Assembly stalls Colon incentive projects

TWO KEY  government initiatives remain on the backburner in Panama’s National  Assembly despite lobbying by  the executive.

One, is to establish  a free zone in downtown Colón and another to create incentives for the construction of a port in Corozal, were Neither were approved by the National Assembly during its most recent session reports La Prensa.

Minister of Commerce and Industry Melitón Arrocha said that progress on the bills was halted due to objections made by some legislators from that region. One of  the stumbling blocks was the demand for an expanded free zone area.

The Corozal project, which has been supported by the Panama Canal Authority (ACP), was rejected by five members of the Committee on Public Infrastructure.

ACP Manager Jorge Luis Quijano warned that delaying action on the port project would negatively affect the authority. The project is also supported by the Association of Panamanian Business Executives.

The  project is to modify  the law that created the original Colón Free Zone is also stalled.. The intention of the law is to try to revive economic activity in the zone, which has been hurt by problems with  Venezuela and Colombia.

The discussion of this project ground to a halt in the Commission of Economy and Finance, because users of the free zone and some deputies are demanding that its benefits match those offered by the free zone in Panama Pacifico.

The National Assembly begins its next regular session in January.