Panama, Feb 21 (Prensa Latina) Panama got more than 2.4 billion dollars last year through foreign investment, more than twice that of 2005, Panamanian Ministry of Trade and Industry reported on Wednesday.
Julio Fabrega, director of Investment Promotion in the Ministry said the gains were made by virtue of the government plan to attract investments by focusing on tourism, transportation, logistics, agriculture and sea resources.
He considers that the expansion of the Panama Canal will allow great investments from several countries, mainly the US and Europe.
The Panamanian economy has had high economic growth in recent years, due to construction and real estate development, the Panama Canal and the banking sector. The Ministry of Economy and Finance announced some days ago that for the first time, the non-financial public sector achieved a profit of 88 million dollars in 2006. Nevertheless, despite the growth of the Panamanian GDP, nearly 40 percent of Panamanians live in poverty.
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Showing posts with label Panama Canal authority. Show all posts
Showing posts with label Panama Canal authority. Show all posts
Wednesday, February 21, 2007
Saturday, February 17, 2007
Is Panama City The Next South Beach?
This news its from the Washington Post Online
By Ceci ConnollySpecial to The Washington PostSunday, February 18, 2007;
It was sticky hot, and I was grungy after a morning exploring the cobblestone passageways of Panama City's Casco Viejo, a 300-year-old cross between the crumbling charm of Old Havana and the restored glow of New Orleans's French Quarter.
In my baseball cap, khaki shorts and sweaty T-shirt, I was dressed for a sidewalk hot dog stand. But a Panamanian friend had been raving about S'cena, the new Mediterranean restaurant in this colonial-era part of town, and when I stumbled upon its entranceway, it seemed the food gods were summoning me.
Still, I felt a little sheepish as I passed the first-floor jazz bar and stepped into a scene of sophisticated serenity: white tablecloths, fresh flowers and waiters in pressed shirts. I braced myself for dirty looks and a dreary table near a swinging kitchen door.
Instead, the owner greeted me like a lost cousin, whisking me to a prime table and gently draping a linen napkin across my lap. And apparently I wasn't the only one getting VIP treatment. They were calling the guy in the next room "Mr. President."
"No, no," the waiter whispered, "it is the president -- of Panama."
Somehow, it all made sense. After just a few days in Panama, you start to recognize faces, and the prospect of sipping a midday chardonnay a few feet from the country's most powerful man doesn't seem so far-fetched.
I had seen ads touting Panama City as the next super-swanky Miami, and I was prepared for velvet-roped lines and South Beach-style snobbery. Heck, Jenna Bush was clubbing here just before I arrived. So not having to deal with a waiter with an attitude was a relief.
But I can see why it gets the Miami comparisons. The city tucked on Panama Bay offers a hip urban vibe and a distinctive skyline. It has sunshine, seafood and shopping opportunities galore. And although Panama is part of Central America, its rhythm and stylish Latin inhabitants have a Caribbean flavor.
There are notable disappointments. Panama's tourism industry sometimes struggles to meet the demands of travelers. (The man at the Avis counter had no idea how to get downtown, and cabdrivers were no better.) And though the country has many exquisite beaches, none is within walking distance of the hotel strip as in Miami's South Beach.
But ultimately, the beauty of Panama City is that it hasn't become Miami yet. It's much more welcoming and manageable. And now is the time to go -- before the Panama Canal gets its third set of locks, before Donald Trump finishes his 65-story tower and before the prices shoot just as high.
Even today, 93 years after completion, the Panama Canal is an awesome engineering feat, guiding ships the 50 miles from the Caribbean Sea to the Pacific Ocean.
We arrive at the Miraflores Locks and head to the outdoor viewing deck. The sight of 965-foot-long behemoths squeezing through the canal is unbelievable, the precision timing of the locks a marvel. Over a loudspeaker, a bilingual guide rattles off canal stats and fun facts. "The lowest fee ever assessed for passage was 36 cents," he says. "It was for Richard Halliburton to swim the canal." An impressive museum inside is complete with a simulator that gives a realistic sense of what captains experience as they navigate the narrow locks.
The next day, while Manuel works, I ask my cabdriver to drop me at the Plaza de la Independencia in the center of Casco Viejo. The modest square looks much as it did 100 years ago: narrow one-way streets, stone edifices and a few rusty cannons.
On the corner is a lovingly restored four-story colonial built by the French in the 1870s and now home to another canal museum. At one-fifth the price and almost empty, it is a much better deal than the locks museum.
