to begin in New York, one of the main financial centers
of the world".
The European Investment Bank has made an offer to finance,
with 500 million euros, part of the foreign debt of the Canal
expansion. This was announced by the chargé d’affaires
of the European Commission in Panama, Tomas Abbey.
Who will get Noriega
The former presidential candidates, Guillermo Endara
and José Miguel Aleman had lunch with US ambassador,
Willian Eaton, and told him that former general Manuel Antonio
Noriega should be sent to Panama to serve his prison sentences.
Endara said that those who fought the military regime of Noriega
hope to see him behind bars in a Panamanian jail.
Meanwhile, in Miami, Noriega’s lawyers
filed a "hábeas corpus" action to impede his
extradition to France and they denounced the existence of a
"conspiracy" to avoid his return to Panama. A source
mentions that "Statements of the French ambassador to Panama,
Pierre Henri Guignard, provide a reason to believe that the
extradition of Noriega is pay-off for a contract of US$300 million
for France to sell trains to Panama.
Preferential Mortgages
The newspaper "La Critica" reported that
the private construction sector has asked for the re-evaluation
of the Law of Preferential Interests for mortgage loans on new
houses and its prossible increase from US$62,500 to US$80,000.
In Panama City at present 170 buildings are under construction,
120 plans are approved and 90 are waiting for approval for an
investment of over US$1,100.000.000.00
Bird flu precautions
Due to the warning of bird flu internationally, the
Ministry of Health (Minsa), with other State institutions, are
preparing plans for training in hospitals to make sure health
personnel are prepared should an outbreak occur here.
Boca la Caja marine project
After the decision of the Supreme Court allowing the
filling in of around 17 hectares of marine coastline off the
suburb of Boca la Caja, the company, ICA Panama, asked authorization
from the government to begin the work. The company plans a project
of three peninsulas.
Panama - Colón freeway progresses
The Foreign Minister and first Vice President, Samuel
Lewis Navarro, inspected the construction of the Panama-Colon
freeway, where some 10 kilometers have been cut. He was accompanied
by Colon businessmen and authorities.
|
Bid to help land titling
The Inter-American Development Bank (BID) announced
the approval of a loan of US$27 million for a program in Panama
to modernize its land management. The loan will improve the
administration of land in the metropolitan area of the country,
in which the majority of residents lack a title on their properties.
More IFARHU
scholarships
The Cabinet authorized the dusbursement of US$15.8
million for education health and infrastructure. At the meeting,
the ministers authorized an extraordinary credit of US$6.9 million
for the Institute for the Formation and Use of Human Resources
(IFARHU) to give sholarships to some 18,837 students.
Social Security sells
lands
Even the Social Security fund (CSS) has got into the
real estate "boom". They initiated the process of
selling at least US$200 million in lands. At present the CSS
holds lands valued at US$500 million, explained Eduardo Carrasquilla,
national director of income of the CSS.
Luxury prison cells
Officials of the Anti-Corruption debt discovered that
some criminals at La Joyita (the Little Jewel) prison are housed
in "luxury cells" complete with the latest electronic
gadgets.
The third anti-corruption
prosecutor, Yolanda Austin, is interviewing officials of the
prison, including police and civil authorities, to give statements
on the crime of "acting against the public administration"
The names of those involved were not revelaled.
Forum on Mega Projects
A business forum "Mega Projects in Panama"
will be held in Panama City August 25 and 26 to advise on the
business that will grow out of the international trade agreements
and the enlargement of the Canal. Businessmen will meet with
members of the Panama Canal Authority (ACP), the Special Panama
Pacific Economic Area (Howard), the Embassy of Taiwan and representantives
and students of the private and state universities.
Drug trafficing
More than 500 delegates registered for the II International
Congress of Prevention of Drug Trafficking, Money, Laundering
and Terrorism this week to analyze the actions of drug terrorists
in Colombia, its impact on the area and the demobilization of
the insurgent groups.
