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Supported by the broad trade and logistics industry that has sprung up around the canal, Panama is undertaking a number of major infrastructure projects to improve the standards needed to become a global connection or logistics hub, in addition to promoting foreign direct investment and maintaining the economic growth rates seen over the last five years, which have averaged 9%.
INCLUDED IN THIS MONTH' EDITION:
The benefits of being a connection hub
By 2020, some 500,000 new jobs are expected to be created, along with continued economic growth of between 6 and 9% per year.
Investments of over US$2 billion are currently being made in seven different ports, which will be expanded in the coming years to sustain the impact of the canal expansion.
It is estimated that the aviation sector alone contributes US$1.28 billion to the local economy, accounting for 4.1% of GDP.
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