Creation of New Free Zones in Panama

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Offers to Build a Free Zone in Tocumen

Between $ 13.5 million and $ 14.1 million is the range of the five proposals for the first phase of construction of a 35 hectare free zone in the grounds of Tocumen International Airport.

Thursday, May 10, 2018

Five companies submitted their technical and economic proposals:

Ingeniería PC: $14,134,262
Levantina Ingeniería y Construcción: $14,156,483
Mota-Engil Engenharia e Construcao S.A. (Panama Branch): $13,981,735
Transeq S.A .: $13,538,860
Toronto Global Holdings Corp: $14,157,170

The evaluation commission will have 3 weeks to evaluate the technical and economic offers presented by the five companies and choose the winner.

The bidding documents indicate that the winning company will have a period of 385 days to execute the civil works for leveling the land, construction of infrastructure, installation of basic services, fencing off the area, car parking lots, drainage , streets, Customs control points, wastewater treatment plant, administrative offices, as well as processing of all permits required by the State and the Municipality of Panama.

See details of the tender.

 

https://www.centralamericadata.com/en/article/main/Offers_to_Build_a_Free_Zone_in_Tocumen

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China plays lead role in Panama’s first digital Free Zone

Ramón Martínez,

Posted 16/07/2019

Panama’a  first digital free zone which will be installed, in the  Brisas de Golf, district of San Miguelito, and will require an investment of $38.9 million dollars, according to government projections.

The complex is the first tangible approach between the Cortizo administration and the government of China, whose investments multiplied as a result of the establishment of diplomatic relations with Panama in 2017.

The complex, which will be built on an area of 2.5 hectares, was presented to the Cabinet Council by Ramón Martínez, Minister of Commerce and Industry, who explained that in the first stage $10.6 million dollars will be invested, and another $28.3 million in the future.

The financing of thefree zone, will be with the international Bank of China, and the Panamanian Global Bank.

In the explanatory statement, Martínez explained that the infrastructure will include a data center with servers and computer infrastructure designed by the Huawei company. In addition, it will have a central building and eight office buildings, an apartment hotel and a Higher Technical Institute specialized in education and training in high technology and telecommunications.

 

https://www.newsroompanama.com/business/china-plays-lead-role-in-panamas-first-digital-free-zone

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Panama: Investment in Free Trade Zone Announced

The government informed that in San Miguelilto it is projected to invest $39 million in the implementation of a digital free trade zone, which is expected to install computer technology companies and centers of higher and technical studies.

Wednesday, July 17, 2019

Authorities of the Ministry of Commerce and Industries (Mici) said that in a first stage, the private company will invest $10.6 million and then another $28.3 million will be disbursed. Regarding the origin of the funds, it was reported that they already have structured the financing figure of this free zone, which would be in charge of the international Bank of China and the Panamanian Global Bank.

You may be interested in "What Threats Are Facing Industrial Parks?”

From the Mici statement:

July 16, 2019. After the Cabinet Council approved on Tuesday the establishment of the first digital free trade zone in America, in the district of San Miguelito, BPO's Panama Free Zone is expected to be the point of attraction for computer technology companies, centers of higher education and technical, and high-tech companies that want to invest in the country.
This was announced by the Minister of Commerce and Industries, Ramon Martinez, who said that the new free trade zone will generate more than one thousand jobs in its first year of operation, and a total investment of more than 38 million dollars.
 
"BPO's will have an initial investment of more than 10 million dollars, and a future investment of more than 28 million dollars.  With this new free trade zone, of great potential and benefit to the country, Panama's competitive advantages are reinforced," he said.
 
He also highlighted that "the company complied with the requirements demanded by Article 19 of Law 32 of April 5, 2011, to obtain its license as Promoter and Operator of Free Zones, so it was recommended to the Cabinet Council, in accordance with Article 9 of Law 32 of 2011, to issue a favorable concept for its development."
 
BPO's Panama-Free Zone, Inc., a developer company, plans to install within the area up to one hundred companies dedicated to specialized digital services such as Data Center, administrative outsourcing processes, operation of global e-commerce platforms and digital management of global value-added chains, among others; contributing to the generation of 1,500 jobs at the technical, medium and advanced levels.
 
Regarding its location, BPO's Panama-Free Zone will have a strategic position, since it will have immediate connectivity with all sectors of Panama City and the main logistics centers, because of its proximity to the Northern Corridor.
 
Since it is in Cerro Viento Rural-Brisas of the Golf will have access to the International Airport of Tocumen, to the Port of Balboa, to the connection of the North Corridor with the Highway Panama-Colón, and from this point, to the Port of Cristóbal and the Free Zone of Colón.

 

https://www.centralamericadata.com/en/article/main/Panama_Investment_in_Free_Trade_Zone_Announced