CrimsonLogic wins S$4.5M contract in Panama
ConvergenceAsia staff
02/10/2007

eGovernment solutions provider, CrimsonLogic has been awarded a SGD 4.5 Million (USD 2.9 Million) contract to build an electronic documentation system for the Colon Free Zone Administration in Panama.

Colon Free Zone is the second largest free trade zone in the world covering 400 hectares and with over 1,800 companies. It is located at the Caribbean entrance to the Panama Canal and is a major transshipment hub for Latin America.

Leong Peng Kiong, CEO of CrimsonLogic said this is another significant milestone for CrimsonLogic in Panama after delivering a USD 4 Million contract to build an Advanced Data Collection System for the Panama Canal Authority.

The electronic documentation system being built by CrimsonLogic will give the Colon Free Zone Administration a 360° view of the movement of goods within the free zone. Freight forwarders, customs brokers, importers and exporters will be able to file all their documentation to the Colon Free Zone Administration and the Panama Customs electronically through the system, hence eliminating the use of paper documents.

In addition, the system will interface with other stakeholders such as the Chamber of Commerce and banks for data sharing and/or approvals.

“With the automated workflow and streamlined processes, the 24/7 online system is expected to bring about considerable efficiency and productivity gains, as well as cost savings, to companies in the Colon Free Zone. When fully operational, the electronic documentation system for the Colon Free Zone will give a further boost to Panama’s position as an international trade and logistics hub in Latin America,” said Leong.

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