Isthmian Update

Some of the news in Panama

Colon Free Zone needs new law

Current legislation in the Colon Free Zone is more than 65 years old. Luis Germán Gómez, president of the Colon Free Zone Users’ Association, believes that it is time for a change. They consider that one of the major barriers is not allowing Multinational Corporations (SEMs) to establish within the Free Zone. During a forum organized by the Chamber of Commerce of the United States and Capital Financiero, Gomez highlighted the case of Procter & Gamble, a company that operates in Panama but had to establish its logistics headquarters overseas due to the old legislation.

Coastal Strip III will join Avenida Balboa with Ancón

In the coming days, in the marine viaduct of the Coastal Strip III they will be placing the beams on which the road will connect to Avenida Balboa and Avenida de los Poetas. A total of 570 concrete beams, each with a weight of 100 tons, and between 40 and 45 meters long, are necessary to construct the viaduct, which is 60% complete.

National Police under fire

The shooting at the hands of agents of the National Police Force, in which Panama University professor, Rosario Godoy Saavedra and her mother, Leyda Nunez were injured while traveling in a vehicle accompanied by four people on Friday night in Villa Zaita, Las Cumbres, revived the voices of civil society again demanding repeal of Law 74 of October 2010. Yesterday, Maribel Jaén, of the Justice and Peace Commission, again called for the repeal of Law 74 that is necessary since this shields and exempts police agents from any liability for acts that they are involved in.

Panamanian logistic system is slowing down

There are signs that show a weakening in the Panamanian logistics system, generated by factors such as the delay in the work of the Panama Canal expansion, the interest of some other nations in becoming the logistics hub of the Americas, discrediting the work that has been developed for years in the country, said analysts during a debate held recently.

Former ACP Marketing VP allegedly broke regulations

Lourdes Castillo, a member of the board of the Panama Canal Authority (ACP), confirmed that Mr. Rodolfo Sabonge, former Vice-president of Marketing, is under investigation by the Inspector General, Antonio Dominguez. Castillo said that the investigations into alleged wrongdoing by Sabonge concerns rules or regulations governing the Panama Canal Authority. She said that Sabonge filed for voluntary retirement after 28 years of service in the ACP. However, the investigation continues.

Taxes on properties are still on

Thousands of taxpayers still must face paying more tax money allocated to the property revaluations being made by the Ministry of Economy and Finance (MEF). Although President Martinelli said six days ago he had “suspended” the valuations in the capital city, they still remain in place pending a ministerial decision.

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