The mayoralty of Panama announced that it will renew the area known as El Terraplén, and will invite bids for the construction of drainage, lighting implementation, security cameras and decoration.
The aim of the Mayoral office is for the historic site to become a gateway to the Old Town, the pedestrian area and the Salsipuedes area.
A bill presented in Panama would allow the construction of marinas and docks and the granting of concessions to develop tourism activities in historic areas in the City of Colon.
The initiative presented in the National Assembly on August 4, aims to increase the influx of tourists to the historic areas of Portobelo and San Lorenzo, declared patrimony of humanity 34 years ago.
The coastal belt road project makes it easier to access the area; development in the zone is reigniting, after being dragged down by the crisis.
In 2007 a series of tax incentives for developing the quarter came to an end, slowing down investment in the area, declared as a World Heritage Site by Unesco in 1997.
An article by Raul Bernal in Martesfinanciero.com tackles the subject, remarking that "in the antique walled city of Panama, investment effervescence seems to grow year after year. Restaurants, stores, hotels, residences and more innovative or restored buildings are presented to the passer-by, in a monumental, beautiful group".
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