Panama Maritime Authority increases its revenues by 34% in September
Posted on 2021-10-01
The Panama Maritime Authority (AMP) announced a 34% increase in its revenues during the month of September of this year, reaching 133.4 million Balboas. During 2020, the AMP's revenue was 99.2 million in the same month. The collection is the highest in the last 10 years according to the agency.
The AMP established, at the beginning of the year, a new financial strategy to increase its income, focused on the growth of the fleet of vessels of the Panamanian Merchant Marine, Renewal of Marine Licenses, Port Services, incentives for the generation of new concessions and operating licenses, effective management of consular collection, among others.
In addition to the above, the Panama Maritime Authority carried out a modernization of processes, which includes business intelligence, new services, effective collection management and efficient use of resources with actions to save expenses.
These financial results allowed the AMP to transfer 65 million Balboas to the central Government of Panama, complying with 100% of the budgeted transfers until October 2021. Maritime services represent one of the main engines of the Gross Domestic Product of Panama, which is reflected in the 2,710 million Balboas that have been collected by the entity since its creation in 1998, which in turn have translated into 1,705 million Balboas for social works in the Central American country.
Source: Portal Portuario
