The Canal will be Busier than Ever, and Smithsonian opens climate change lab in Panama – Weekly News Roundup, September 26th.

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Welcome to the Panama Weekly Offshore Roundup! Here’s the latest.

Whatever Happens to Panama’s Economy, Its Canal Will Be Busier than Ever

Just a few months after the long awaited completion of the Panama Canal Expansion, the economic outlook is very good for long-term growth. And when it comes to Panama, this is critical.

A new, extended route could help strengthen the country’s economy in the future, according to President of The College of Economists Olmedo Estrada. He did an interview with international agency EFE this week, in which he said the canal could result in growth by as much as 5.2 percent for the remainder of the year. The Comptroller General released figures that show Panama’s economy expanded by 4.9 percent during the first six months of the year.

Source: PanAm Post

Smithsonian opens climate change lab in Panama

Climate change is a global concern, and Panama is one of the countries that will get affected the most by it. This is why it comes as great news to know that the Smithsonian Institute is picking Panama as the location for one of their main climate change research labs.

Billed as the largest scientific laboratory in Central America, it will monitor carbon dioxide levels and study how trees are changing with the changing climate, said Matthew Larsen, director of the Smithsonian Tropical Research Institute. Funded by private donations and US government funds, the Washington-based institute’s latest venture is located in the central Panamanian town of Gamboa, along the route of the Panama Canal. It will also study the impact of climate change on animals, officials said.

“We are extremely happy with this investment by the Smithsonian in Panama because it expands our capacity for studying ecosystems and helps better understand our biological diversity,” Panamanian Environment Minister Mirei Endara told AFP.

Source: Phys.Org

Meet The Man Building A Plastic Bottle Village In Panama

Plastic bottle waste and littering are two problems in Panama, especially on and near the country’s beloved beaches. Luckily, one man (an expat) is taking a stand, and using this refuse to build sustainable housing for Panama’s most needy.

Surrounded by piles of bottles, Bezeau started wondering if they could be used for something new—a building material for houses in what he calls the Plastic Bottle Village. In a new short documentary from Mel Films, filmmaker David Freid visits Panama to see one of the houses now under construction. In Bezeau’s design, the bottles are stuffed into simple cages made of wire mesh, and then built into a second cage made from steel rebar. The bottle-filled boxes become insulation for each house, and are covered with concrete.

A large house can contain about 20,000 bottles—more than an average millennial might use in 80 years. Bezeau suggests that buying a house would cancel out the negative effects of a lifetime of throwing out bottles, though the house doesn’t solve the problems that come with making bottles in the first place. Still, it’s a cheap and readily available insulator—and tossing bottles into cages doesn’t take electricity, unlike recycling.


Why Choose Panama to Live, Invest, or Retire?

When looking to invest offshore, or move and retire to another country, there are lots of options to choose from. There are also plenty of factors to consider before you make the big move. We truly believe that Panama’s your best choice, and back it up with great precedence and current data. Check out more on why we think Panama’s the right choice, from our website.

1. Advantageous Fiscal Platform For Offshore Business – Panama has no capital gains tax on offshore investments, no interest income tax on offshore bank account interest, no offshore income tax, etc.

2. Favorable Incorporation Laws – the corporate laws of the country should enable you to hold “Bearer Shares”, have directors from any country, inexpensive, and be able to incorporate Private Interest Foundations like Panama does.

Continue reading about living, investing and retiring in Panama.

About Manoj Chatlani

Manoj Chatlani is a Senior Partner at POLS Attorneys, a full-service law firm in Panama City, Panama. Specializing in offshore services, including asset protection, estate planning, offshore banking, and offshore corporations, as well as Panama immigration and real estate transactions, POLS Attorneys offers clients a streamlined solution to all their Panama legal needs. Manoj is a Panamanian lawyer and holds a law degree from USMA and earned a Masters in Communication Law and Panama Tax law.

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