via PRNewswire

During a sluggish economy here in America, real estate developers are finding a growing number of intriguing opportunities overseas. With the Wall Street Journal recently reporting a rise in unemployment in all but two states last month -- and with economists predicting it to increase even further -- the sliding economy continues to severely cripple domestic real estate development.

"The reality of what's going on is that there is no private development going on in the U.S.," says Randy Johnson, AIA, Principal of 4240 Architecture Inc., an award-winning national design firm contracted by Amble Resorts for their new Panama resort project, The Resort at Isla Palenque. "At the same time however there are exciting prospects overseas."

Properties in Panama are emerging to present those prospects to American developers. Panama enjoys one of the fastest-growing and best-managed economies in Latin America. The expansion of the Panama Canal, combined with a blossoming free trade agreement with the United States, is expected to continue to boost economic expansion and real estate development.

Founder and President of Amble Resorts, Ben Loomis, has been well-aware of the growing economy in Panama compared to the slowing economy here at home. That's why in 2007 he selected a Panama real estate project for his newest venture: The Resort at Isla Palenque. The resort will be comprised of an ecologically and culturally sensitive hotel and string of environmentally sustainable vacation homes. Amble will break ground on the eco resort project in early 2010. Loomis said of Amble, "Although the economic climate is not the only reason we chose to build our property in Panama, we were definitely attracted to the growth and stability there."

And Amble Resorts is far from alone in this sentiment. American companies are flocking to Panamanian development projects in droves. Several top-tier U.S. firms have joined forces with Amble on this new eco-tourism-focused Panama resort project. In addition to 4240 Architecture, East Bay Group, Design Workshop, and RCLCO are also among the distinguished firms teaming with Amble to take advantage of Panama real estate.

"In the last couple of years, domestic projects have fallen off dramatically," says Rick Reikenis, P.E., Principal for East Bay Group, a renowned engineering firm. "We are very excited about the possibilities in Panama and our current projects there."

Panama and the US are working together to build a better and safer Panama. The United States Agency for International Development (USAID) and the Government of Panama, through the Ministry of Economy and Finance (MEF), have signed a $9.2 million dollar assistance agreement for the objective governing justly and democratically. The funds will promote the positive development of youth in Panama.

US Ambassador Barbara J. Stephenson emphasized that “Safe streets, education and democratic institutions are the pillars that unite communities here in Panama, just like in the United States and that they will serve as support for continued prosperity and growth.” She added: “There is nothing more important than future generations for the sustainable development of a country.”

Minister of Economy and Finance Alberto Vallarino Clement explained that the assistance agreement was reached thanks to “the coincidence of objectives” between the governments of the United States and that of President Ricardo Martinelli in Panama. The funds will go towards programs to keep youth on the right track in tough barrios of Panama City, Colón and specific concentrations of at-risk populations in Darien and Chiriqui. Scholarships will also be awarded for students to further their education nationally and abroad. Special training will also be given to Panama’s police force.

Vallarino pointed out that this effort is also complemented by President Martinelli’s “frontal attack on crime”, which started out with a raise for police officers. Of the $9.2 million dollar assistance agreement, $7 million was a non-refundable donation by USAID and $2.2 million was apportioned by the MEF.

By Andrea James - Aerospace News

Panama's Copa Airlines has ordered 13 Boeing 737-800 airplanes and has options to purchase another eight, the airline and Boeing said.

The order is made up of a mix of option conversions and new orders. Copa's total orders for the single-aisle 737 now stands at 27.

The listed price of a 737-800 is between $72.5 million and $81 million, though it is common for airlines and manufacturers to work out discounts.

Boeing Commercial Airplanes CEO Scott Carson attended a ceremony in Panama City on Thursday to celebrate the order.

"Copa Airlines continues to be successful in a very challenging economic environment through the use of the latest in commercial aviation technology," Carson said during the ceremony, according to Boeing. "With this order, Copa will be one of the early beneficiaries of Boeing's recently unveiled 737 performance improvement package."

Boeing had announced earlier this year design improvements in its Next Generation 737s to enhance efficiency and make the interior more appealing.

Copa was the first carrier in the Americas to use blended winglets, or curved wing ends, on its 737s, according to Boeing. Copa flies four of the world's longest 737 routes to Buenos Aires, Santiago, Sao Paulo and Los Angeles.

"The Boeing 737s have been a major factor in Copa's success, providing us with operating and cost efficiencies, and enabling us to offer our passengers world-class service and an extensive route network throughout Latin America," said Pedro Heilbron, CEO of Copa Airlines, according to Boeing. "This aircraft order reaffirms our confidence in our business model and the growth potential of Latin American aviation."

As the tourism industry grows in Panama, standards need to be set to ensure safety and to keep costs low. Adventure tourism is one niche that needs regulation according to Jaime Cornejo, planning director of the Tourism Master Plan at the Panama Tourism Authority (ATP).

Setting norms and security standards will protect the lives of thrill-seekers, says Cornejo. Only between 3% and 7% of tourists are considered eco-tourists according to the World Tourism Organization (WTO), but as more people discover that the isthmus is a great place to find untouched wilderness, it is necessary to define areas that are apt for adventures, identify dangerous rivers and keep tourists inside safe bounds.

In recent years, says Cornejo, the ATP has had to rely on International Red Cross procedures and carry out costly rescue missions to retrieve stranded adventurers.