Welcome to the Panama Weekly News Roundup! Here’s the latest.
Air Panama to begin flights between San Jose, Costa Rica and Bocas del Toro
Air Panama has been making a number of moves recently to solidify their reputation as a strong domestic and international carrier. With the pressure of competition from Copa, Air Panama is branching out with new routes, and new low fares. Their newest route, between Bocas del Toro and San Jose, will be a big boom for regional tourism and a great revenue stream for the company.
The flights are expected to be on Mondays, Wednesdays, and Fridays, an airline representative based in San Jose told ICR News, though pricing and schedule will not be officially announced until Monday.
Source: ICR News
Indonesia, Panama agree to boost relations
Earlier this week, Indonesian Foreign Minister Retno LP Marsudi and Panama Vice President Isabel de Saint Malo de Alvarado agreed on boosting mutual ties for trade and future business at the Forum for East Asia-Latin America Cooperation’s seventh summit. The two countries currently have good relations, but want to open a greater business dialogue for projects that are mutually beneficial to both countries.
During the meeting, Minister Retno and Vice President Isabel de Saint Malo identified a number of areas of bilateral cooperation to be explored further to increase relations between the two countries.
The Panama vice president highlighted the importance of building connectivity in their efforts to strengthen bilateral cooperation. She said Panama were holding a High Level Panel on Connectivity in April 2016 and it was expected that Indonesia would support the meeting to build connectivity between the two countries.
Source: The Jakarta Post
Engineering News-Record selects Panama’s Cinta Costera 3 for best road and highway project honor
Panama’s “Cinta Costera”, or Coastal Beltway in English, was one of the highlights of the Martinelli administration and a proud green landmark to Panama’s residences. The already iconic greenway is not only received well in Panama, but it’s also been getting some great recognition from engineers all over the world. This month, the Cinta Costera’s phase 3 project was selected as the best road and highway in an international competition held in the United States.
“We are honored to have played a role in helping Panama City complete one of the region’s major urban infrastructure initiatives,” said Sofia Berger, Louis Berger vice president and managing director for Latin America and the Caribbean. “Louis Berger undertook the challenge of creating an alternative access to Panama City from the Bridge of the Americas to stimulate coastal development with green spaces and improving access to amenities in the neighborhoods of San Felipe, Santa Ana and El Chorrillo.”
Source: Market Watch
5 Reasons Why You Should Choose Panama for Offshore Investments
If you’re looking to make an offshore investment in Panama this year, you’ve got a lot in your favor. The investment climate in Panama is ripe, and foreign investments continue to grow, despite a moderate economic slowdown. In our latest blog post we give you 5 solid reasons why this is the year for you to make your Panama offshore investment.
1. Stable Currency; Low Inflation. One of the biggest issues with investing offshore in Latin America is the value fluctuation of the local currencies, as well as high inflation. In Panama, this isn’t the case. Panama uses the US Dollar, meaning that their currency is the strongest out of all the currencies used in Latin America and the Caribbean. They also have low inflation rates, paralleling the US to a degree, keeping investments safer, and less prone to devaluation.
Continue reading about why you should choose Panama for offshore investments
