The administration of José Raúl Mulino will request all legal and financial documentation on the purchase and sale of the ports of Balboa and Cristóbal.

The Cabinet Council approved the appointment and instruction of Luis Roquebert, current Administrator of the Panama Maritime Authority (AMP), to request from the company Hutchinson Holding, all legal and financial documentation on the purchase and sale of the ports of Balboa and Cristóbal by Black Rock MSC.

According to the Minister of the Presidency, Juan Carlos Orillac, the measure is taken because the Panamanian government has no knowledge of the transaction between these two companies.

"It is through national and international news media that the Government of Panama has learned that the company is in the process of buying and selling the 90% of the share capital that belongs to Hutchinson Port Holding," Orillac said.

The official said that the Government believes that such documentation is appropriate for the corresponding analysis and thus guarantee the public interest that must prevail in these ports. However, he clarified that the Government always welcomes foreign investment.

"It is an inalienable right to protect and guarantee the best interests of our citizens through the exploitation of public assets such as national ports, in addition to their economic potential," explained Orillac.

The minister added that they will be sending the resolution to the Official Gazette for immediate publication. Regarding the question of whether Panama is willing to sell its 10% share of the concession, the official simply said: “It is not an issue that is being looked into in this regard.”