REAL ESTATE. Why not Panama?
By Edwin Davis
When the computer fingers get tired it’s nice to hear from readers, especially when they submit a complete article for publication.
Newsroom welcomes contributions from readers, but stresses that views expressed are the views of the writer. Today’s contribution follows.
A reader’s viewpoint
Without a doubt, Ricardo Martinelli is definitely the man of the hour. Compared to his predecessors, Martinelli is today’s biggest reason why Panama is becoming world investors’ and retirees’ destination of choice.
Without going into a long article that you have already read a 100 times before as to why you should choose Panama, lets talk about why not. Why not choose Panama because of its solid banking, why not choose Panama because of its roads and transportation system as compared to the rest of Central America, and why not choose Panama due its telecommunication and the increasingly seen underground infrastructure? All are very important and all have proven to be the best in Central America. This coupled with the low cost of living and high quality lifestyle, ask yourself why not.
Now add to the list Panama’s fearless leader Ricardo Martinelli. He has been known to be the “man with a plan”. He only has five years to do what he wants to do. That is to establish a legacy that will be talked about around the tables of every Panamanian and Expat household for years to come. He has 5 years to impact Panama and the world. Five years is not a long time and therefore we have literally seen the new President hit the ground running.
We have already seen a few of the items on his to do list a reality. The Diablo Rojos are soon going to be a hazard of the past. They have already been replaced with the new and sleek looking transit buses that can be seen throughout the Balboa and Cinta Costera region of the city. The new transit system will also include the first phase of the new metro subway system that will run from the North East area of the city through to Albrook with 13 stops along the route.
New highways, extension of highways and the extension of the already very much appreciated Cinta Costera are also seen on the 5 year to do list. The building and renovation of these roads and thoroughfares not only will alleviate traffic, but they are already creating jobs. Panama has an unemployment rate of 6% and falling. Compared to the rest of the world where 10 – 12% is considered stable at the moment.
200 million dollars is being spent on the upgrading of many local and international airports and landing strips. Enrique Malek Airport or otherwise known as David is getting a 27 million dollar facelift, while Rio Hato is soon to become the interior’s International Airport. Tocumen will see the creation of a new airport city; that will feature golf courses, hotels and shopping for tourists and travellers. Howard Air force Base the centre and core of the New Panama Pacifico that has international companies moving in every week will also see a big chunk of the airport improvement fund. This incredible new city on the west side of the Bridge of the Americas is what has everyone clicking their heals in excitement and anticipation. International Corporate exposure means economic growth for years to come.
You can now take Garbage and Recycling off of your ‘cons’ list. Martinelli is cleaning up the Bay of Panama, he has begun the process of a country wide recycling program, including educating the next generation and imposing litter fines throughout Panama. He is also looking to improve the habitat by creating wildlife conservation centres. He has implemented a 4 year hiatus on any further beach front construction to protect Panama’s coveted Pacific and Caribbean shores.
Education is also on the 5 year plan. Martinelli has subsidized books and supplies and is in the process of putting computers into every school that are running on alternative power. While Martinelli is a business man, his motto is “"I don't want a fat government and a skinny people, but the other way around,".
Unemployment is no longer an issue in Panama, a few tax breaks and pension subsidies see less people on the streets. The promotion of tourism and investment through simple initiatives such as free medical tourist insurance for 30 day and longer tourist stays, have all aided in putting Panama on the international investors map. Martinelli has put a simple formula into action. Enrich what Panama already has to offer and Educate the people and great things will come to pass.
Before you ask yourself again “Why Panama”, turn around as ask yourself “Why Not”.
