The special area meets today, eleven years since its establishment as a place of trade and logistics development.
Eleven years have passed since the Act 41 of 2004, which creates a scheme for the establishment and operation of the Special Economic Area Panama-Pacific was enacted. At the same time, an autonomous state agency called Agency Pacific Panama (PPP), through a public-private partnership, is responsible for developing the site for 40 years was established.
The project, promoted in an area of 1,400 hectares of what were the old military bases Howard has made significant progress and international recognition as an initiative of mixed-use development, a global platform for commercial, industrial and logistics activities.
This recognition, in the words of Henry Kardonski, general manager of London & Regional Panama is due to the results ‘already reflected in the national economy’. The British firm was chosen in 2007 after a period of consultation, as the master developer of this special economic area.
So far the project, Panama-Pacific has exceeded expectations, said Leo Gonzalez, manager of the APP by the Government. So much so that regional multinationals, global headquarters and have chosen to conduct their operations. Already more than 230 companies based in the place.
VISION AND COMMITMENT
According to Kardonski, eleven of the project are the implementation of a vision that has gone through a number of processes, the result of an analysis of the territorial situation and other factors showed that there was a great opportunity.
‘If this order is applied to other projects, things would do well in this country, or at least would go on right track’, he estimated.
Similarly, González recognizes the strengths of Panama Pacific, but considers that there is still work to do. ‘One of the commitments we have as a state is to educate people about what you have and the business sector on the export product which means this particular area, “he said.
He adds that there are certain shortcomings in the logistics sector, as some claim, but believes that everything is that logistics is understood, a couple of years ago, just as the maritime part.
‘Today the trade in general has it understood that Panama is more than just a waterway’ he said.
According to the international tender, London & Regional planned to invest $ 405 million date. However, the British firm has gone much further and achieved an investment above $ 450 million out of a total of $ 705 million established as the commitment of the developer.
The three areas are carried out in the commercial are industrial, commercial and residential.
Industrial and logistics is the most developed area, with 40% advance that exceeds the program.
‘There was a vacuum regional high-quality logistics facilities, “said Kardonski.
As for the commercial area, the agency promotes investment, this carries a 15% growth, approximately.
250 thousand square meters referred to the commercial area, only 45 thousand square meters have been developed, according to the developer.
Meanwhile, the residential area maintains the agreed rate, 10% according to the master plan, which provides that it can build up to 20 thousand housing units, of which develop thousand, equivalent between 5-10% complete. ‘There create value in everything you are doing. Is a good laboratory practices’ said Kardonski.
CONTRIBUTION TO THE ECONOMY
The Agency noted that in 2014 only contributed to the gross domestic product estimated $ 961 million.
Of this amount $ 30.4 million arising from induced effect, direct impact of $ 591.1 and $ 339.4 indirect impact.
‘It is not a cumulative amount but radiography of a year, “said the manager of London & Regional Panama.
For his part, González says manager ‘clearly the project has been successful, profitable and generated quality employment spaces’ for Panamanians.
According to the agency, the project has employed over 15 thousand people.
The added seats 8,920 direct jobs, while indirect are 6,211.
‘Panama Pacific is an example of a State project, created with a long-term vision, “said Gonzalez.
The project has also received foreign investment in different regions, with the arrival of prestigious multinationals that have set their operations in Central America.
Both Latin America and Europe share a 31% investment in Panama Pacific. Close behind the United States, with 29%.
Asia, Australia and Canada have invested in the special economic area by 5 and 4%, respectively.
65% of investments in Special Economic Area Panama-Pacific is foreign.
Ernesto Chong de León, Ernesto Emilio Chong Coronado
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