Panama International Merchandise Mart (PIMM) is a project that will reach 1 Billion in investment.
PIMM will be a complex with more than 672 exhibition areas and deposits for merchandise. It will require more than 50 million dollars of investment in the primary stage of development.
The CFZ has grown rapidly to become the second largest free zone in the world, after Hong Kong. The CFZ, in existence since 1953, was a base for 460 companies in the late 1980s. Goods from foreign countries were landed and stored or repackaged there and shipped onward without being subject to Panama's customs duties.
According to La Prensa
"Un centro especializado para atender a comerciantes mayoristas operará en un área total de 37 hectáreas en Cristóbal, provincia de Colón, informaron sus promotores.
El Panama International Merchandise Mart (PIMM) consistirá en un complejo formado por 672 salas de exhibición y depósitos para mercancía, todo lo cual requerirá de una inversión de 50 millones de dólares solo en la fase inicial.
Al explotar toda su capacidad de crecimiento, el costo total del proyecto alcanzará los mil millones de dólares para 2015."