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Panama Canal Authority CEO Envisions Panama as theTransportation and Logistics Hub of the Americas

Date: 06-MAY-2010

Panama Canal Authority CEO Envisions Panama as theTransportation and Logistics Hub of the Americas PANAMA CITY, Panama, May 6, 2010 - Alberto Alemán Zubieta, administrator/CEO of the Panama Canal Authority (ACP), discussed the future of Panama as the transportation and logistics hub of the Americas. He also shared the benefits of an expanded Panama Canal to the shipping industry and international trade at the "Panama Business Forum: Making investments work in a post-recession world," held yesterday in Panama City.

During the forum, which covered global commerce, trade and transportation, Mr. Alemán Zubieta also underscored that Panama is building a new Canal to maximize its geographic position. "There are many opportunities to capture the value of our location, particularly by investing in logistics and infrastructure," said Mr. Alemán Zubieta. He added, "Panama offers something very unique to world commerce. It is a port with terminals in two oceans." He also spoke about how the Panama Canal is at the center of all this development and the ports on both ends of the Canal, including its network of services such as rail and roads, all contribute to building a solid foundation for Panama which is fast becoming Latin America's regional hub.

Today, Panama is in the midst of a booming economy and infrastructure development. A lot of companies have moved their regional headquarters and/or have set up shop in the capital, Panama City. Multinational companies have chosen Panama as their headquarters and investment destination of choice.

SSA Marine Chief Executive Officer Jon Hemingway and Seatrade Magazine Editor Bob Jaques also served as panelists and shared their insights at the session. Hosted by The Economist and attended by more than 190 executives, the Panama Business Forum fosters a debate among business leaders of trends and issues affecting the global economy and the business outlook for Panama.

About the Panama Canal Authority
The Panama Canal Authority (ACP) is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the ACP is based on its organic law and the regulations approved by its Board of Directors. For more information, please refer to the Panama Canal Authority's Web site: http://www.pancanal.com/. You can also follow us on Twitter: http://twitter.com/thepanamacanal.

The Authority's responsibility to the Panamanian people is paramount. The Canal belongs to the people and benefits from the Canal should accrue to as many Panamanians as possible. The Authority will plan its future so that it will continually contribute to the economic development and welfare of the citizens of Panama.


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