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Interview

Juan Carlos Croston, President, Maritime Chamber of Panama: Interview
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Interview:Juan Carlos Croston How much will the number of trans-shipped containers be increased by the presence of post-Panamax carriers, once the canal expansion is complete? JUAN CARLOS CROSTON: Over the past decade, 13% to 14% of the world’s containers went through the Panama Canal. Peaks in growth are largely associated with reforms in the network offered by shipping companies, and it…
Interview

Jorge Luis Quijano, CEO, Panama Canal Authority: Interview
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Interview:Jorge Luis Quijano Do you think that rising costs in China are likely to push manufacturers to relocate to South-east Asia, benefitting the Panama Canal? JORGE LUIS QUIJANO: We are constantly evaluating cargo flows and the possible relocation of manufacturing plants, and have seen how the Association of South-East Asian Nations countries have developed. There has been a shift, but…
Interview

Rolando de León de Alba, General Manager, Banco Nacional de Panamá: Interview
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Interview:Rolando de León de Alba What changes will the implementation of the Foreign Account Tax Compliance Act (FATCA) have on Panama’s banking regulatory framework? ROLANDO DE LEÓN: The country’s banking system has already completely adapted to the implementation of FATCA. For a number of years, the local industry has been preparing for any changes that would come from the implementation…
Interview

Robert Williams, General Manager, Scotiabank Panama: Interview
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Interview:Robert Williams Is the June 2015 deadline going to leave sufficient time for Panama to adopt the Financial Action Task Force’s (FATF) legal framework? ROBERT WILLIAMS: After being included in the FTAF’s grey list, Panama presented a plan of action built upon six pillars: (1) adequately criminalising money laundering and terrorist financing; (2) establishing and implementing an…
Interview

Felipe Chapman, President, Bolsa de Valores de Panamá: Interview
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Interview:Felipe Chapman How will 2015 market growth compare to 2014? FELIPE CHAPMAN: The volume of transactions grew by 4.7% year-on-year in 2014, with trading close to $5.3bn. Secondary market activity increased due to a rise in transactions involving common shares and debt instruments – mainly private sector bonds. Meanwhile, there was a slight decrease in the volume of activity in government…
Interview

Jorge Vallarino Miranda, Executive Vice-President, Global Bank: Interview
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Interview:Jorge Vallarino Miranda How feasible is the integration of Central American capital markets? What would its benefits be? JORGE VALLARINO MIRANDA: It is certainly feasible, following the example of what has been done in other regions such as Europe or South America. It is important to take into account that countries in Central America have different regulations and tax regimes. These…
Interview

Mauricio de la Guardia, CEO, Internacional de Seguros: Interview
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Interview:Mauricio de la Guardia How much consolidation can be expected in the short-to-medium term, and what is the impetus for recent merger and acquisition activity? MAURICIO DE LA GUARDIA: There are currently 32 players in the market, so competition is high. That said, three companies dominate the market and account for the vast majority of the industry’s profits. Most of the remaining…

Interview

Aitor Ibarreche, CEO, Panama Ports Company: Interview
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Interview:Aitor Ibarreche What changes will local ports undergo in response to the completion of the Panama Canal expansion? AITOR IBARRECHE: Trade running from Asia to the east coast of the US continues to be the dominant contributor to the US container market. Currently, these containers arrive from Asia and are transferred at Panama’s Pacific ports. Once the canal expansion is complete,…
Interview

Abdul Waked, President, Grupo Wisa: Interview
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Interview:Abdul Waked How can distribution chains in Panama enhance efficiency to reduce the cost of logistics? ABDUL WAKED: Logistics implies product movement through the different levels of a supply chain, in a profitable and efficient manner. In order to achieve higher efficiency and profitability, adequate inventory levels must be defined at each level of the chain. Moving fewer inventories…
Interview

Ramón Arosemena, Minister of Public Works: Interview
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Interview:Ramón Arosemena Public debt rose to $18.23bn at the close of 2014, up by 16% year-on-year. To what extent has overspending on infrastructure contributed to this? How can cost overruns be avoided in the future? RAMON AROSEMENA: This administration is analysing projects awarded under the previous government and how tenders were awarded. The conclusion is as yet unclear in terms of…