Tocumen Could Become Free Zone

The 50 companies already operating at Tocumen's airport facilities will be able to access free trade zone incentives if the request made by the administration of the terminal is approved.

Monday, March 14, 2016

The documentation was submitted to the National Commission of Free Zones at the Ministry of Trade and Industry (MITI), and there will be a 30 day period to review and approve the application. In the documents the administration of Tocumen SA cited as justification for the application logistics companies established at the airport and in the increase in the volume of cargo passing through the terminal.

Laestrella.com.pa reports that "...The area will allow 50 logistics companies already established there to enhance their operations through activities such as manufacturing, assembly, processing of finished products or semi-finished products, logistic services, higher education, scientific research, high technology, environmental services, provision of health and general services. "

Angelo Gutierrez, director of Zona Franca at ICIM, explained that "... 'There are companies dedicated to refrigerated food services for aircraft that are interested, as well as companies in sectors such as drugs, hi-tech spare parts and fishery and agricultural products. All of them have expressed interest in tax incentives provided for in the law .'"



More on this topic

Tocumen Bonds Sale Canceled Because of Waked Case

May 2016

As a holder of concessions for duty free shops WISA contributes 7% of the revenues of Tocumen SA, and its inclusion in Clinton list has rattled investors.

An article in Prensa.com reports that yesterday "... the stock broker Citivalores ​​informed the Stock Exchange of Panama that the initial purchaser of the issue, Citigroup Global Markets, decided that the original conditions set out in the purchase agreement had not been met and voided the bond offer made ​​on May 4 and whose closing date was May 11."

A Free Zone at Tocumen Airport

November 2014

Airport authorities are preparing a plan to develop infrastructure for a free trade zone in an area measuring ​​70 hectares within the terminal.

The increase in cargo volume and the demands of logistics and transport have led to Panamanian authorities at Tocumen International Airport to propose two alternatives for the development of a free zone within the terminal.

Enrique Malek Airport Handed Over to Tocumen SA

September 2013

With the free transfer of title, approved by the Civil Aviation Authority, the company will receive assets valued at $118 million.

Prensa.com reports: "During the appraisal conducted by the Ministry of Economy and Finance and the Comptroller General of the Republic, it was determined that the airport grounds are worth $56 million, while infrastructure is worth $55.1 million." Added to this is another $6.5 million in equipment and other things.

Panama Wont Grant Airports in Concession

May 2013

Panama's government has backed down and decided that the airports in Rio Hato, David and Colon, will be administered by Tocumen SA.

Rafael Barcenas, director of the Civil Aviation Authority (CAA), said that they found a way for three new airports, which will not be profitable in the short term, not to become an administrative burden that hinders securing the funds they need to build the South Terminal at Tocumen airport, which will have an investment of $679.4 million.

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