Door opening for Walmart in Panama?

NEGOTIATIONS are being promoted with the US Walmart chain for the installation of a distribution center for Latin America in the Colon Free Zone.

Panama reserves supermarket operations for local companies, so there could be confusion over the news report from Prensa.com, says PanamaAmericaData. The La Prensa report says “… Through a letter signed by Panamanian President Juan Carlos Varela, a group of businessmen, headed by the general manager of the Colon Free Zone (CFZ), Surse Pierpoint- are seeking to attract the attention of executives at Walmart US to install a distribution center for Latin America in Panama “, indicating the ColonFree Zone (CFZ) as ‘the right place’.”

The move by entrepreneurs from the CFZ could be understood as a way to bolster their arguments as part of the pressure being exerted on the government for the CFZ to be accorded the same tax privileges as other zones in the country. Beyond this, it is clear that a market opening for Walmart in the large scale retail sector will be on the negotiating table, something which up to now has been rejected says PanamaAmericaData

Severo Sousa, president of the Logistics Business Council, a member of the group of entrepreneurs that is driving the initiative, said “… “I always thought it was a good idea to attract Walmart, to sell them the benefits that Panama has to offer, so that they will set up here, and have it as a flagship company to attract other businesses of this type to the country.”