US - Panama Business Council Southeast Chapter, Inc. Newsletter
October/November 2009 - Volume 3 |
Welcome to USPA-SE third newsletter. This is a very exciting time for United States- Panama business opportunities. USPA - SE is working hard to promote bilateral business relationships between companies in Panama and Southeastern United States.
The purpose of of the USPA SE newsletter is to provide information about USPA-SE activities and information about Panama as it relates to business
opportunities. .
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USPA-SE met for talks with David Hunt at in PANAMCHAM Panama City
(Henry Johns, USPA SE Board Member; David Hunt, PANAMCHAM, Executive Director; Luis Hall, USPA SE President )
On Monday September 21st Luis Hall and Henry Johns met with David J. Hunt, Executive Director of American Chamber of Commerce & Industry of Panama (Panamcham) at his office in Panama City, Panama. They discussed the direction USPA-SE is taking to drive business opportunities and project between Panama and the United States. Luis Hall explained how USPA-SE would like to work closely with Panamcham to help open the doors for bilateral trade between businesses in the two countries. Also discussed was joint membership between the two organizations which is waiting on approval of the Panamcham Board of Directors. |
USPA-SE meeting with Panama Compra representatives
Luis Hall, President of USPA-SE and Board member Henry Johns met with representatives at Panama Compra on September 23rd in Panama City, Panama. Panama Compra is responsible for the bidding process and contract opportunities with the government of Panama. We were given an in depth overview by Marcos Achurra, IT Director and his staff of a new web based purchasing system that will be implemented in October 2009. The new web based system will improve the functionality of the Panama Compra e-procurement system. The system will be mandatory for purchases over $1000 for approximately 250 government agencies. The Panama Canal Authority has its own bid processing system.
With this new system, all vendors must first register online The registration process allows vendors to identify their products and services using the United Nations Standard Products and Services Code (UNSPSC). Once registered, vendors are notified through email of any opportunities related to the UNSPSC codes. Non-Panamanian companies must register their businesses in Panama before they can be awarded a contract by the Panamanian government. The system is only
available in Spanish. USPA SE is currently in discussions with a Panamanian company to provide assistance and consulting services to USPA SE members.
NOTE: The new law for public bids has since been modified in 25 articles. For this reason some adjustments to the new Panama Compra software release are required. The upgrades are due to be completed around February or March of next year. |
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Meeting with Panama Chamber of Commerce
(Alfredo Mejia A., Senior Policy Advisor; Luis Hall, USPA SE President; Irvin Halman, Board of Directors, Panama Chamber of Commerce)
Luis Hall, USPA-SE President, meet with members of the Camara de Comercio, Industrias y Agricultura de Panama (Panama Chamber of Commerce) in Panama City, Panama during his September trip to discuss ways that USPA-SE and the Chamber can work together to promote trade between businesses in the two countries. Both organizations left excited about working together to develop mutually beneficial business
opportunities. The Chamber's annual international multi-sector trade and commercial exposition (Expocomer), is scheduled for March 3 to 6, 2010 in Panama City, Panama. |
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USPA-SE Attends Meeting with PANAMCHAM TIC Committee
PANAMCHAM's InformationTechnology and Communications (TIC) Subcommittee Chair Glenn Tjon invited Henry Johns USPA-SE Board member and President of Vision TRE, iNC. as his guest to attend the TIC meeting held on Friday September 25th . Juan Carlos Uribe, Director Ejecutivo of Camara Paanamena de Technologias de Informacion Y Telecommucaciones (CAPAtec) presented the 2008 - 2018 Estrategia Nacional TIC for Panama. This plan was developed by Dr. Peter Wilton, Haas School of Business, University of California, Berkeley and Orbissa Associates Limited last December. This report outlines the key elements in a
coordinated strategy to establish Panama as a "World Class Entrepreneurial ICT Cluster" within a ten year time frame. One recommendation of this report is that the ICT Cluster targets a critical mass of 25,000 ICT workers with in the next 5 years. This represents an approximate doubling of the current labor pool of the Panama ICT sector. |
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USPA-SE Representatives attended the
PANAMA ENERGY ROUNDTABLE
Energy & the Martinelli Government
Held September 25, 2009
Panama City, Panama
Luis Hall, President of USPA-SE and Board member Henry Johns attended the Institute of the Americas, Panama Energy Roundtable titled "Panama Energy Roundtable: Energy & the Martinelli Government" on Friday September 25th, 2009 in Panama City, Panama. The conference participants discussed the energy outlook for Panama and the Panamanian government's energy plans as it relates to the the energy outlook for Panama and plans of the new government for energy and the expansion of the Panama Canal, pipelines and infrastructure, energy integration, renewable resources, energy and the environment. Some of the guest speakers were: Juan Manuel Urriola, Secretary of Energy, Government of Panama,Alberto Aleman Zubieta, Administrator, Panama Canal Authority, Luis Enrique Berrizbeitia, Executive Vice President, Corporación Andina de Fomento (CAF), Andrew Vesey, President, Latin America & Africa, AES Corporation, Marcelo Antinori, Panama Representative, Inter-American Development Bank (IDB), and José Enrique Martínez, General Manager, Empresa Propietaria de la Red (EPR), Sampo Suvisaari, General Manager, Power Plants, Central America and the Caribbean, Wärtsilä North America, Inc., Jorge Barrigh, Managing Director, Natsource.
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Panama News:
Panama Government launches free wireless Internet service
More than 500 points (locations) in 22 cities across Panama have been enabled with free wireless Internet service, according to the State Secretariat of Communication.
In a symbol activating of the network yesterday, President Ricardo Martinelli launched the $25.5 million dollar project, which is being developed by Liberty Technologies, who won the bid in September of this year.
