Welcome to the Panama Weekly News Roundup! Here’s the latest.
Sixth IFF Panama Reinforces Its Position in Central America
Panama’s IFF (International Film Festival) wrapped up this month, and as expected, it was a huge hit. In fact, many now consider it the premier film festival of Central America and the Caribbean.
When IFF Panama launched in 2012, the Panamanian film industry was slowly ticking over and the link between Panama and the world of cinema was limited to the occasional U.S. or international feature film shot in the country.
But over the past 5 years, under fest director, Pituka Ortega Heilbron and artistic director, Diana Sanchez, IFF Panama has secured its place as, without doubt, one of the most important festivals in Central America and the Caribbean. Along the way the fest has also helped consolidate the nascent Panamanian film industry.
Source: Variety
Panama Seen Regaining Crown as Region’s Fastest Growing Economy
Panama will regain its crown as Latin America’s fastest growing economy this year on a surge in trade through the newly-expanded canal and government investment in other infrastructure projects, the finance minister said.
Central American country will leapfrog the Dominican Republic, growing 5.8 percent in 2017, a year after the $5.3 billion expansion of the canal allowed the passage of larger ships, Dulcidio de la Guardia said in an interview in Buenos Aires.
“We are seeing an acceleration in the economy, product of the Panamanian economy being highly open and very tied to global growth,” de la Guardia said in an interview in Buenos Aires. “The global perspectives are much better this year than last year and that is generating a cascade effect in Panama, increasing the demand for Panamanian services.”
Source: Bloomberg
How IoT is keeping Panama Canal shipping flowing just in time
he Panama Canal sits between North and South America, enabling thousands of tons of shipping to avoid a detour around Cape Horn. Like the rest of the world, the canal relies on computer systems to keep it operating efficiently 24 hours a day, and those systems are undergoing a major overhaul that aims not only to keep them up to date, but also to help the Canal handle more traffic.
Quintiq, a subsidiary of Dassault Systems, which also has systems working at the Federal Aviation Administration (FAA), the International Space Station, and the UK’s Ministry of Defence, is the company handling the upgrade.
According to Quintiq, the new system means that, for the first time, the canal will be able to execute an entirely integrated operating plan for all its critical resources.
Source: ZDNet
5 Reasons You Should Retire in Panama, Right Now!
If you’ve been planning your retirement, and you’re ready to take the next step, retiring in Panama will be the best decision you’ve made in a long time. Retiring in Panama has so many positives, and so many opportunities, no matter what your budget or lifestyle choice. Of course, like anywhere, Panama isn’t perfect, and you may hit some speed bumps along the way. However, all in all, there’s no place like Panama when it comes to retiring. Here are five reasons to back it up.
Under Panama’s “pensionado” program, those who retire in Panama are legally entitled to a variety of benefits. These include discounts on food, domestic airfare, hotels, medicine, and more. As a foreigner, a retiree or person (over 18) with “lifetime” pensions may qualify for the Panama pensionado visa. You will also automatically receive these pensionado benefits if you’re a resident or citizen over 55 (women), and 65 (men).
Source: International Relocation Firm Blog
