Panama, with its iconic Canal, has been recognized as a masterpiece in logistics and maritime transportation. The Canal not only shortens distances, but also reduces costs and transit times for ships that use it. This reduction in travel times is essential in a world where speed and efficiency are imperative for economic competitiveness.
In addition to the Canal, Panama has one of the largest and most successful free zones in the world, the Colon Free Zone. This free zone is a magnet for commercial and logistics activity, facilitating the exchange of goods and services on a global level. The Colon Free Zone not only boosts international trade, but also encourages foreign investment and economic development in the region.
Panama’s strategic importance in the maritime sector is complemented by its first-class port infrastructure. Authors such as Michael Roe (2022) have highlighted how Panamanian ports, such as Balboa and Manzanillo, serve as “entry and exit doors for global trade, connecting Panama with markets around the world.” These modern and efficient ports are vital nodes in the global supply chain.
In addition to its physical infrastructure, Panama stands out for its legal and regulatory framework favorable to maritime trade. The country has modern and flexible legislation that promotes investment and protects the interests of actors in the maritime sector. This legal stability and predictability are critical to attracting investment and fostering sustainable growth in the maritime industry.
