Panama's President José Raúl Mulino commented on the statements made by Panama Ports Company (PPC) during the international arbitration process. He called these allegations "infamous and lies". Mulino explained that the country has already hired international lawyers for its defense. The president also promised that in the coming days, he will provide details of what he called "the beauties of PPC", referring to information about the company. Earlier, PPC disputed the state's handling of the arbitration process, claiming that Panama requested a partial extension of the deadline despite previous statements that it had been developing a strategy for the ports for months. The company claimed there was a "sustained conduct" that impacted confidence, and mentioned the situation at the Balboa and Cristóbal ports, as well as the development of the arbitration. Subsequently, the Panama Maritime Authority took control of the terminals. Currently, the arbitration process continues, with PPC claiming at least $2 billion in damages, while the government maintains it has adequate defense. Mulino also added that the request for an extension was made because the notification arrived on a Wednesday and the response was due on Friday, so a postponement was requested, which he described as common. The government evaluated three international firms before selecting the one that will take on the defense. The president also announced that the government will issue a statement in the coming days detailing "the beauties of PPC". These statements came after PPC stated that Panama is harming foreign investment and the country's reputation as a destination for investors. The company also noted that the state did not file its response within the original deadline. The conflict arose after the Supreme Court of Panama ruled that no valid concession exists, considering the contract detrimental to the public interest.
