Panama Canal Expansion Continues...

It was just announced that the Panama Canal expansion has justified a $400 million loan. Inter-American Development Bank will be handling the loan.

Panama Canal Authority administrator Alberto Aleman stated that the IDB loan approval demonstrates the confidence and security of the Panama Canal Authority’s expansion project “despite the world financial crisis”.

The Panama Canal Expansion project is a $5.25 billion construction project that is scheduled for completion in 2014. The project will include two additional locks that will double the 50-mile Canal’s capacity.

The Panama Canal is responsible for 5% of the world’s cargo shipping. The Panama Canal Authority is expected to borrow up to $2.3 billion from 2009-2011 for financing and continuation of the Canal expansion. The Canal will pay back loans through additional taxation of 3.5% for shipping tolls.

The Panama Canal expansion project is evidence of the growth here in Panama! If you are interested in moving or relocating to Panama, visit our site to see our special land deals in Panama! Go to www.panama-land-for-sale.com for more information about relocating!

Expansion in Panama Can Continue

We’re all breathing a sigh of relief here in Panama.  Yesterday ended a strike at both ends of the Panama Canal – due to workers walking out on strike.  Thankfully, for all parties involved, it did not disrupt shipping on our vital waterway.

Crane operators and harbor towage workers in Balboa and Cristobal walked out in the morning, but have now resolved a dispute with the government concerning wages.

Because the dispute was settled amicably, our economy and the expansion work will not be hindered.  The Panama Canal is responsible for roughly 5% of global shipping, and is about 1/5 of Panama’s total economy.

The Cristobal port, on the Atlantic side, handles mostly container ships.  The Balboa port, on the Pacific side, is one of the largest ports in Latin America.

Our economy in Panama is booming, and so is the housing market.  Are you thinking of relocating or retiring in Panama?  Visit our blog and our website for all of the latest information on Panama, our development, and land specials!  Go to www.panama-land-for-sale.com for more information.

Panamanian Development to Honor Olympian

Here in Panama, we are very proud of Irving Saladino, our Olympian gold medal winner.

President Martin Torrijos announced last week that the newest sports city development that is currently under construction in Panama City, will be named after Saladino.

Saladino won the gold medal for the long jump of 8.34 meters in the 2008 Beijing Olympics. It was the first gold medal for Panama in the Beijing Games.

Torrijos made the announcement for the naming rights in a press conference on the shore of the Panama Canal. The naming coincides with the push by the Panamanian government to encourage sports among youth.

Saladino is truly a national treasure four the developing nation of Panama.

Looking for land deals in Panama? Visit our website at www.panama-land-for-sale.com for more information on our Panama development deals.

The Portland Business Journal’s Terry Brock penned an article this week about Panama’s wonderful economy and the advantages of living in Panama.

Among Brock’s favorite Panamanian advantages:

1)   Very low taxes

2)   Very low government regulation

3)   Beautiful women

4)   Excellent quality medical and dental care

5)   The national beers sell for about 50 cents a can!!!!

Brock also highlights the Panama Canal, built over 100 years ago – and the reason that Panama is the international city that it is!  Brock also highlights the international commerce and the ease in opening a business in Panama.

Brock’s website, www.terrybrock.com, has a video of our marvelous Panama Canal and how it works!

Click here to read this great article about Panama from the 20^th to the 21^st centuries!

Panama is a great place to retire and to live!  We have some exceptional land deals that you can take advantage of!  Call now – they will go quickly!  Visit www.panama-land-for-sale.com for more information.

PANAMAX 2008 Focuses on Panama Development, Protection

PANAMAX 2008 is now taking place. Panamax is the participation of both military and civil forces from 20 countries ensuring the Panama Canal from a security standpoint on both the Caribbean and Pacific sides.

Described by the U.S. Army South Public Affairs as “Fuerzas Aliadas”, a “U.S. Southern Command joint and multi-national training exercise co-sponsored with the Government of Panama, in the waters off the coasts of Panama and in El Salvador and Honduras, Aug. 11-22”.

