News
New tourism fair begins
Expo Turismo Internacional Fair at ATLAPA in October
Annete Cárdenas is the Director of Marketing for Marriott Hotels and Resorts Panama.
She was recently elected president of CamTur. Cárdenas says that working in the world
of tourism is a joy because each day is filled with interesting people from all over the world.
She is excited to be a part of this important and exciting time in Panama's history as the tourism
industry joins the Panama Canal as a top income-producer for the nation.
An important new tourism fair will begin this year in Panama. The Tourism Chamber (CamTur) and the Chamber of Commerce will jointly sponsor the event to be celebrated in October. According to Tourism Chamber president Annette Cárdenas, the fair will be called Expo Turismo Internacional and this first year will set a precedent for an exciting yearly tourism fair in Panama. She told The Visitor: "We are combining the know-how of the Chamber of Commerce - which organizes the giant ExpoComer each year, with the special expertize of CamTur."
Other countries in the region will also be invited to showcase their offer alongside Panamanian tourism products at the fair which will take place at ATLAPA Convention Center in Panama City on October 7 and 8. A high-profile marketing campaign will be carried out to assure great attendance to the event. The three main groups that Expo Turismo organizers are targeting are: incentive tourism promoters, wholesale buyers and convention/congress organizers.Booths are still available for $1,000 and $1,200 to participate in the fair. Cárdenas urges interested parties to "inquire about this opportunity to promote, position and make alliances for their businesses." Write expoturismo@panacamara.org or visit www.expotur.org for more information.
Ministry of Commerce launches faster, streamlined business processes
By Jacob Ehrler
Vice Minister of Foreign Commerce José Domingo Arias explains the new Panama Trade and
Investment Agency to foreign and national press. El viceministro de Comercio Exterior José Domingo Arias
explica la nueva Agencia de Atracción de Inversiones y Promoción de Exportaciones de Panamá.
The new Panama Trade and Investment Agency, created by the Ministry of Commerce and Industries (MICI), was announced earlier this week. Before a large audience of business executives, foreign ambassadors, politicians and a delegation from Holland, the Vice Minister of Foreign Commerce, José Domingo Arias, explained how Panama is entering the "big leagues" to attract and facilitate foreign investment: a "one-stop-shop" (sistema integrada de información) for investors and a new paperless export process.
The new agency concentrates on four kinds of businesses that are important for the growth of Panama's economy: tourism, logistics, financial services and agriculture. The one-stop-shop will involve all of the government entities and create a simplified process so that investors can concentrate on their business instead of the often-tedious task of setting up in a foreign country. The MICI will soon announce a new web portal where local exporters will be able to use a new, paperless exportation process.
A pilot program has also been created to form strategic alliances between Panama and the embassies in Washinton, D.C., Singapore and Rotterdam, Holland in order to facilitate the exchange of information that will lead to better business practices. Vice Minister Arias closed his statements by summing up the MICI's vision for how Panama will fare in global economics: "Instead of a world where the big fish eats the little fish, we want to create a business climate where the fast one eats the slow one." Visit www.mici.gob.pa for more information.
Isthmian Update
Some of the news in Panama
Public debt grows
Panama's foreign debt, which accounts for 89.5% of total public debt has grown over the past five years by 33% to $10.1 billion in November 2009, compared to $7.58 Billion in November of 2005 according to the Department of Public Credit of the Ministry of Finance.
Gas prices up
This week gasoline prices rose between $0.16 and $0.20 a gallon for both 95 and 91 octane. With West Texas Intermediate Oil at $80 a barrel, some industry officials are predicting an eventual return to $4 per gallon gasoline.
Tax treaty with Canada
Panama's ambassador to Canada, Francisco Pedreschi, spoke to the Committee on Foreign Affairs of that country's Legislative Assembly about a possible tax treaty with Canada. Panama would like to enlist Canada's support in getting off the tax haven "blacklist" of the Organization for Economic Cooperation and Development (OECD).
Ten years with the Canal
President Martinelli spoke about the ten year anniversary of Panamanian management of the Panama Canal. The president remarked on the efficiency of Canal operation by the Panama Canal Authority (ACP) and spoke of the pride that Panamanians have in the Canal's efficient operation. Martinelli attributed the smooth transfer of control to the professionalism of the staff involved in the transfer. The canal has been under Panamanian sovereignty since December 31, 1999.
