Friday, May 18, 2007

Panama Canal Should Favor the Panamanian Economy

Expansion of the Panama Canal will benefit Panama's economy, if it favors all its sectors.

The expansion of the Panama Canal will benefit Panama's economy only if, through its investments, it nourishes all sectors, commmented Juan Carlos Mastellari, president elect of the Panamamanian Association of Business Executives.

All activities related to the Canal's expansion must be done with the utmost transparency and offer equal opportunities to all businesses to participate, he added.

"One of the things that we must guarantee is that the purchasing of the supplies for the Canal project's contracts is done in Panama and not abroad," Mastellari said.

The contracts to expand the Panama Canal, costing from 5 thousand to 250 million dollars, should commencce in the last trimester of 2007, after appropriating the first bidding for its excavation.

Photos courtesy of the Panama Canal Authority

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