The story of the canal -- from the failed effort by the French in the 1880s to current widening plans -- is presented in bright, colorful interactive exhibits. There's a full recounting of the 22,000 workers who died, most by malaria or yellow fever, and a sobering account of the segregated system that left dark-skinned workers with less money in their pockets at the end of each workday.
By Ceci ConnollySpecial to The Washington PostSunday, February 18, 2007;
It was sticky hot, and I was grungy after a morning exploring the cobblestone passageways of Panama City's Casco Viejo, a 300-year-old cross between the crumbling charm of Old Havana and the restored glow of New Orleans's French Quarter.
In my baseball cap, khaki shorts and sweaty T-shirt, I was dressed for a sidewalk hot dog stand. But a Panamanian friend had been raving about S'cena, the new Mediterranean restaurant in this colonial-era part of town, and when I stumbled upon its entranceway, it seemed the food gods were summoning me.
Still, I felt a little sheepish as I passed the first-floor jazz bar and stepped into a scene of sophisticated serenity: white tablecloths, fresh flowers and waiters in pressed shirts. I braced myself for dirty looks and a dreary table near a swinging kitchen door.
Instead, the owner greeted me like a lost cousin, whisking me to a prime table and gently draping a linen napkin across my lap. And apparently I wasn't the only one getting VIP treatment. They were calling the guy in the next room "Mr. President."
"No, no," the waiter whispered, "it is the president -- of Panama."
Somehow, it all made sense. After just a few days in Panama, you start to recognize faces, and the prospect of sipping a midday chardonnay a few feet from the country's most powerful man doesn't seem so far-fetched.
I had seen ads touting Panama City as the next super-swanky Miami, and I was prepared for velvet-roped lines and South Beach-style snobbery. Heck, Jenna Bush was clubbing here just before I arrived. So not having to deal with a waiter with an attitude was a relief.
But I can see why it gets the Miami comparisons. The city tucked on Panama Bay offers a hip urban vibe and a distinctive skyline. It has sunshine, seafood and shopping opportunities galore. And although Panama is part of Central America, its rhythm and stylish Latin inhabitants have a Caribbean flavor.
There are notable disappointments. Panama's tourism industry sometimes struggles to meet the demands of travelers. (The man at the Avis counter had no idea how to get downtown, and cabdrivers were no better.) And though the country has many exquisite beaches, none is within walking distance of the hotel strip as in Miami's South Beach.
But ultimately, the beauty of Panama City is that it hasn't become Miami yet. It's much more welcoming and manageable. And now is the time to go -- before the Panama Canal gets its third set of locks, before Donald Trump finishes his 65-story tower and before the prices shoot just as high.
Even today, 93 years after completion, the Panama Canal is an awesome engineering feat, guiding ships the 50 miles from the Caribbean Sea to the Pacific Ocean.
We arrive at the Miraflores Locks and head to the outdoor viewing deck. The sight of 965-foot-long behemoths squeezing through the canal is unbelievable, the precision timing of the locks a marvel. Over a loudspeaker, a bilingual guide rattles off canal stats and fun facts. "The lowest fee ever assessed for passage was 36 cents," he says. "It was for Richard Halliburton to swim the canal." An impressive museum inside is complete with a simulator that gives a realistic sense of what captains experience as they navigate the narrow locks.
The next day, while Manuel works, I ask my cabdriver to drop me at the Plaza de la Independencia in the center of Casco Viejo. The modest square looks much as it did 100 years ago: narrow one-way streets, stone edifices and a few rusty cannons.
On the corner is a lovingly restored four-story colonial built by the French in the 1870s and now home to another canal museum. At one-fifth the price and almost empty, it is a much better deal than the locks museum.
The story of the canal -- from the failed effort by the French in the 1880s to current widening plans -- is presented in bright, colorful interactive exhibits. There's a full recounting of the 22,000 workers who died, most by malaria or yellow fever, and a sobering account of the segregated system that left dark-skinned workers with less money in their pockets at the end of each workday.
Thursday, February 15, 2007
Panama Canal Prices
The Panama Canal Authority (PCA) announced that it is considering a proposal to restructure its pricing system.