Bio fuel plant
The agreement to install a bio fuel plant in Panama
will occupy a great part of the agenda of the president of Brazil,
Luiz Inacio da Silva, on his visit to Panama, Lula was scheduled
to arrive this week. His visit will help to establish commercial
links between Brazilian and Panamanian businessmen.
Canal security
Panamanian security forces carried out land exercises
as a prelude to the multinational operation in which troops
of 20 countries will participate. The operation, called Panamax
07, plans to identify any threat to the security of the Canal.
After that, the participating troops will request aid from the
Organization of American States and the Security Council of
the United Nations.
|
Growing economy stays
in the headlines
Economic growth continues to provide
headlines in Panama’s daily newspapers. The economy
continues its rapid growth. From January to May the Monthly
Economic Activity Index (IMAE) rose 8.42% compared to
7.19% for the same period last year.
The Colon Free Zone is an important
contributor. The accumulated commercial activity for January
to June of 2007 registered a total of US$7,288.9 million,
equaling growth of 12.5% in relation to the same period
of the previous year.
La Estrella reported that Panama is
on the way to becoming one of the main centers of refining
and distributing fuel. The Vice-minister of Domestic Trade,
Manuel José Paredes, confirmed that four mega projects
with a total planned investment of US$ 30,000 million,
are being considered. Meanwhile, power company Elektra
Northeastern announced that they need to find about US$7
million for the purchase of energy for remote systems
to supply electricity to different regions of the country,
where currently the demand has increased.
And at the ports the movement of containers
of 20 feet equivalents, known as TEUs, reached an important
increase of 45.1% in the first six months of 2007. |
|
|
Third lane "unsafe alternative"
The elimination of the "shoulder" of the
marine section of the Southern Corridor Expressway - to add
a third lane - is described as an "unsafe alternative"
by the Road Commission of the Panamanian Society of Engineers
and Architects (SPIA). Ulises Lay, a member of the commission,
said they concluded that the lack of the "shoulder"
for emergencies is a danger.
Bocas unemployment rises
The unemployment in the province of Bocas del Toro
has increased from 9% to 12.5% as a result of the recession
in the commercial sector and the suspension of construction
work. This was announced by the president of the Chamber of
Commerce, Agriculture and Industries, Venancio Caballero.
Minimum wage
In discussions on the minimum wage, the unions suggest
that zonings be eliminated so that all workers whether in the
capital or the interior of the country are paid the same minimum
wage.
|
PTP sued again
Another law suit has been filed against Petroterminal
de Panama (PTP) over the crude oil spill in La Laguna of Chiriquí
Grande. The Eleventh Circuit Court, Civil Branch, accepted a
new suit for US$325 million, plus expenses, interest and costs
in a process started by lawyer Ricardo Vial, representing fishermen
and merchants of Chiriquí Grande.
No phone tapping
The full Supreme Court decided to declare as unconstitutional
the "telephone tapping" ordered by the Attorney General,
Ana Matilde Gómez. The presiding judge was Winston Spadafora,
and the voting was seven in favor and two abstentions.
Beach lands up for bid
El Siglo reported that, with an approximate price
of US$4 million, a public tender will be carried out on two
ocean front farms of 154 hectares for tourist development in
the distric of San Carlos, province of Panama. The report did
not specify the name of the seller.
|
USA denied entry visas to Panamanian
basketball players
The U.S. Consulate has denied entry visas
to the technician Vicente Duncan and six other players
of the Panamanian basketball team. They were scheduled
to participate in the Pre-Olympic Tournament of the Americas,
which will take place in Las Vegas, from August 22 to
September 2.
The visas were denied, because the sportsmen
could not offer a proof of their economic solvency, and
this is one of the requirements to enter the United States.
The Las Vegas Tournament is crucial because it will give
three direct places to the Olympic Games in 2008.
