RAIN OR SHINE
TBY talks to Rubén Gómez A., General Director of Correos y Telégrafos (COTEL), on the role of the national mail carrier in promoting trade and adapting to technological trends.
Could you elaborate on the current state of development of COTEL's activities nationwide?
COTEL is an organization closely linked to the government, having been the social arm of the state for over 110 years. President Varela is committed to the social development of Panama and we form the logistical backbone. Our nationwide postal coverage, a branch network of 119 offices, provides a service to the most vulnerable and remote communities in Panama. Yet we are keen to expand our wide range of services further. One initiative we aim to introduce is the ability to pay taxes and other duties at post offices. We are currently undergoing a transformation process, as the Panamanian postal network is in need of a technological overhaul. We have plans to systemize the national postal network, which will enable us to improve our services to society. We also have plans to upgrade our fleet and provide increased security for postal products. We will be renewing our brand in line with the transformation process. Our new brand will be dynamic, reliable and modern, and one that inspires public confidence in our services that enhance the life of Panamanians.
Which part of the country is destined for the greatest proportion of investment toward this transformation process?
Our priority is macro, rather than micro capacity building. Having said that, it is obvious that Panama City requires the greatest investment, being the most populous part of Panama. The Chiriqui region receives a large number of tourists, so that will also be an investment priority. Additionally, the Darien, Herrera, Coclé and Colón regions require investment.
What is the company's portfolio within financial services?
Our financial services mainly focus on monetary transfers, including remittances, which can be executed either by phone or fax. We have seen considerable activity in this segment in the Darien region, where a high number of hotel projects are being developed. In Darien, each post office generates around $80,000-$90,000 from financial services.
How does the company engage with international partners to improve the services offered and further integrate itself within a global postal network?
We are currently holding talks with the International Postal Union for inclusion within the agreements system. We hope to sign agreements in countries that have sizable Panamanian expatriate communities, such as Cuba, Colombia, the Dominican Republic and El Salvador. We are affiliated to the International Postal Union as well as the Postal Union of the Americas, Spain and Portugal; we follow the international regulatory framework of both unions. The regulatory framework is established through a democratic process, where at an international congress, 190 countries together decide on strategies and implementation. Today's Panamanian postal service operates to high international standards.
What role does e-commerce play in your overall activity?
Panamanian society is no stranger to global trends, and e-commerce is becoming a common purchasing medium. We have developed a special service within this segment, namely Cotelbox. Through it, we receive the produce people buy online and then transport their parcels and orders. We are part of a global network and want to make sure users understand the benefits of selecting COTEL for their online purchases. Panama is an international country and we have to make sure we meet international demand.
What are your main objectives for 2015?
By the end of this year COTEL will be working within a pre-established budget. We have several challenges ahead, as well as objectives. COTEL was established to serve Panama and its people and we work to demonstrate that they are our top priority. Improving the working and living conditions of our employees is also a essential. We intend also to invest in COTEL's integrated logistics center, a physical meeting point for all our postal activities, to ensure operations are fast, efficient and secure.
RAIN OR SHINE
TABLE OF CONTENTS
Year In Review
What A Year
Impressive growth figures far ahead of the Latin American average are a testament to the government's business-friendly policies. The resolution of Canal expansion in 2015 should also provide a boost, with dollar appreciation the most dangerous shark in the water.
read articleInterview
HE Luis Ernesto Carles, Minister , Labor and Workforce Development
TBY talks to HE Luis Ernesto Carles, Minister of Labor and Workforce Development, on the current state of the Panamanian labor market, and the ministry's coordinated efforts with the private sector to train human capital.
read articleInterview
HE Alcibíades Vásquez Velásquez, Minister , Social Development
TBY talks to HE Alcibíades Vásquez Velásquez, Minister of Social Development, on the importance of developing high-risk groups in Panamanian society, and working with national and international organization to address illiteracy and unemployment.
read articleInterview
Carlos G. Fernandez, President, Chamber of Commerce, Industry, and Agriculture
TBY talks to Carlos G. Fernandez, President of the Chamber of Commerce, Industry, and Agriculture, on the Chamber's involvement in the nation's economy and politics over the decades, and the advantages the Panamanian market offers to international investors.
read articleInterview
Ricaurte “Catín” Vásquez, CEO, Central America and the Caribbean at General Electric (GE)
TBY talks to Ricaurte “Catín" Vásquez, CEO for Central America and the Caribbean at General Electric (GE), on emerging demand segments, modernizing the power grid, and the potential of LNG.
read articleFocus: LNG
Building Pressure
Today, LNG business is not a part of canal operations. The expansion of the canal, to be completed in April 2016, will open new routes for the transport of LNG through the waterway, offering interesting opportunities for the operators of the sector to enhance their business.
read articleInterview
Dr. Jorge A. Motta, National Secretary, Science, Technology and Innovation at SENACYT
TBY talks to Dr. Jorge A. Motta, National Secretary of Science, Technology and Innovation at SENACYT, on partnering with educational institutions, promoting innovation, and modernizing the private sector.
read articleInterview
Jose Ramón Icaza, General Manager, Mar Azul Project Management
TBY talks to Jose Ramón Icaza, General Manager for Mar Azul Project Management, on trends in the construction sector, the impediments to developing beach-front real estate projects, and consolidation and expansion.
read articleInterview
HE Jorge Arango Arias, Minister , Agricultural Development
TBY talks to HE Jorge Arango Arias, Minister of Agricultural Development, on the developmental strategy for the industry, the importance of utilizing new technology, and the plan to attract foreign investment in the sector.
read articleInterview
Vilma Moreno de Arias, Executive Director, Centro Medico Paitilla (CMP
TBY talks to Vilma Moreno de Arias, Executive Director of Centro Medico Paitilla (CMP) and Dr. Ramon Crespo Berges, Medical Director, on how the health sector is evolving, the importance of human capital, and future of the industry.
read articleInterview
Joaquin Villar-Garcia, Rector, Columbus University
TBY talks to Joaquin Villar-Garcia, President of the Directors' Council and Rector of Columbus University, on the evolution of education on Panama, important achievement of the university, and ensuring an internatioanl standard of instruction.
read article