Real Estate News

Panama to Maintain Growth Amid Crisis, Torrijos Says

Source:, Dec 10, 2008

Panamanian President Martin Torrijos said his country will maintain high levels of growth and a low jobless rate next year even as the credit crisis triggers a worldwide economic slowdown.

The Central American country's economy will probably expand between 6.5 percent and 8 percent in 2009 and 9 percent this year, Torrijos said in an interview with Bloomberg Television today in Panama City. The U.S. recession won't impede financing for his government's $5.2 billion project to expand the Panama Canal, he said.

Leaders of Multilateral Agencies and The Panama Canal Sign Agreement for $2.3 Billion to Finance The Canal Expansion Program

Source:, Dec 9, 2008

Amid a strained and uncertain global economy, one historic construction project continues to reinforce Panama's economic growth and political stability: the expansion of the Panama Canal. Today, on the heels of Panamanian President Martin Torrijos' recent expansion financing structure announcement, senior leaders of five multilateral and development agencies convened at Panama's Ascanio Arosemena Theater with Canal officials to sign an agreement on the financing for the waterway's expansion.

"The geographic diversity of the offers and the high profiles of the institutions, demonstrate the international market's trust and confidence in the high-growth performance of the Panamanian economy and the successful management of the Panama Canal," said ACP Administrator/CEO Alberto Aleman Zubieta.

Panama replicates Singapore's experience

Source: The Panama Post, Dec 8, 2008

Law for multinationals regional headquarters makes Panama the Singapore of Latin American.

For more than 20 years, businessmen, bankers and economists have been promoting in Panama, the model of economic development carried out by Singapore, which has turned it into a logistics world power.

Law 41 of August of 2007, Special Regime for the Establishment and the Operation of Headquarters of Multinational Companies (SEM), which stimulates the establishment in Panama of multinational companies, reinforces the geographic location of the country as a center of commerce, logistics, banking and security.
A year after the SEM went into effect, results are flattering. Companies like Caterpillar, Procter & Gamble, Roche, Maersk, Inelectra and Sinopec, decided to locate their regional offices in Panama and to take advantage of the incentives of the special regime.

Brazil interested in producing solar panels in Panama

Source:, Dec 7, 2008

The Secretary of Energy and Minister for Canal Affairs, Dani Kuzniecky, confirmed yesterday to DPA the interest of Brazilian firms in producing low-cost solar panels on Panamanian territory, using photovoltaic power. Kuzniecky revealed that government representatives began discussions with Brazilian companies for the exploration of the production and sale of modules that use energy from solar radiation.

WyndHam Hotels and Resorts Opens First Hotel In Panama

Source:, Dec 6, 2008

The Wyndham Hotels and Resorts brand will fly its first flag in Panama with the conversion of the five-star, 301-room Veneto Hotel & Casino in Panama City to The Veneto, A Wyndham® Grand Hotel. Peter Strebel, Wyndham Hotels and Resorts president, said the introduction of the Wyndham brand in Panama is part of the brand's strategy to pursue flagship Wyndham hotel properties in key international and gateway cities.

Panama Canal, Miami Port ratify strategic alliance

Source:, Nov 27, 2008

Panama Canal and the United States' Miami Port have renewed their strategic alliance in a bid to boost international trade, the administrator of the Panama Canal Authority, Alberto Aleman Zubieta, said.

Miami Port, an internationally recognized trade center, is a key ally of the Canal, Zubieta said after signing a memorandum of understanding with the director of Miami Port, Hill Johnson.

The Panamanian airline Copa announces new flights to Bolivia and Venezuela

Source:, Nov 18, 2008

The Panamanian airline Copa Airlines announced it is preparing to implement regular flights to three new destinations in Bolivia, Venezuela and the island of Aruba.

Meeting of Latin American bankers in Panama

Source: The Panama Post, Nov 17, 2008

The operational banking and financial institutions and the situation faced by Latin America with the world economic and financial crisis are the subjects that will be discussed in Panama the representatives of the banking associations.

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