Wednesday, May 23 2018

VietNamNews

Panama celebrates independence

Update: November, 03/2014 - 08:55

Bridging gaps: The Americas Bridge and a vessel in the entrance of the Panama Canal water way in Panama City (Pacific side). — Coutersy Photo of Panama Embassy

The country's ambassador to Viet Nam, Servio S. Samudio, wrote to Viet Nam News to honour its 111 years of freedom from Colombian rule

Located in Central Ameri-can, the Isthmus of Panama covers 75,517sq.km and has a population of nearly four million.

Today, the Republic of Panama commemorates 111 years of independence from Colombia. The new Republic emerged on November 3, 1903.

The isthmus has become a "bridge" for the service of all the peoples and nations – and has played a significant role due to its strategic location.

In the 17th century, it was characterised during by mercantile activity, prolonged until the early 18th century.

Today, the economy of Panama has become the most competitive in Latin America. From the beginning, we have appreciated that progress should be based on a joint effort between the public and private sectors, firmly based on principles of a free market combined with a strong sense of social responsibility.

Panama is also currently highlighted as one of the best places to establish businesses for multinational operations.

Foreign direct investment (FDI) has tripled to US$4.6 billion since 2009, and the degree of investment in bonds has been maintained.

As a result, Panama is now one of the world's most important centres for banking and other financial services. The number of tourists visiting our beautiful country is now more than 2.2 million a year.

In the past five years of strong economic performance, Panama has reduced the number of unemployed rate from 6.6 to 4.1 per cent. Inflation has been controlled, and the number of people affected by poverty has steadily declined.

Billions of dollars have been spent on new hospitals, an improved and expanded system of transport, schools and other social services.

The first subway system in Central America opened in Panama City in April this year.

Also, we hope that new air terminals will become the most important in the region. Panamanians will ensure that the expanded Panama Canal will have a prominent place on the agenda, especially this year we celebrate its 100th anniversary of its inauguration.

The canal is open to worldwide commercial shipping.

Panama has a wonderful history of accomplishments. But the most important fact is that the country has now the energy, dynamism, and confidence to continue, contributing significantly to regional hopes.

We believe deeply in the unique beauty of our people, the opportunities, and the potential of our country, Panama. — VNS



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