China Construction America expands into Latin America

Updated: 2015-04-30 14:25

(China Daily USA)

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China Construction America, or CCA, opens its Latin American Regional Headquarters in Panama City on Tuesday, marking a new milestone in the company's 30-year history of offering superior construction and real estate services in the Americas.

Tasked with supporting CCA's development and expansion in Latin America, CCA Panama is committed to contributing to the economic growth of Panama through participation in the nation's ambitious development initiatives.

Deputy Prime Minister Philip Brave Davis congratulated CCA on its expansion into Panama, one of the fastest growing economy in Latin America over the past decade. "This expansion evidences the fact that success comes only to those whose goals are so strong that obstacles act only as the investor," said Davis.

He acknowledged CCA's contribution to the Bahamian economy and commended CCA for its resourcefulness, expertise and professionalism. "For The Bahamas, we are grateful for the contribution of CCA in our efforts to improve our economy through foreign direct investment, the creation of jobs, and the provision of training opportunities," he said.

As the financier, investor and builder of the Baha Mar project, CCA has helped create thousands of jobs for the Bahamian people and hundreds of millions of dollars in revenue for local businesses.The company's most recent British Colonial Hilton Nassau hotel project is estimated to create 250 jobs during construction and 500 permanent jobs after completion for Bahamians, contributing $750 million to the Bahamian GDP in 20 years.

Permanent Representative Weihua Wang of China's Office of Commercial Development in Panamasaid he believed that CCA's expertise in construction and real estate will benefit the Panamanian economy, which will help create a more vigorous business relationship between China and Panama.

CCA President Ning Yuan said the Panamanian people and government have a done a great job maintaining such a strong economic growth over the past ten years.

"Their determination to continue boosting the economy and improving the people's lives is admirable. CCA is proud to be part of this remarkable endeavor and is eager to share its expertise, experience and resources with the Panamanian people," Yuan said. "By bringing premium products and services to Panama and other Latin American countries, CCA stands poised to contribute to theregion's grand development plans."

CCA Panama President David Wang believed that the prowess of CCA as contractor, construction manager, and investor would well serve the development goals and objectives of Panama.

"Over the past 30 years, CCA has started from scratch and grown into a top player in the US market," Wang said. "Its emphasis on localization and commitment to giving back to the communities haveenabled it to adapt to the local market very quickly. CCA will adopt the same approach in Panama to benefit the local economy and people while realizing its own ambition for the Panamanian market as well as the Latin American market at large".

On behalf of CCA, Wang expressed his support of two local charities, FundacionValorate and Special Olympics Panama. An MOU on a social housing project was also signed at the ceremony.

Since its establishment in Delaware three decades ago, CCA, the sole subsidiary of the top construction and real estate company in the world - CSCEC - has been committed to building mutually beneficial partnerships with various stakeholdersin the communities where it operates. Headquartered in Jersey City, New Jersey, CCA has become a top 40 contractor and a top 20 construction manager in the US with revenue exceeding $1.7 billion in 2014.