The month of August closed with extraordinary results for the Panama Maritime Authority (AMP), a surplus of $9M over the accumulated budget as of the same date, thus demonstrating that its strategy “Facing the Sea” gives concrete results. The actual collection corresponds to $117.3M vs. $108.2M in the budget, which represents an accumulated compliance of 108% of its goal, which makes it possible to comply 100% with the contributions committed to the Central Government, which total $43M.
“De Frente al Mar” is the strategy with which this Administration began at the close of 2019 and focused on high impact points, which produce real nancial results, of which we can mention: we received a decreasing Merchant Marine eet, in the previous period the eet only grew 4.13M Gross Tons (GRT), while in only 3 years this Administration registers a growth of 19.8M GRT, which positively impacts the nances of the Institution. Likewise, the Balboa Shipyard was recovered and is now generating direct and indirect income, the port of El Agallito in Herrera was rebuilt, the oating dock in Puerto Pedregal, the passenger dock on Taboga Island, a gangway was installed in Puerto Pedregal for tourist vessels, initiatives that have an impact on a greater number of sailings and activities that contribute income to the AMP and the country.
In 2021, 47% of the AMP’s income came from foreign sources, $87.8M from services provided by the 53 private merchant marine consulates and 20 technical offices around the world. While the other 53%, $98.3M, came from the activity carried out locally in private ports, national ports, issuance of licenses, concessions and others.
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The Maritime, Logistics and Port sector is one of the most important components of the country’s Gross Domestic Product, where the AMP supports its sustainable growth by encouraging public and private investment. Last year the maritime works of the Panama Cruise Terminal were completed, receiving 15 cruise ships, and for this year there are already new conrmed reservations, which increases the AMP’s income. Likewise, the Institution is in the process of completing the renovation of the docks in Yaviza and Quimba in Darien, the Esterillo in Aguadulce, among others that will add to the revenues.
Meanwhile, public bidding processes have already begun for the Puerto Armuelles scal dock and the New Seafood Market in Pedregal Chiriqui, in order to promote economic activity and continue growing in revenues by the year 2023. The vision of this Administration, the joint work and the team of professionals that the Panama Maritime Authority has, are key to the achievement of the strategy “De Frente al Mar”, this is reected in the $2,880M that have been collected since the creation of the Institution in 1998, which has resulted in a contribution to the Central Government of $1,793M for social works in the country.
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