Panama's President Says Port Contracts Will Not Be Issued to a Single Operator

Panamanian President Jose Raul Mulino said on Thursday that the concession of contracts to operate two ports held and operated for nearly three decades by Hong Kong's CK Hutchison Holdings will "never again" be issued to a single company, Reuters reported. Panama's Supreme Court last week nullified CK Hutchison's contract to operate two ports along its strategic canal through its Panama Ports Company subsidiary, ruling that the contracts violated the Central American nation's constitution by giving the company exclusive privileges and tax exemptions.
Panama
Hong Kong
Read more

Panamanian Court Strikes Down Hong Kong Firm’s Canal Contract

A top court in Panama ruled on Thursday that a lucrative port contract held by a Hong Kong company was unconstitutional, a decision that will most likely deepen tensions between the United States and China in Latin America, the New York Times reported. The decision against the company, CK Hutchison, could eventually clear the way for U.S. and European companies to operate the strategically important ports. Last year, President Trump backed a deal that would have transferred control of the Panamanian ports and many others to a group led by a large American financial firm.

Panama
Hong Kong
Read more