The exercise involves ground forces using El Salvador and Honduras bases, 30 vessels, a dozen aircraft and 7,000 personnel. From the US, Davis Monthan Air Force Base (AZ) and Homestead Air Reserve Base (FL) will be utilized as well. US Army Maj. Gen. Keith M. Huber, commander, U.S. Army South will lead the exercise.

According to the U.S. Army South website:
The participating nations include: Argentina, Brazil, Canada, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Peru, the United States and Uruguay. France, Mexico, Paraguay, and Spain are scheduled to participate as observers. The Conference of Central American Armies, the Organization of American States and the United Nations will also participate.

This concentration on our country’s greatest resource tells you a great deal about Panama, our growth, and our stability. Come be part of the action! Visit our website at www.panama-land-for-sale.com to see our great land investment deals! We also have commercial land deals!

Trade Mission to Panama: Focus on Development in Panama City

The U.S. Department of Commerce is hosting a “Trade Mission to Panama” conference, which will be held October 26-29, 2008

The conference will be focused on the booming development in Panama, and opportunities that exist for exporters in the United States as the pending U.S.-Panama Free Trade Agreement comes to fruition.  With the expansion of the Panama Canal, Panama’s economy grew 38.2% in 2006, and 11.5% in 2007.

The conference boasts coverage in the areas of: Building products, Electric & Power, Consumer Goods, Hotel & Restaurant, Medical, IT & Security, Construction, Safety & Security, and Telecom and Machinery.

Participation Fees:

$1560 – small and medium-sized businesses

$1850 – large firms and enterprises

** Each additional company rep is charged $450

** Incidentals are billed separately

The schedule will be as follows:

Sunday, October 26, 2008

- Arrival in Panama City, Briefing and Group Dinner at the Mira Flores Locks

Monday, October 27, 2008

- Economic & Business Briefing

- One-on-One Meetings

- Colon Free Zone Option

- Networking opportunity at the residence of the U.S. ambassador

 Tuesday, October 28, 2008

- One-on-one meetings

Wednesday, October 29, 2008

-Briefing by the Panama Canal Authority

The registration deadline is September 19, 2008.  For more information about the conference, click here. 

If you plan on attending the conference, schedule some time to visit our beautiful land developments.  Contact us at www.panama-land-for-sale.com for more information.

 

Bigger Expansion in Panama: Good News for Land Development?

It was announced on Monday that the Panama Canal may merit even larger expansion than currently planned.  Andrew Beatty, of Reuters reported that due to the current cargo levels, the ‘waterway’s $5.25 billion expansion may not be enough in the long term’.

The Canals traffic is expected to increase 3% annually over the next three decades.  Absolutely amazing…..

Rodolfo Sabonage – who is the head market analysis of the PCA made statements to the effect that much of the growth is due to Chinese exports heading to areas of the eastern United States..

Currently, expansion efforts are due to occur through the year 2014.  Further expansion and more locks could be in jeopardy due to the United States economy, yet the trade from China is apparently compensating for these factors…

This can only mean great things for our growing area of Panama City….Don’t miss out – check out our land investment opportunities at www.panama-land-for-sale.com.  We have both residential and commercial properties for sale!

Panama - Canal Development and Expansion

The Panama Canal Authority released details of last week’s meetings at the Panama Canal Miraflores Locks Visitors’ Center.

Last Wednesday, the AAPA – the American Association of Port Authorities Congress of Latin American Ports – met in Panama City. Attendees were briefed by Panama Canal Authority CEO, Alberto Aleman Zubieta, on the development and tremendous growth that is being experienced due to the Canal expansion.

“It is clear that Panama is emerging as the transportation and logistics hub of the Americas,” said Alemán Zubieta. “Large-scale infrastructural improvements like the Canal expansion and the Pan-American highway, coupled with Panama’s strategic location and proximity to other regional port development projects, make Panama an ideal hub for international commerce.”

Further evidence that we are going to see continued land development as well! Check out our deals at www.panama-land-for-sale.com. See what you can expect when you move to Panama!