In order to explore the possibility of building an industrial energy park in the area of Baru in the Chiriqui Province of Panama, investors in a consortium of four U.S. companies of the most influential Fortune 500 held a working meeting with the Minister of Commerce and Industry, Roberto Henriquez.

The interest of building an industrial park in this area is part of the initiative by the government of President Ricardo Martinelli of attracting investments in this sector of the country.

Besides the Minister of Commerce, the meeting was also attended by the Deputy Minister of Industry and Commerce, Ricardo Quijano.

Article courtesy of the Ministry of Commerce and Industry of Panama

ATP AND AEROPERLAS REGIONAL – PROMOTE A NEW FLIGHT PANAMA – PEDASI

The Tourism Authority of Panama (ATP), Aeroperlas Regional Airline and a group of investors joined forces to launch a new flight new Pedasi in the Azuero Peninsula – Panama City, which starts its operation today Friday 26 February 2010. 
 
 This flight was made possible by the signing of an agreement between these three entities, where the marketing strategies of ATP, the interest of entrepreneurs in the development of the area and Aeroperlas‘ commitment to collaborate in the development, were combined.

The flight will have two weekly frequencies, Monday and Friday and will connect a region with great tourist potential. It will be operated with a Cessna Grand Caravan aircraft with a 12 passengers capacity. Salo Shamah , General Manager of the ATP, said this initiative is a model where an airline and business groups take risks to promote products in emerging destinations.

Shamah said: “It is important to establish a national air network that spreads its benefits to the social and economic development of Panama.” The agreement in the amount of B/34, 000, of which ATP will put B / 12,000 and will last six months.

The destination studies determined its needs for air entry and exit of passengers. Additional considerations taken into account for the opening of the new flight, include:

1. Growth of tourism in the region.
2. The renewal of the Aeroperlas Regional fleet with 2 modern recently acquired Cessna Grand Caravan aircrafts, which by its capacity and efficiency, allow the opening of new markets, previously due to the size of the demand had not been able to be serve.
3. Pedasi has a landing strip in proper condition for safe operations.

“The good cooperation of the authorities of the ATP, and the excellent relationship we have with tourism entrepreneurs and investors in Pedasi, who have been actively involved in the opening of the route and are committed to its success, have been key elements for the opening of this new route, “said Rolando Pereira, Aeroperlas Regional Commercial Manager .

Article courtesy of the Tourism Authority of Panama

Donald Trump is preparing to develop a 62 story hotel and apartment tower in the Punta Pacifica district of Panama City, Panama. Trump Ocean Club International will offer 300 hotel rooms, 500 luxury apartments, a casino, a full service spa, a yacht club, and a private beach on Isla Contadora. Panama property investment is getting pretty wild.

The project is expected to cost around $200 million and with construction slated for the end of the year should be completed by 2009. Units are going for $250,000 to $450,000 for one to three bedroom condominium units and furnished hotel condominium properties will cost around $250,000. This is the first time that the Trump Organization has invested in Central America.

But why is Trump Investing in Panama? Trump said his interest in Panama property investment began a couple years ago when he was in Panama City for the Miss Universe Pageant. It’s no surprise anymore that Americans are flocking to Panama. Low interest rates, political stability, a low cost of living, and the country’s location beyond typical hurricane paths all make Panama a great place to live. Baby boomers in particular are finding Panama an attractive destination.