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Panama Celebrates 10 Years Of Canal Operation,
by Lorys Charalambous, Tax-News.com, Cyprus
Tuesday, January 05, 2010
Panama on December 31, 2009, celebrated the tenth anniversary of nationalized
operations at the Panama Canal, which continues to be instrumental as a vital
artery for global maritime trade.
A statement from the canal noted that “the canal has long stood
as one of the world's most recognized and respected engineering marvels and
a crucial link in the global supply chain. Building on this, the decade of Panamanian
stewardship and leadership has been evidenced by change, achievement and growth.
By nearly every measure, the Canal's role in world trade and value to global
commerce has increased significantly in the past 10 years.”
"Through trade booms and economic recession, the ACP has steadfastly provided
excellent service to our customers and world trade," said Panama Canal
Authority (ACP) Board Chairman and Minister for Canal Affairs Romulo Roux. "After
the handover in 1999 and shifting our business model from a profit-neutral utility
to a market-oriented business model, we never lost sight of our vision and responsibility
to global trade. I believe that has been a key tenet of the Canal's success."
After a decade of Panamanian management, ACP Administrator/CEO Alberto Alemán
Zubieta spoke of his vision for Panama's hopeful future.
"Reflecting over the past decade, I am proud of what we have achieved,"
he said. "Proud of the employees of the ACP, proud of our accomplishments
and proud of Panama. We have achieved goals that some thought were daunting
and overcome obstacles that, at times, seemed insurmountable."
Alemán Zubieta added: "I am honoured to have been granted the opportunity
to serve along 9,000 hard-working Panamanians, at a time of such importance
to Panama and the Canal. Indeed, the accomplishments of the past 10 years give
me the confidence to look forward with optimism. We continue to break new ground
with the expansion, the largest project since the Canal's original construction,
and we are on track for a 2014 completion. An expanded Canal will open new doors
for world trade and growth.”
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