“As the world becomes more interconnected–barriers dropping, tariffs reduced–the significance of the Panama Canal and its function in the global supply chain become more important. Shippers moving goods from the U.S. Gulf Coast to Asia can save up to 10 voyage days via the Panama Canal, and vessels traveling from the West Coast of South America to the U.S. East Coast shave an estimated eight to 16 voyage days compared to alternative routes,” the PCA said in a release. “Given the cost increases in shipbuilding, fuel and vessel operations, the route through the Panama Canal has significantly increased its value to its users.”
In a key element of the plan, the PCA is proposing a change to vessel charges that are based on displacement–to simplify and streamline the process. The PCA proposes that the charge will be based upon the maximum displacement draft instead of the arrival draft to assess tolls according to the specified tonnage rate.
Formal consultation on the proposal will continue until March 12, 2007. The PCA will consider input, suggestions and feedback from interested parties until that date. For more information, visit http://www.pancanal.com/.
“As the world becomes more interconnected–barriers dropping, tariffs reduced–the significance of the Panama Canal and its function in the global supply chain become more important. Shippers moving goods from the U.S. Gulf Coast to Asia can save up to 10 voyage days via the Panama Canal, and vessels traveling from the West Coast of South America to the U.S. East Coast shave an estimated eight to 16 voyage days compared to alternative routes,” the PCA said in a release. “Given the cost increases in shipbuilding, fuel and vessel operations, the route through the Panama Canal has significantly increased its value to its users.”
In a key element of the plan, the PCA is proposing a change to vessel charges that are based on displacement–to simplify and streamline the process. The PCA proposes that the charge will be based upon the maximum displacement draft instead of the arrival draft to assess tolls according to the specified tonnage rate.
Formal consultation on the proposal will continue until March 12, 2007. The PCA will consider input, suggestions and feedback from interested parties until that date. For more information, visit http://www.pancanal.com/.
Monday, February 5, 2007
Panama Canal Expansion
For all the panamanians this inversion in the Panama Canal it's very important. Our future depends of that. Here, I find this information about the Canal expansion in Wikipedia:
"The Third Set of Locks Project is a megaproject that will expand the Panama Canal more so than any previous expansion since the Canal's construction. The Panama Canal Authority proposed the project after years of study. Panamanian President Martín Torrijos presented the plan on April 24, 2006 and Panamanian citizens approved it in a national referendum by 76.8% of votes on October 22, 2006. The project will double the canal's capacity and allow more traffic.
The project will create a new lane of traffic along the Canal by constructing a new set of locks. Details of the project include the following integrated components:
Construction of two lock complexes — one on the Atlantic side and another on the Pacific side — each with three chambers, which include three water-saving basins;
Excavation of new access channels to the new locks and the widening of existing navigational channels; and,
Deepening of the navigation channels and the elevation of Gatun Lake’s maximum operating level.[1]
As stipulated by the Panamanian Constitution, any project to expand the Canal had to be approved by the Cabinet, the National Assembly and by a referendum[2]. On Friday July 14, the National Assembly unanimously approved the proposal. In addition, the Assembly passed a law mandating a national referendum on the proposal. The referendum was held on October 22, 2006, the first Sunday more than 90 days after National Assembly approval.[3]"
"The Third Set of Locks Project is a megaproject that will expand the Panama Canal more so than any previous expansion since the Canal's construction. The Panama Canal Authority proposed the project after years of study. Panamanian President Martín Torrijos presented the plan on April 24, 2006 and Panamanian citizens approved it in a national referendum by 76.8% of votes on October 22, 2006. The project will double the canal's capacity and allow more traffic.
The project will create a new lane of traffic along the Canal by constructing a new set of locks. Details of the project include the following integrated components:
Construction of two lock complexes — one on the Atlantic side and another on the Pacific side — each with three chambers, which include three water-saving basins;
Excavation of new access channels to the new locks and the widening of existing navigational channels; and,
Deepening of the navigation channels and the elevation of Gatun Lake’s maximum operating level.[1]
As stipulated by the Panamanian Constitution, any project to expand the Canal had to be approved by the Cabinet, the National Assembly and by a referendum[2]. On Friday July 14, the National Assembly unanimously approved the proposal. In addition, the Assembly passed a law mandating a national referendum on the proposal. The referendum was held on October 22, 2006, the first Sunday more than 90 days after National Assembly approval.[3]"
I don't understand why so many panamanians said "No" in the last Referendum for this project (They lost but it's worrying). What is in their minds? The politicians used the Referendum as a thermometer for their aspirations in the next Campaign. Sad
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