Panama is investing $200 Million on airport construction, expansion, and rehabilitation on multiple airports around the country. The goal of this expansion is to increase tourism and business development. Along with the airport expansion is the metro subway line, metro buses, sidewalk & road repairs, new resorts, an influx of hotels, and convention centers. Panama is preparing to be the hub business and tourism in Central and South America.
Panama allocates $200 million for airport expansion
Panama’s government is investing more than $200 million in the construction, expansion, and rehabilitation of several airports in the country, with the aim of increasing tourism and contributing to business development, official sources said.
The Investment Management Program of the Ministry of Economy and Finance (MEF) said in a statement that among the investments in airport expansion, are most notably the new “North Wing” of the Tocumen International Airport.
This project demands an investment of approximately $100 million, and is currently in the works with 51 percent progress.
Within the framework of this expansion plan, the MEF indicated that studies are underway to build an airport city within this complex, with shopping facilities, hotels, golf courses, and other facilities, which is expected to place Panama among the top countries for international tourism.
Other airports undergoing improvements and expansions are the Marcos A. Gelabert Airport in Albrook, near the capital ($12.5 million investment), and the runway of the Howard Airport in Veracruz, on the outskirts of the city ($11.6 million investment).
The latter will support charter flights by tourists who intend to enjoy the beaches of San Carlos, Santa Clara, and Rio Hato, southwest of Panama City.
The MEF also says it will expand the Enrique A. Jiménez airport in the province of Colón, on the Caribbean coast, with an investment of $58 million.
Moreover, the entity is investing $27 million in the improvement of the Enrique Malek Airport of David, located in the western province of Chiriqui, which is currently 37 percent complete.