Panama Ports Company (PPC) has responded to the Supreme Court of Justice's ruling that declared its contract unconstitutional. The company and its investors state that they reserve all their rights, including the right to pursue legal and international remedies. PPC emphasizes that its contract, in operation for nearly 30 years, was the result of a transparent international bidding process. The company asserts that the court's decision is incompatible with the relevant legal framework and the laws that have governed its operations in the ports of Balboa and Cristóbal. Over 28 years, PPC has invested over $1.8 billion in infrastructure, technology, and human development, creating thousands of jobs and solidifying Panama's position as a world-leading port and logistics hub. PPC warns that the state's campaign against its concession is undermining Panama's reputation as a reliable jurisdiction and threatening the stability of thousands of families dependent on port activities. The company calls for coordination and respectful consultations to avoid disruption and protect the concession that provides high-quality services.
Panama Ports Company Challenges Court Ruling on Contract
Panama Ports Company stated that the Supreme Court's ruling on its 28-year-old contract lacks legal basis and threatens the country's economic stability and thousands of jobs.
