Home to around one-quarter of the country’s population of 3.8m, Panama City, the capital, has been facing aggravating traffic congestion for some time. Strong economic growth has resulted in increased automobile purchases, domestic migrations from rural areas and a steady flow of international tourists and businessmen – all of which add pressure...
Ever since the country wrested control of the Panama Canal in 1999, economic development has taken on several new dimensions including the rapid growth of the logistics sector. The country’s location at the epicentre of trade in the region, growing presence as a hub for logistics and trade, relatively small size and influential financial sector...
A geostrategic location and the presence of the Panama Canal make Panama a natural centre for transportation and logistics. In fact, the transportation, logistics and communication sector combined is easily the largest contributor to GDP, a fact recognised by the current administration. In its Strategic Economic Plan 2010-14, the logistics...
Following high economic growth and the massive volume of investment in infrastructure projects of the past few years, the insurance sector in Panama has enjoyed a prosperous period recently. It is the largest insurance market in Central America and, despite being a small economy, in terms of market penetration and insurance density lags behind...
A continued push to become a major transportation hub in the Americas goes far beyond Panama’s status as a logistics and trans-shipment point for goods traversing the canal. The government is also looking to establish the country as a major aviation hub, again drawing on its advantageous geographical position in the heart of the Americas. On top...
The insurance market in Panama has been going through an important change since 2012. With the approval of Law 12 of 2012, a new legal framework was created to regulate the sector, replacing Law 59 of 1996. The old law was considered outdated by private and public sector players, and the new one seeks to raise the level of the Panamanian...
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