A draft bill for the advancement of naval financing has been presented to the plenary session of the Panamanian National Assembly.
The bill was introduced by Álvaro Alemán, presidential minister and Chairman of the Board of Directors of the Panama Maritime Authority (AMP), Jorge Barakat Pitty, Minister of Maritime Affairs and administrator of the AMP, and Jose Isabel Quintero, CEO of Public Registry of Ship Ownership.
Among other things, the bill seeks the creation of an attractive investment environment that would facilitate the establishment of shipyards for the construction of large ships, container ships, as well as offshore wind farms in the Republic of Panama. “Our privileged geographical position favors the development of these activities, which are not yet exploited in Panama,” AMP said in a press release.
A suitable environment for naval and maritime investment will generate a significant number of jobs. As a reference, about 7,500 workers are required for the construction of a Panamax ship, and the building takes about five years, AMP said.
Offshore WIND Staff