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Colon Free Zone: Panama repeals land sale law | Colon Free Zone: Panama repeals land sale law |
(about 13 hours later) | |
Panama's National Assembly has repealed a controversial law allowing the sale of state-owned land in Colon, Latin America's biggest duty-free zone. | |
"An error has been corrected," said assembly president Sergio Galvez after the measure passed. | |
The vote followed more than a week of violent protests in Colon and in Panama City in which at least three people died, including a nine-year-old boy. | The vote followed more than a week of violent protests in Colon and in Panama City in which at least three people died, including a nine-year-old boy. |
The government had argued privatisation would boost development. | The government had argued privatisation would boost development. |
"The law sought the best for Colon but it had little acceptance," wrote Panama's President, Ricardo Martinelli, on his Twitter account on Friday. "We will proceed with its definitive repeal." | "The law sought the best for Colon but it had little acceptance," wrote Panama's President, Ricardo Martinelli, on his Twitter account on Friday. "We will proceed with its definitive repeal." |
The legislation allowed the sell-off of state-owned lands in the Colon Free Zone. But the government abandoned its plans after concerted protests. | |
Opponents of the law included trade unions, members of the Colon Chamber of Commerce and a variety of civil society groups. Trade unions and residents said land sales there would cost jobs and push down wages. | Opponents of the law included trade unions, members of the Colon Chamber of Commerce and a variety of civil society groups. Trade unions and residents said land sales there would cost jobs and push down wages. |
The violent protests first started on 19 October, after the president signed the bill into law. | The violent protests first started on 19 October, after the president signed the bill into law. |
Looters ransacked shops, smashed store windows and stoned vehicles in Panama City and in Colon. | Looters ransacked shops, smashed store windows and stoned vehicles in Panama City and in Colon. |
Four days later the president announced that the government would scrap its plans to sell the land to private investors. | Four days later the president announced that the government would scrap its plans to sell the land to private investors. |
He said instead that commercial rents would be increased and the money reinvested in the region, as protesters had been demanding. | He said instead that commercial rents would be increased and the money reinvested in the region, as protesters had been demanding. |
The Colon duty-free zone is the biggest in Latin America but the region is blighted by poverty and crime. | |
Panama's economy has boomed in recent years, but sections of the population remain excluded from its commercial success. | Panama's economy has boomed in recent years, but sections of the population remain excluded from its commercial success. |
The city of Colon - one of the largest free trade ports in the world and in operation since the 1950s - sits at the end of the Panama Canal on the Caribbean. | |
The canal, linking the Atlantic Ocean to the Pacific, is Panama's main source of revenue. | The canal, linking the Atlantic Ocean to the Pacific, is Panama's main source of revenue. |
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