Panama Canal On Schedule.....

Today, Panamanian President Omar Torrijos announced that the $5.2 billion Panama Canal expansion is on schedule.

The Panama Canal is the connector between the Pacific and Atlantic Oceans. It saves ships from having to go around the southern tip of South America to cross the western oceans. Instead, the ships are able to use the Canal to cut through Central America. Originally opened August 14, 1914, the Canal is slated to re-open 100 years later in 2014.

The 93-year old Canal is the forefront of Panama’s economy. The new expansion will bring new residents, visitors, and jobs. Roughly 12% of Panama’s workforce is being affected by the Canal’s expansion. Panama is currently a desirable location – the country offers a high return on the dollar and significant discounts and excellent benefits for retirees.

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