Chinese giant Huawei opens its sixth distribution center in Panama

The giant Chinese Huawei today opened it's sixth global distribution center in Panama, from where aims to distribute the rest of the countries of Latin America 15 product lines and 1,500 access points per month.

"We have decided to settle in Panama not only by its geographical position, but also by its regulation and flexibility. They are very open with the multinationals. We feel comfortable and safe with Panamanian policies", said EFE Huawei's vice president for Latin America, Jonathan Zhang in the inauguration of the center.

This new distribution site of 10,000 square meters, is located in the Colon Free Zone (FTA), the free zone of the most important continent located in the Panamanian Caribbean.

The largest manufacturer of telecommunications equipment of the world, that during the first half of 2015 recorded sales of $28.7 billion, has five distribution centers: Brazil, Mexico, Dubai, Hungary and China.

With the opening of this center, Panama strengthens its position as the "commercial arm" of China in Latin America, said the Panamanian president Juan Carlos Varela, at the opening ceremony on Thursday.

"The message being sent today is that our logistics center, the Colon Free Zone, our ports and airports remain very competitive," said the President.

In the Colon distribution center 200 employess have begun to work, and in 2017 the figure is expected to increase to 300 workers.

The company refused to disclose the cost of the investment in Panama, but did advance that they expect to have some income in this center of $20 million in 2015, $160 million in 2016 and $190 million in 2017.

"What we call a distribution center is in reality much more than that. Panama will also be a testing and packing center", added the vice president for Latin America of Huawei.

The technology giant will use local materials to package products to the value of $20 million in 2015 and $160 million in 2016.

"This clearly demonstrates that the crises confronting the Free Trade Zone, product of the devaluation of the currency (dollar) and some situations in other markets, is transient," added Varela.

The Colon Free Zone, which represents approximately 8% of the Gross Domestic Product (GDP) of Panama and is home to nearly 3,000 companies, experienced a drop in their income in 2014 of 12.3 % and in 2013 of 10.9 %, which is mainly attributed to the economic situation in Venezuela and tariffs imposed by some re-exports to Colombia.

According to official figures, Venezuelan buyers owe the free zone vendors a total of 1.2 billion dollars.

This is Huawei's global website. http://www.huawei.com/en/

http://www.telemetro.com/nacionales/Gigante-Huawei-Panama-centro-distribucion_0_848916160.html

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