Panama Invests in Puerto Armuelles Port to Revive Economy

Panama is aiming to restore its "golden cup" status to the Puerto Armuelles area by starting with the construction of a multipurpose dock. This move is intended to address the loss of competitiveness and decline that, according to President José Raúl Mulino, are the responsibility of labor union groups. In the mid-2000s, they became a "mechanism of obstruction" to the development of the banana company, despite it being the largest employer in the region. "Our government is focused on recovering the economy, supporting and investing in strategic areas so that the private sector is the engine to activate new jobs throughout the country; this multimodal port is a concrete example of this," the president said. Mulino acknowledged that industrial sectors have made an effort to revitalize the area's economy but have not been able to match the banana company, whose contributions were not only financial but also social. He recalled that the same situation occurred last year in Bocas del Toro when 7,000 Panamanians lost their jobs due to an "obstructive and extortionist" union. "The banana company was the sole employer for the vast majority of Puerto Armuels residents until they kept demanding and demanding, and the company died, and so did Puerto Armuels," he stated. Mulino lamented that the attitude of these groups led to the departure of Chiquita Banana and the migration of thousands of residents who moved to other provinces to provide for their families. The construction is 70% complete and is expected to be finished by mid-2027. This structure will be an integrated logistics platform with a 16-meter draft to accommodate large vessels and diversify its cargo, fishing, and agribusiness operations. The project, with an investment of over 21 million dollars, will generate around 2,000 direct jobs; for which, a port training center is planned to benefit the local workforce.