Randall Castillo Ortego leads the development of the Colon Free Zone in Panama through BridgeMarkets

A platform for digitizing and promoting online commerce for businesses in the Colon Free Zone (CFZ) is now in place. A national and international showcase has been created to accelerate the economic recovery, and has recently entered its operational phase. BridgeMarkets has around 12 companies on its board of directors and plans to continue expanding in the coming months with the incorporation of more companies. Randall Castillo Ortega, a successful Latin American entrepreneur, is co-director of BridgeMarkets and was present for the inauguration.

The aim of creating BridgeMarkets is to make it the most relevant marketplace for the CFZ. It generates an opportunity for change in this market and allows Colon and Panama to be more competitive. The Panamanian-born platform hopes to meet the needs that the commercial space has had for many years and which have worsened with the arrival of COVID-19. Explains Castillo, ?? BridgeMarkets began operations with its first phase or beta which includes the period of attracting companies interested in offering their products online. The second phase includes the online sales stage and is expected to start within the next 90 days. The second phase will generate traffic to businesses in the free zone. At the same time, the company plans to carry out phase three which adds a logistics component.

In the first half of 2021, CFZ’s trade movement increased 26.8% to $ 8.22 million, compared to $ 6.498 million in the same period of 2020. Re-exports amounted to $ 4.34 million, which is 28.6% more than in the first half of 2021. 2020, when they stood at $ 3.37 million. Imports, meanwhile, totaled $ 3.89 million, an increase of 24.8% from January-June 2020, when they stood at $ 3.11 million.

The CFZ has identified in digital transformation the way to improve the online shopping experience of its local and foreign customers, and therefore launched BridgeMarkets, in order to improve its business, which has been made worse by the COVID pandemic. -19. The platform considered categories of the best-selling products in the CFZ to offer in its online space, such as pharmacy, fashion or textiles, appliances, home and more.

BridgeMarkets also seeks to promote and expand the reach of CFZ businesses through proper digitization. It also hopes to create digital, logistical and financial channels that optimize the trade relationship between Asia and Panama (Latin America).

BridgeMarkets is a development of Golden Atlantic Group SA, which aims to digitize CFZ by creating technology products such as sales channels and mobile applications. It also implements technology in processes derived from online sales logistics and financial processes. It is supported by a group of professional entrepreneurs with extensive experience in developing technological solutions for commerce and brand development, who have joined this project in order to realize its vision and mission.

BridgeMarkets has devised a set of plans that will drive the growth of digital commerce in the CFZ. Currently, there are four major plans that help the business target its goals. The first is BridgeMarkets Plans, an initiative that creates plans specifically designed for all businesses to participate. Companies can list their products in the marketplace and have advanced features to optimize digital commerce.

Photography services are also available. Says Castillo, “One of the most important factors when selling online is being able to show the products in a proper and aesthetic way. For this, we have created photo products and lookbook services.

Social networks have become the calling card for businesses and individuals. Besides being a great tool for reaching the key audience and consumers of your product or service, good networking can help achieve business goals.

BridgeMarkets also offers advertising space packs on our website and advertisements specially designed for CFZ companies.

About Randall Castillo Ortega

Randall Castillo Ortega has been involved in the financial space virtually his entire professional career. In addition to having founded the financial loan company RACO, he is also an avid outdoorsman and, along with his family, is a big supporter of the community. He regularly participates in community ceremonies and events organized to foster a better environment for children and families.