A quick solution for the million of people currently seeking employment in the country, according to the president of the Chamber of Commerce, Industries and Agriculture of Panama (Cciap), Juan Arias Strunz, is the mine. It can easily insert up to 50,000 people into the labor market by 2026, depending on how quickly a decision is made about its future. For this, a comprehensive audit is already underway, which will allow Panamanians to understand what is within the operation zone.
He pointed out that Panama needs to reactivate its economic engine and generate formal employment positions to achieve greater family stability and circulation in the country, aspects that the industry, which was shut down in November 2023, precisely offered.
“Panama's most important export product, which was copper, is gone. It is internationally known that a company that invested a lot of money is not operating at the moment; that does not create confidence,” he emphasized.
Arias Strunz believes that Panama can imitate the experiences of countries like the Dominican Republic, Colombia, Peru, and Chile, where the industry develops sustainably and coexists with other activities.
Although the businessman acknowledged that the decision on its possible reopening and new business model with the company rests solely with the Government, he stated that doing nothing should not be an option because the mine already exists and leaving it as is would not only cause environmental damage but also economic damage. Therefore, it is necessary to make the most of the minerals found in Panamanian soil.
“The returns that Panama can get from its copper are extremely high. We would create jobs, the economy would circulate, and at the same time, we would generate funds to invest,” he stated.
Report
The Ministry of Environment reported this week that the company SGS Panamá Control Services Inc., in charge of the mine's audit, delivered the first progress report, corresponding to the initial phase of the process.
The president of the Cciap stressed that the country's credibility at the international level is fundamental to attract investment and generate employment, especially because the country has the rest of the necessary components (special laws, democracy, dollarization) to meet said objective.
The institution clarified that in this phase, findings or conclusions are not issued, since the audit is in the information gathering, validation, and analysis phase, prior to the start of field verifications.
“The mine can be a catalyst not only for jobs, but for economic circulation,” he stated.
He detailed that the mine, just in purchases from suppliers, represented around 800 million dollars, income that has not been perceived for two years and that are obviously needed in the country.
This document exposes the activities carried out during the first work period, focused on inter-institutional coordination, document review, detailed technical structuring of the audit, and definition of the work methodology, in accordance with the established terms of reference.
Statistics
Figures from the National Institute of Statistics and Census (Inec) reveal that there are 202,609 unemployed people in the country, generating an unemployment rate of 9.5%, and it is expected that in the coming months it will reach double digits, one of the highest rates in 20 years.