The Panamanian basketball players presented
to the U.S. consulate documentation from the USA Basketball
and the "Federación Internacional de Basketball"
(Fiba-America), which said that the players have been
selected to play on the Tournament and that they will
take care of their expenses while in the United States.
Additionally, Miguel Sanchíz,
president of the Panamanian Basketball Federation, said
that he showed the U.S. consulate official a photocopy
of a cheque for $1,000 for each of the players to cover
their expenses.
The American consulate made no comment
regarding this matter. |
|
|
Central Avenue debate
El Siglo reports that the consultations on the subject
of the pedestrian walkway of Cental Avenue still continue. There
have been several proposals presented, mostly directed to it
being a tourist attraction. The strongest proposal is a system
of trolley cars that existed years ago, which, according to
the director of the Office of Casco Viejo (Old City), Ariel
Espino, is already being studied by engineers and specialists
of a Spanish consortium.
Cargo scanners installed
Two X-ray machines are being installed for checking
incoming cargo at the ports of Balboa and Colon. The scanners,
were donated by the American government.
Canal Surpluses for poverty eradication?
Calculations of the Panama Canal Authority (ACP) indicate
that from now until 2025 surpluses of Canal revenues will reach
US$29,000 million, almost twice the total public debt of the
country. The central objective of the dialogue of "National
Coordination" called by president Martín Torrijos
in the context of the referendum for the enlargement of the
Canal last year was how to use these resources to overcome poverty
which affects about 40% of the population.
|
Customs collect more
In the first seven months of this year, the Customs
Department has collected US$295.8 million, 31.3% more than in
the same period of 2006 when US$225.2 million was collected.
Reservation lands compromised
Despite Law 10 of March 7, 1997 creating the Ngobe
Buglé Indian region, prohibiting the private appropriation
of the regional lands under any title, the leadership of this
native sector has "negotiated" land with foreign investors.
The information came to public notice after various native Ngobes
discovered a secret cooperation convention and tourist concession
in the Reserve Ño Kribo between its leaders and the Damani
Beach Panama consortium. According to a report in the Panama
America.
GDP rises
The Gross Domestic Product (GDP) during the first
quarter of 2007 reached a growth rate of 9.4%, equivalent to
US$3,981.0 million in real terms, exceeding that of the same
period last year, indicates an Economic Report of the Ministry
of Economy and Finance.
|
|
| |
| |
| |
More inspectors for the construction industry |
Around 40 new inspectors will be appointed by the Labor Ministry
to inspect construction sites around the country and they will have
to make sure that all the security measures are in place.
During the first seven months of 2007, the death toll rose to 17,
after four workers lost their lives in a project of the construction
company Corcione S.A., in the San Francisco area of Panama City. The
men were buried alive by a mud avalanche.
Further investigation uncovered that the engineers in charge of the
site were negligent for not putting in place security measures to avoid
the tragedy. The company was given a fine of $100,000 and all the construction
works were suspended until further notice.
The secretary of the Construction Workers Union (SUNTRAC), Genaro
López said that the accidents happened because the companies
do not apply the necessary security measures, and the lack of government
supervision. He asked for new legislation to be put in place to avoid
these tragedies. |
| |
| |
| |
IPAT promotes national tourism |
The Panamanian Institute of Tourism (IPAT) is taking national journalists
to tour different provinces in Panama with the aim of introducing new
tourist destinations. This is part of an strategy to incentivate internal
tourism.
July was dedicated to the regions of Azuero and Chiriqui with visits
to Iguana Island, La Villa de Los Santos, Pedasí, Playa Venao,
Volcan and Boca Chica among others. More trips of this type are planned
for the next few months. |
| |
| |
| |
Costa Rica boundary dispute |
Trouble seems to be brewing on the frontier between Panama and Costa
Rica. Residents of Costa Rica have accused Panamanians of moving the
boundary markers eight meters into Costa Rican territory.