Presidential airplane
from Taiwan
Government approval of the purchase of a jet for presidential use and for use in social assistance is moving along. The National Economic Council approved the Civil Aeronautics Authority's use of $22 million to buy the jet. Now the authority can sign a contract with Embraer for the jet. Taiwan is contributing $7.5 million at this time. Although the Taiwan government has promised $22 million, it will be paid in installments.
Last contract for excavation of the "Third Lane"
The consortium FCC-ICA-Meco yesterday received the contract for the fourth and final phase of dry excavation for the Pacific access channel of the Panama Canal Expansion. The consortium needs to deliver a bond and proof of insurance to the Panama Canal Authority (ACP) after which ACP will issue the order for work to begin.
More help with electric costs
The government allocated $20.4 million more for the Tariff Stabilization Fund (TEF), a grant meant to ease the impact of rising fuel prices on electricity. The brings the total allocation from $43.6 million in 2009 to $64 million in 2010.
Keeping convicts in
The Minister of Government and Justice, Jose Raul Mulino, ordered the construction of new perimeter fencing at the high security prisons of La Joya and La Joyita without getting the contract endorsed by the Comptroller. Mr. Mulino justified his action as a matter of national security. The contract was for $3.3 Million with the Israeli company Mer Security & Communication Systems.
Good relations with USA
Panama's ambassador in Washington, U.S., Jaime Aleman, stated that "good relations" are maintained by the administration of President Ricardo Martinelli. A result is the increase in US aid in fighting drug trafficking from $4 to $22 million. A recent visit by a US congressional delegation is also viewed as a result of strengthened ties.
Must stop prospecting
Cuprum Resources Corp. must stop its search for gold and other metals in five areas of the Ngobe Bugle Indian region and in the province of Chiriqui. The ruling of December 24, 2009, under Judge Victor Benavides in the Third Chamber of Administrative Litigation of the Supreme Court, orders the temporary suspension of contract N ° 006 of February 16, 2006.
Taiwan helps with a hospital
Panama will receive another donation from Taiwan, this time for $25 million to build a hospital in the area of Chilibre and Summit. The announcement was made by Foreign Minister Juan Carlos Varela, who said that this fund will be used to start the construction of the "Panama North Hospital". It will be transferred to the Ministry of Health.
First metro route
The government revealed that the first metro route will be from the Los Andes area of San Miguelito to the National Transport Terminal in Albrook according to Robert Roy, secretary of the Metro. The route will pass through San Miguelito up to Pueblo Nuevo, Fernandez de Cordoba and Via España, opposite the Del Carmen Church.
Drug totals
During 2009, Panama seized 54.3 tons of illicit substances and more than $11 million cash according to Drug Prosecutor Javier Caraballo. Nevertheless, Mexican drug cartels operating in Panama were still active in the later part of 2009 according to a report of Mr. Caraballo's department.
Yes, we have no potatoes
Panama temporarily suspended imports of fresh potatoes, or chilled potatoes from European countries for human consumption according to the Panamanian Authority for Food Safety (AUPSA). This is because of an alert of "soft rot" in these potatoes.
International food fairs
Starting in March, Panama will participate in over 12 international fairs in 2010 to promote trade in food. Although not official yet, the budget for this initiative will be a joint effort between Panamanian exporters and the government
U.S. Free Trade
Agreement status
Everything indicates that the Trade Promotion Agreement between Panama and the United States will not be ratified this year. It is not on the agenda of the U.S. Congress. However, Panama's Ambassador in the U.S., Jaime Aleman Healy, said talks are to be included on the agenda.
Only yellow taxis
President Martinelli denied any further extensions or subsidies for taxi drivers who failed to paint their cars yellow before the final deadline of January 1. Taxis in Panama are now all yellow.
Increased unemployment
According to a survey by the International Labor Organization in 12 of 14 Latin American countries, the economic crisis has claimed 2.2 million jobs. Unemployment in Panama rose, according to the survey, from 5.6 % to 6.6 % from 2008 to 2009.
No flu shot for the president
President Ricardo Martinelli recently declined vaccination against influenza AH1N1. Upon arrival of the vaccination at the Ministry of Health (MOH) in Ancón, the president said he would not get vaccinated because the people must come first.