With this connection, users with any personal computer equipped with Wi-Fi signal can "have access to websites, chats, and e-mail for free through an attainable speed of up to 512 kbps," according to the press release. The places that will offer this signal will display an orange logo that will identify the national network, said Eduardo Jaén, Secretary of Technology Innovation.
Connection points will be located in places found to have the greatest concentration of people, such as schools, parks, libraries, health centers, police stations, community gyms, tourist spots, and municipal and government sites, among others.
The first phase of this project plans to install service in: Penonomé, Coclé; Colón, Colón; David, Chiriquí; Chitré, Herrera; Panamá, Panamá; Arraiján, Panamá; La Chorrera, Panamá; Santiago, Veraguas; Soná, Veraguas; and Pesé, Herrera. In the second phase, the project will incorporate connection points in cities like Chanquinola, Bocas del Toro; Aguadulce, Coclé; Bugaba, en Chiriquí; Chepigana y Metetí en Darién; Ocú, Herrera; Capira, Chame, Chepo, and San Miguelito in Panamá..
Keeping a promise "We are fulfilling a campaign promise; providing the opportunity for young people to gain access to technology," said Martinelli at the Orlando Winter gymnasium of the Alfredo Cantón school in San Miguelito, before a cheering crowd. Jaén stated that they also plan to provide public school students with free laptops.
Panama Sells $1 Billion of Dollar Bonds in Overseas Markets
Nov. 16 (Bloomberg) - Panama sold $1 billion of dollar bonds in overseas markets after a boost to the country's debt- rating outlook put it on the cusp of investment grade.
The 10-year bonds were sold to yield 187.5 basis points above U.S. Treasuries, according to Bloomberg data. Credit Suisse Group AG and Deutsche Bank AG arranged the bond sale.
The European Investment Bank (EIB) Grants USD 211 Million For Clean Energy Generation Project
Source: EUROPEAN COMMISSION
Published Tuesday, 27 October, 2009 - 16:14
EIB Vice-President Carlos da Silva Costa and Mr Philippe Delmotte, Executive Director of the Gas de France-Suez Group for Central America, signed the finance contract in Luxembourg this morning.
The loan will part-finance the construction and operation of the Guanaca, Lorena and Prudencia hydropower plants on the Chiriqui river in western Panama. With a total installed capacity of 117.5 MW, the three plants will be integrated into the river's existing hydroelectric system consisting of the Fortuna and Canjilones plants. The project will help to meet the rapidly growing electricity demand in Panama in an environmentally sustainable way using available water resources
Korean trade with Latin America is growing strongly led by Brazil and Panama.
Latin America represents a growing market for Korea and one where it has been able to maintain a strong surplus. Last year, total trade between Korea and Latin America grew by 27.1 percent to $47.0 billion. Of that exports grew by 29 percent to $33.3 billion, while imports of Latin American goods increased by 21.5 percent to $13.8 billion, according to data from the Korea International Trade Association (KITA).
Much of the trade growth in recent years has been spurred by Brazil and Panama. Last year Brazil replaced Mexico as Korea's largest trade partner in Latin America, while Panama managed to become the third-largest partner.
Panama May Build Bridge Or Tunnel Across Canal
PANAMA - The Panamanian government is planning to build a bridge or a tunnel across the Panama Canal near the Atlantic coast, the Panama Canal Authority (ACP) said on Wednesday.
The authorities will invite bidders for a contract in January 2010. The winning company must analyze and present the feasibility of building a bridge over the Canal or a tunnel across the Canal.
Both alternatives will be studied independently, the ACP said.
"It is estimated that the presentation of the studies will last seven months," and a committee formed by engineers will be in charge of evaluating the proposals, and it is possible to hire external advisors to guarantee efficiency, the ACP said.
Panama began to modernize the Canal in 2007 and is scheduled to finish the work in 2014 at the latest, to celebrate the 100th anniversary of the Canal. The project will cost about 5.25 billion U.S. dollars.
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Calendar of Events
The 1st International Congress on Strategic Management of cargo transportation and foreign commerce will host the "Integrity Business Tour" COLOMBIA-PANAMA from December 2nd - 5th at the Hotel Panama in Panama City, Panama. For more information call (507) 393 2901 in Panama
January 11-16 2010 PANAMA JAZZ FESTIVAL, Panama City, Panama.
March 3-6 2010 EXPOCOMMERCE 2010 | |
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Sincerely,
Luis Hall - President,
United States-Panama Business Council, Southeast, Inc.
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Congratulations to Alberto Aleman |
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Alberto Aleman, manager of the Panama Canal Authority (ACP)
received the 2008 International Sea Award because of his work as the head of the Panama Canal.
According to ACP the award was granted by the International Sea
Organization (OMI) and responds to the leadership of an institution
concentrated on its service to the customers.
The award was delivered by OMI secretary general Efthimios Mitropoulos during a ceremony at the OMI host building in London, England. This award is considered the most prestigious one in the sector and it is awarded to any person or organization that has made the most important contribution to the work or the objectives of the institution.
Once Again, Congratulations from the USPA-SE Chapter!!!
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Dr. Steen works with programs that extend the University of Southern Mississippi's influence to local and global communities through study abroad, exchange, and articulation programs; English-as-a-second language instruction; and international student and scholar services. She hopes to provide greater exposure for The University of Southern Mississippi to opportunities and connections with Panamanian organizations which will benefit students, faculty, staff, and local community members in both Mississippi and Panama. |
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Foreign investors have chosen to put money in Panama for good reasons!
* The economy is strong.
Panama has shown strong growth for the past five years (over 11% in 2007 and over 9% in 2008, 3.5% predicted this year).
* Foreigners have the same rights to property and business as nationals.
* Panama uses the U.S. Dollar for currency.
* Tax breaks and exemptions are available.
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