This infringement of land is particularly bad in the Paso Canoa area,
where some Panamanians have built right on top of the border line, touching
Costa Rican soil. The last boundary quarrel led to the Hundred Days
War. Let’s hope the matter can be settled in a more amicable form
this time around. |
| |
| |
| |
Social Investment Fund investigating construction companies |
Some construction companies have overstretched themselves by taking
contracts that surpass their operation’s capacity, was the finding
of the Social Investment Fund (FIS).
The FIS announced that it will start claiming back the completion
bonds of at least 15 constructions companies, which failed to develop
projects like roads, schools, sports grounds and verges. They will execute
the bonds in all cases, because those companies have the responsibility
to complete the jobs they were hired to do.
To date the FIS has claimed $1.5 million from three companies. However,
it decided not to divulge the names due to pending legal proceedings.
Investigations by the Social Investment Fund found that one construction
company which managed to win nine projects by bidding, did not have
the necessary equipment to complete the works on time.
The FIS has invited all the companies under investigation to a meeting,
to review each one of their cases, before further action is taken. |
| |
| |
| |
Copa to Trinidad in December |
Copa Airlines announced that it will offer a new service from Panama
and other connecting cities in Latin America, to Port of Spain, in Trinidad
and Tobago, from December 15, 2007.
There will be four flights per week departing from Tocumen at 12:10
p.m.
Trinidad y Tobago, is a nation where the oil sector and investments
are growing. It is also considered a tourist paradise. |
| |
| |
| |
David Airport to get new restaurant
A new restaurant is planned for the Enrique Malek International
Airport at David. No details were available at press time but
apparently the well-known restauranteur, Mr Bernard Bahany,
formerly of the Pargo Rojo restaurant, in Bocas del Toro, is
involved. |
|
| |
| |
| |
Internet ease offered in dealings with government |
The new electronic system of Panamanian Government, "Panama
Emprende"
(www.panamaemprende.gob.pa)has managed to captivate the interest of
foreign investors and revolutionized the way of creating a business.
It is a new virtual-commercial tool that reduces the bureaucratic processes
of opening businesses. This new tool began to operate on July 11 and
after eight days online it received 271 requests and payments for new
businesses.
Other tools already operative for this electronic system are "Panama
Tramita"
(www.panamatramita.gob.pa), that integrates most of the processes of
several entities of the government online, in order to make them easier
and faster for citizens.
"Panama Compra" (www.panamacompra.gob.pa), the electronic
system for public contracting for the projects and equipment required
by the government.
"Sígueme" (www.contraloria.gob.pa/SicoGerencialBeta/reportes/pgSigueme.aspx),
is an electronic management files system that provides information about
any public document of government entities. |
| |
| |
| |
Executives celebrate Home Port deal |
From left to right: Steve Tarazi of Colon 2000, Adam Goldstein, president
of the cruise lines, Royal Caribbean International and Augusto Terracina,
of Colon 2000. These executives celebrated the launching of the Colon
Port as the "home port" of the Royal Caribbean line. This
will bring more tourists to the country, creating more jobs and will
give economic impulse to the hotel industry. The vessel, "Enchantment
of the Seas" can carry 2252 passengers and is a floating palace. |
| |
| |
| |
National Assembly accused of illegal land sale |
Environmentalists are accusing the government of illegal sale of
land
The sale of 15.1 hectares of forests, located in Clayton, Panama City,
inside the National Park Camino de Cruces, by the Panamanian National
Assembly, has provoked the anger of residents and environmentalists
alike.
The land was sold at auction for more than $13 million and the successful
bidder was a company called Eyas Mazal Tov S.A. The Panamanian Ecologist
Association is accusing the government of breaking the laws which protect
the Camino de Cruces National Park . |
| |
Hide/ Ocultar
![[ Map ]](javascript:Start('../Visitor11-16/Img11-16/mapa11-16.jpg', 950, 419)){kind=link}