Panama: Works Underway at Bahía Las Minas RefineryFriday, April 9, 2010 Works started today to enlarge the fuel terminal at Bahía Las Minas; $10 million will be invested. Scheduled for completion on December 2010, they will add 30% more diesel and fuel loading capacity to the facility. Panama Hopes to Produce Ethanol in 2013Tuesday, April 13, 2010 The country expects to build and operate an ethanol plant in three years, after it resumed an agreement with Brazil. Juan Urriola, Energy Secretary, explained that in less than 60 days they will make an announcement related to the construction of this plant. Companies Bid for Number Portability in PanamaWednesday, April 14, 2010 The Panamanian Public Services Authority (ASEP) is receiving today the proposals of companies interested in supplying, operating and supporting the system. According to ASEP, the value of the contract is around $8 million. Works Start in Panamanian RefineryFriday, March 5, 2010 $9 million will be invested in refinery “Refinería Panamá”, to build a new fuel loading area. Ramón Betancourt, CEO of the refinery, explained they have already invested $1.7 million in equipment design and purchase. Grupo Rey Invests $21 Million in PanamaFriday, May 22, 2009 Grupo Rey Holdings began the construction of a new supermarket in Chitré, the chain’s first one in the Azuero region. With an investment of $21 million, the construction of 3 thousand square meters for the next Grupo Rey supermarket began in Chitré and it will generate over 100 direct jobs. Panama: $30 Million for Refrigerated Logistical CenterFriday, October 2, 2009 Grupo Galores will erect, close to Tocumen Airport, its first Refrigeration Logistical Center. It will benefit the commercialization of perishable products, and will start operations midway 2010. Consumption Doesn´t Drop in PanamaFriday, June 19, 2009 Until April of 2009, tax collections on consumption has increased 18.3% compared to the same period of 2008. The Property and Services Transfer Tax (ITBMS), commonly know as the 5%, is a net tax on consumption. Panama: Agricultural Export Sector Requires $21 MillionFriday, July 10, 2009 This is the investment required to increase exports of melon and watermelon, said Edwin Pérez, president of the Union of Agricultural Exporters. April recorded drops of 68.8% in melon exports and of 53.4% for watermelon, when compared to the same period of 2008, according to figures from the General Comptroller of the Republic. Oil and Gas in PanamaThursday, January 20, 2011 The Government plans to tender in March 2011, concessions for the exploration and exploitation in different areas of the country. As part of the process and to make it more attractive for investment, changes in current exploitation of hydrocarbons, which dates back to 1987, will be studied. Strong Colombian Investments in PanamaThursday, April 2, 2009 There are $1.7 billion in Colombian investments in the country, mainly in construction, tourism and food. According to a report issued by the Embassy of Colombia in Panama, published in Pa-digital.com, Colombian businessmen have invested $519 million in construction, $100 million in tourism, $62 million in the food sector, $50 million in hydrocarbons and $40 million in trade. High Crime Rates Halt InvestmentWednesday, April 22, 2009 Even though Panama is not the country in Central America most affected by crime and violence, there is already a warning about the cost of rising insecurity. Panamanian companies are seeing an increase in their security costs and they are starting to worry about the consequences on the investment climate in the country, especially the possible decline in tourism. Panama To Invest $3.93 Billion in Energy ProjectsMonday, April 5, 2010 22 new energy generation projects are planned for the next four years. They will add 1.061 MW to the country’s power grid, an 87% increase over Panama’s current energy generation capacity (1.208 MW). Panduit Moves Operations to Costa Rica and MexicoFriday, September 11, 2009 The wiring and communications company will reduce jobs in its southern U.S. plants. Panduit recently expanded its manufacturing facility in Alajuela, Costa Rica, in 14.000 square meters, an investment worth several million. Panamanian Biotechnology Company Gets AcquiredWednesday, December 1, 2010 The US company Emerging Healthcare Solutions Inc. (EHSI), purchased the Panamanian company Células Genética. In March this year, the companies signed an agreement to share profits, through which EHSI injected $ 1.8 million into the Panamanian company. Costa Rica: Interamericana Merges with U LatinaTuesday, March 2, 2010 The owner of both universities, Laureate Costa Rica, is awaiting approval from the authorities to merge both into a single education center. A press release from the institution reported that the new center, if approved, would become the country largest private university, with over 30.000 students. |
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