The panama free trade zone also has as one of the worlds top banking industries. The 80% of these stores sell their products wholesale container load, bulk or by the dozen, the other 20% of stores will sell consumer products individually. Business incentives in the special economic zones of panama. Click to see more details about colon free zone statistics. The export processing zones were created by law no. It covered 553 square miles 1,432 square km, of which about onethird was. Choose a date and time then click submit and well help you convert it from colon, panama time to your time zone. Panama logistics web portal developed by georgia tech panama logistics.
The most renowned is the colon free zone, although the export processing zones amongst others are also considered free trade zones. The world wide web technology is the best and cheapest way to promote, network, communicate with the. Time difference between panama, panama and the world. During 2018, the value of exports, excluding those of the colon free zone, totaled usd 672. Strategic location only a few minutes from the main airport, maritime ports and near the subway station of felipillo from the line 2.
Special economic zones in panama harvards growth lab. Choose from 5 hotels and accommodations within a mile of colon free zone, including these picks. Tiba panama colon free trade zone avenida 2da, entre calle a y calle 1era, france field colon free trade zone panama phone. This gives cfz businesses access to credit and banking services that can help them reach higher levels of success. Want to see the time in colon, panama compared with your home. Freight forwarders and custom brokers in colon free trade. Pierpoint charts new course for panamas colon free trade zone. Many banks do business there because the panama canal plays such a key role in international trade. Gatun is a small town on the atlantic side of the panama canal, located south of the city of colon at the point in which gatun lake meets the channel to the caribbean sea. The colon free trade zone includes the largest port in panama.
Submit feedback contact us social media privacy policy foia disclaimer about us usa. Time differences regularly change as countries observe varying daylight saving time dst schedules. Put a free analog web clock for colon, panama on your page, customized to match your color scheme. Panama canal zone article about panama canal zone by the. Why panama colon free trade zone, panama pols attorneys. Utc is coordinated universal time, gmt is greenwich mean time great britainunited kingdom is one hour ahead of utc during summer. The majority share in the cargo generated through the colon free zone and a number of cargo airlines use the airport for special flights. Colon is home to 7 hotels and other accommodations, so you can find something with the amenities youre looking for. Each of them offer different kinds of tax breaks based on their intended purposes. Finally, panama s international banking center with over 90 banks from around the world, with deposits totaling u. Panama has the potential to become a major oil and downstream products redistribution center for two main reasons. The colon free zone, located at the atlantic entrance to the panama canal, is the focal point for sea and air cargo transportation in the hemisphere.
Goods from foreign countries were landed and stored or repackaged there and shipped onward without being subject to panamas customs duties. Fob colon free zone is a catalog and directory of companies, products and services offered in the colon free zone, republic of panama. The colon free zone is the largest duty free area in the western hemisphere and 2nd largest in the entire world, behind only hong kong and it has more than 2,500 companies operating inside. The cargo yellow aims to be the most accurate and friendly online freight forwarders, logistics services, cargo agents and moving directory for panama colon free zone, where companies can promote their services on a global scale.
The colon free zone, established in the mid20th century at the northern end of the canal, has become increasingly important as a manufacturing, warehousing, and reexport centre similar to the maquiladora districts of other central american countries and mexico. Originally it was located entirely on manzanillo island, surrounded by limon bay, manzanillo bay,and the folks river. Find their customers, contact information, and details on 319 shipments. Ordered, that the within code of civil procedure shall be in force within the canal zone on and after may 1, 1907. Business panama colon free zone and other free zones.
If youre planning to drive around colon, or if you want to leave your car somewhere safe to walk from your hotel to colon free zone, youll want to check out our deals on hotels near colon free. New safe city technology safeguards the colon free zone in. We use cookies to offer you a better experience, personalize content, tailor advertising, provide social media features, and better understand the use of our services. Shopping at the colon free trade zone panama city forum. The free trade zones in panama offer incentives that you may require for your business. Offering much more than just dutyfree wholesale shopping, however, the cfz draws upon the strengths of panamas. Download 970 colon panama stock photos for free or amazingly low rates. Understanding panamas colon free zone willamette week. The colon free trade zone, panama republic of panama in 1948 the republic of panama began a project to solve two basic needs at both the national and international levels. Colon free zone statistics panama logistics portal.
If you have a difficulty finding a right supplier, post your buying leads for free now. A majority of panama s trade transactions are carried out in the colon free trade zone, which is one of the biggest free trade zones in the world. Its location on the panama canal makes it an important port in the worlds cargo transportation. Time zone currently being used in panama time and date. One, the modernization of the economic service sector, and the other, a mechanism without precedent to streamline regional commerce on a large scale.
Are there hotels near colon free zone with parking. The cfz has grown rapidly to become the second largest free zone in the world, after hong kong. The colon free trade zone, panama republic of panama. Offering much more than just duty free wholesale shopping, however, the cfz draws upon the strengths of panama s. Choosing the right special economic zone in panama for your business needs depends. Why panama colon free trade zone, panama most other tax haven nations such as bahamas, st. Travelers like the surrounding area for its shopping.
The vision i have is for the old cities of panama to benefit from the investment that comes from incentives, and for investors to benefit when. If you want to be near all the action, and stay in a topnotch hotel, check out the melia panama canal, 3 miles 5 kilometers away. Kitts, nevis, vanuatu, bermuda, costa rica, belize, isle of man, etc. More than 15 banks have branches within the free zone itself. As part of the obligations of the free trade zone regime, beneficiary companies should present a compliance report on the commitments they have acquired on an annual basis. It was a strip of land 10 miles 16 km wide along the panama canal, extending from the atlantic to the pacific ocean and bisecting the isthmus of panama. Net compresor toyota land cruiser 2015189 10sr17c 8pk 12v 10 compresor subaru forester 2014114 dkv14g 4pk 12v valeo. A majority of panamas trade transactions are carried out in the colon free trade zone, which is one of the biggest free trade zones in the world. The cfz, in existence since 1953, was a base for 460 companies in the late 1980s. The colon free trade zone cfz offers a remarkable opportunity to u. With the new facility in the colon free zone, we are able to strengthen our position in a key market such as panama, being an important hub for.
Lala free zone colon zona libre colon zona libre, 507 panama city, panama rated 4. In a defined area of 400 hectares, the colon free trade zone is located at the caribbean entrance to the panama canal in the province of colon, and is considered the second largest free trade zone in the world and the largest of the western hemispere. Over the past ten years panama has been one of the fastest growing. Panama canal zone, former territory within panama, 553 sq mi 1,432 sq km, that was administered by the united states under a 1903 treaty with later amendments with panama.
598 515 1574 1363 910 1272 395 417 507 132 64 622 846 71 1131 1400 679 947 945 1065 1291 251 815 577 1368 1183 319 1358 1249 185 1430 195 1048 362 36 1228 391