Panama’s Colon Free Zone Administration will soon have a 360-degree view of the movement of goods within the second largest free trade zone in the world, thanks to an electronic documentation system that is being built by e-Government solutions provider CrimsonLogic ( www.crimsonlogic.com ).

The Colon Free Zone covers 400 hectares and has over 1,800 companies operating in it. It is located at the Caribbean entrance to the Panama Canal and is a major transshipment hub for Latin America.

The electronic documentation system will boost Panama’s position as an international trade and logistics hub.

The S$4.5 million contract to build the electronic documentation system was awarded to CrimsonLogic in September 2007. The system, which is scheduled to be deployed next year, will enable freight forwarders, customs brokers, importers and exporters to file all their documentation to the Colon Free Zone Administration and the Panama Customs electronically, eliminating the use of paper documents. The system will also 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,” said Mr Leong Peng Kiong, Chief Executive Officer of CrimsonLogic. “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.”

The Colon Free Zone project follows the successful delivery of a US$4 million Advanced Data Collection System for the Panama Canal Authority in 2004.

Mr Leong described the contract as a “significant milestone” for CrimsonLogic, and credited it to the strong support from the Infocomm Development Authority of Singapore and IE Singapore.

Ms Tham Ai Chyn, Assistant Chief Executive (Industry & Cluster Development), IDA Singapore, said the CrimsonLogic win was a testament of the quality and innovativeness of Singapore's infocomm products and services. "IDA continues to work with our home-grown infocomm companies to promote the export of innovative infocomm solutions and expertise overseas and we hope this significant win by CrimsonLogic will spur other companies to venture beyond our shores," she said.