China Points To Panama's Reputation As An Investment Destination Where Law And Transparency Prevail

(MENAFN- Newsroom Panama) China hopes that Panama will provide a fair environment for companies from different countries and regions. China referred to Panama as an international investment destination known for its adherence to the rule of law and transparency in the business world, in the face of US pressure to remove Chinese companies that operate the Canal from the field and“regain” control of this strategic passage. “It is expected that (Panama) will provide a fair environment for companies from different countries and regions, including companies from the Chinese Special Administrative Region of Hong Kong,” said Foreign Ministry spokesman Lin Jian (pictured below).

The Hong Kong conglomerate CK Hutchison, owned by Li Ka-shing, pictured below, the richest man in Hong Kong and the eighth in Asia – has owned the Panama Ports Company (PPC) since 2015, which operates the Pacific port of Balboa, the second with the most container movement in the country, and the Atlantic port of Cristobal, the fifth on the list. Lin added that the government of the former colony, for its part, has already responded to the“issue” of Hong Kong companies that manage ports in the Panama Canal. The parent company of PPC fell 1.8% on the stock market today due to the stated intention of the US president, Donald Trump, to“retake” control of the Panama Canal in the face of alleged Chinese interference.

On several occasions, Trump has threatened to“take” the Panama Canal and has criticized the decision of the late former president Jimmy Carter (1977-1981) to negotiate the treaties that allowed the transfer of the canal to Panama, a process that was completed in 1999. China, meanwhile, has insisted that it does not participate in the management or operation of the Canal, which it recognizes as a“neutral international infrastructure” in whose affairs it has“never interfered,” according to a statement this week by the Chinese ambassador to the United Nations, Fu Cong. Panama is a destination for international investments.

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