Jan 18, 2016 09:30 PM EST
Japan and Panama have agreed to start a monorail project worth around $2 billion. The nations' leaders met in Japan to sign a memorandum of understanding on Thursday. After that, Panama president Juan Carlos Verela will once again travel to Japan in April to sign a final agreement on the 27-kilometer project.
The monorail, which is planned to start being prepared this year, will be Central America's first monorail. It will also be the largest Japan-supported infrastructure investment in Panama's history, according to Bloomberg.
The agreement stated that Japan will help finance the project. The financing will be channeled via Japan Bank for International Cooperation, which is backed by the government.
As for further terms of the agreement, Panama's vice minister of foreign affairs Luis Miguel Hincapie said that it's yet to be set. Hincapie also said that the president's visit to Japan this January is crucial as a framework for the final agreement, according to The Irish Times.
The monorail project, that would extend to the Central American nation's trans-oceanic canal, would have a significant impact on the nation's measure of transportation. Right now, a trip from the suburbs to the city center of Panama City can take three hours by car because of traffic. After the monorail is completed, the trip is estimated to would have only taken 45 minutes.
Furthermore, the project can also expand and strengthen existing business ties between Japan and Panama. In fact, according to Panama news media La Prensa, the president's trip to Japan will also focus on promoting business opportunities in Panama.
Japan is considered an advanced country when it comes to monorail transportation. Tokyo Monorail, built in 1964, is still operational and remains the world's busiest and often considered the most commercially successful monorail line. Osaka Monorail in Japan is also the world's largest monorail.
Previously, Japan has also offered to assist India in building their monorail. It is also known that Japan has been interested in cooperation with urban development sector. Their multimodal transportation includes metro rail, monorail and light rail transport.
It is yet to be decided which Japanese company will specifically be involved in this project, but it is reported that Hitachi Ltd. industrial group is highly interested in taking part in the project. Other than that, Mitsubishi Corp. is also showing interest.
The estimation is that the project will be finished after 5 years of construction and will be ready in 2022. The government's preliminary studies shown that the 27-kilometer long project will have 14 stations that will expand from Albrook to La Chorrera.
One of the significant advancements is shifting the payment operations for remote workers. If the compliances are not met, it may lead to severe legal complications. The owner and organization may be held labially separately. The remote working lifestyle continuously grows and is a testament to becoming an endless working mode. Today we discuss components for payroll for remote workers
BRG International Founder Matias Alem had recognized this fact for a few years. So he remodeled his real estate brokerage into something completely new to solve the problem for his jet-setting international client base.
Ryan Early, hailed as 'Farmer Ryan' among sustainable agriculture experts, is a busy man. He has a laundry list of companies to his name, including Blue-Green Ventures, the company behind the revolutionary product, Blue MagicTM, a non-toxic and eco-sustainable pest preventative product using his patented BiomeMax TM Pheromonal Replication Technology.
Investor, financier, and expert in both cryptocurrencies and blockchain technology, Joy Mbanugo is the go-to in the sector. She has vast experience and knowledge across tax services, auditing, business operations, financial analysis, capital markets, and other specializations.
When Nick Collins was just 14 years old, he started his first business, which included around-the-clock phone calls and numerous questions from his parents. In fact, he began building his stout portfolio in the seventh grade by doing web design, incorporating creative content with brand strategies and plugging in a then-fledgling tech Flash.
Barry Gabster is the founder of InitiateU and is a leading proponent of the marketing mailer revolution, having already taken his company to 10x growth in 2021, alone. In fact, the exponential growth has seen the company rise from $800K-$8.5M just on word-of-mouth referrals.
If you think that the micro accounts are useful only for beginners who may not be able to cope with the fast dynamics of changing quotes on trading platforms, then this is not so. Professionalism grows out of these cent accounts.
Journalists love their jobs because they get to interact with people from all sorts of backgrounds and expertises, then turn around and share their knowledge with the world.
As the metaverse takes over more of our digital lives, the commoditization of all aspects of our virtual beings becomes more and more of a reality.