Netherlands to Invest More than $ 500 million into the Refining Industry of Panama

Dutch business sees great potential in the development of business in Panama. This year, the Dutch Vopak will invest about $500 million restructuring in the old mill refining, as well as an international hub for the distribution of petroleum products and related chemicals for energy production.

In addition to the production of "clean" energy, officials see great opportunities in the development of hydrocarbons in the province of Darien, where proven reserves are estimated at $90 billion.

Dutch business representatives and government officials has a great deal of interest in the development of Corozal port, which will take over big part of Canal traffic management. The Dutch Ambassador compares the port to what exists in Rotterdam and he thinks Panamanian port should be equipped as one of the world’s major marine terminals. There are obvious benefits to Panama, collaborating with Dutch Rotterdam automatically gives businesses access to the area with the population over 500 million.

The official also mentioned that over a third of Panama’s exports are currently passing through Rotterdam. There are also direct flights from the capital of Panama to Amsterdam in alliance with Air Aruba and Copa Airlines.

The Ambassador also made an emphasis on the high importance of Panamanian-Dutch relations, not only for both parties, but also for the Caribbean region: the need to maintain dialogue and cooperation between the two countries and further expansion of economic activities.

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