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Cable & Wireless contributed $ 7.7 billion to the Panamanian economy

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Cable & Wireless contributed $ 7.7 billion to the Panamanian economy

Tue, 05/29/2018 - 10:04

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The Cable & Wireless Company Panama (CWP), of public-private capital, reported today that it contributed more than 7.700 million dollars to the Panamanian economy since entering the Central American country more than two decades ago.

The company explained in a statement that today, May 29, it will be 21 years since it entered the Panamanian market and that in that time it has contributed a total of 7.718 billion dollars "regarding dividends paid to the State, taxes, fees, concessions, salaries, purchases from local suppliers and capital investments as a Panamanian joint venture".

"From 1997 until December 31, 2017, CWP has paid 952 million dollars in dividends to the State and the company's collaborators, and has contributed 932 million in total taxes," the company said in the same statement.

The firm, which provides land lines, mobile, broadband and paid television services, also stressed that its technological leadership "has made Panama the most important telecommunications hub in Central America."

Among the technological milestones developed by the company in the country, is to have been the "first to offer LTE in the mobile network, the pioneers in GSM technology, rural public telephony with satellite technology or digital prepaid television," he added.

"We have set ourselves the great challenge of connecting a whole country through our services, the confidence gained during these 21 years is the best guarantee of the success we have," the executive president and general manager of CWP, Julio Spiegel, said in the note.



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