On October 30, the Lines and Agencies Committee of the Panama Maritime Chamber (CMP, for its acronym in Spanish), the National Customs Authority and the Government Innovation Authority (AIG, for its acronym in Spanish) met to discuss the country’s logistics industry. Their remit is to analyze and evaluate the current situation and their conclusions are expected to impact the regulation of the sector in the medium term. The representatives involved also agreed to set up a permanent working group to review topics related to the cluster with a view to streamlining processes and consolidating Panama’s position as a logistics hub.
In other news, November 6, Panama’s Minister of Commerce and Industries (MICI, for its acronym in Spanish), Ramón Martínez, participated in the China International Imports Fair (CIIE, for its acronym in Spanish) as part of an official visit to that country. He laid out Panama’s competitive advantages, presenting the country as the principal logistics hub for Latin America, in order to attract investment aimed at strengthening its logistics, competitiveness and connectivity sectors.
The Panamanian authorities on the visit were able to meet with directors of several Chinese companies working in the logistics and telecommunications sectors, and discussed how to turn Panama into an investment focus for Chinese business. The focus was on the advantages offered by Panama to foreign investors, including the Public-Private Associations Law and the special regimes for free zones and incentives for the headquarters of multinational companies. “We have had several meetings with Chinese companies interested in investing in Panama, which see the potential of our country as the logistics hub of Latin America,” said Minister Martinez.