"The Chinese side will take all necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies,"
"The new ruling ... lacks legal basis and jeopardizes not only PPC and its contract, but also the well-being and stability of thousands of Panamanian families who depend and indirectly on port activity but also the rule of law and legal certainty in the country,"
Panama's Supreme Court annulled the concession held by Hong Kong-based CK Hutchison Holdings to operate container terminals at both entrances of the Panama Canal after a comptroller audit raised concerns about a 25-year extension granted in 2021. The Panama Ports Company (PPC) said the concession resulted from transparent international bidding and argued the ruling lacks legal basis, threatening contracts, thousands of Panamanian families dependent on port activity, and legal certainty. China’s foreign ministry said it would take necessary measures to safeguard the legitimate rights and interests of Chinese companies but provided no specifics. The decision may align with U.S. efforts to limit Chinese influence over the canal.
Read at www.dw.com
Unable to calculate read time
Collection
[
|
...
]