The name of the public work is the high speed corridor of Via Brasil, First Phase. Total investment of the building project is $217 million, involving 350 direct jobs and 500 indirect jobs. Total jobs created: 850 workers. Overall, unemployment rate in Panama has dropped to about 4.1 percent this year; the lowest in the history of the country.
Since 1962, when I moved to live in Panama City, Panama, I have not seen so much done by an administration in only four years. It will be one of the most productive administrations in the history of this small tropical country in the Isthmus of Central America.
Similar projects are underway in other parts of the city and the countryside, and scheduled be inaugurated before the current administration is over in July 2014. The largest public works is of course the modern subway which has an estimated cost of $1.8 billion. Concurrently Panama is expanding the capacity of the Panama Canal to accommodate Post-Panamax vessels. The cost of this maritime project is approximately $5.25 billion. That’s a lot for a tiny country like Panama.
I’m glad all of this is happening in my lifetime. It’s wonderful to be alive and witness all this progress being carried out on a 24/7 basis. During the upcoming days, I’ll post more pictures of this construction project for your information and understanding of what’s happening in this part of the world. Panama is much more than a canal. Good Day.
Lingua Franca 
Morning!
We loved seeing all the projects happening when we visited earlier this year. The mess was everywhere but as they say, you have to break a few eggs to make an omelet.
What does worry me is the cost of paying for it all and what happens to all the people who have been working on all the projects once they are completed? Many of the jobs will vanish when the “heavy lifting” is done, what will those people do? I hope the next administration has some good answers because that will guarantee continued grow for Panama.
jim
Morning Jim and Nena:
The mess is still here, but it is necessary to upgrade our infrastructure which will be badly needed once the Panama Canal evolves into its next phase of modernization, meaning accepting Post-Panamax vessels.
When all the current public works are over, there will be a generation of new jobs once the country steps into its next phase of development. The way I see it, Panama will become the commercial hub of the Americas. There will be many business opportunities here, similar to what happened in Singapore and South Korea. We are already seeing some of this, for example with the constant expansion of Copa Airlines.
If Mr. José Domingo Arias wins the next presidential elections in May 2014, there will be a smooth continuation of Mr. Martinelli’s development plans. For example the subway from Chorrera to Panama City, will be another important public work similar to the one in progress. The next mega-project will be the subway from Chepo to Panama City, and so move the wheels of progress.
A deep seaport is being planned in the Province of Coclé with an investment of over three hundred million dollars. We need to integrate the countryside to Panama’s development. Not everything should be upgraded in Panama City. The economic development should be across the board.
I’m very optimistic that the best is yet to come.
Regards,
Omar.-
There are big projects going on in Panama, when you go through the “Transismica” that used to be a very crowded way. Now you can see how the traffic is faster and you don´t see the big traffic jams as before. Also the expansion of the Panama Canal and many investments in Panama City says a lot about the economy of the country, I am very positive and glad for the good things happening in Panama.
Hi Joe:
Your comments are very true. Many good things are happening in this part of the world. When the expansion of the Panama Canal is finished, sometime in 2015, it will be a giant leap forward for the economy of this small country.
Thank you for your comments,
Omar.-