TurkLaTam proposes a $300M investment to modernize Panama’s prisons, building three state-of-the-art facilities with a focus on security, rehabilitation, and human rights. In partnership with United Group and Fennix Global, the project aims to ease overcrowding and improve reintegration programs through a public-private partnership.
Modernize Panama’s Penitentiary System
Panama City, Panama – September 24, 2024 – TurkLaTam, a leading multi-family office and investment firm, has presented a groundbreaking proposal to transform Panama’s penitentiary system into a modern, fully compliant correctional program through a $300 million private investment. This ambitious initiative includes the development of three state-of-the-art correctional facilities, each with a capacity of 4,000 inmates, strategically located in Provincias Centrales, Panama Oeste, and Colón.
This initiative is designed to address Panama’s current prison overcrowding crisis by introducing a human-rights-focused correctional model that meets the stringent standards of the American Correctional Association (ACA). TurkLaTam is spearheading this effort in strategic partnership with Türkiye’s United Group, a major construction company, and Fennix Global, a world leader in prison technology and criminal justice solutions.
A New Era of Correctional Facilities
The proposed facilities will incorporate advanced security systems, rehabilitation programs, and sustainable infrastructure, ensuring compliance with international human rights and correctional standards. This initiative aims to enhance inmate reintegration programs, improve living conditions, and reduce recidivism rates through education, vocational training, and psychological support services.
“Our goal is to establish a correctional model that prioritizes rehabilitation and reintegration while maintaining the highest security and human rights standards,” said Chey Rodriguez, Co-Founder of TurkLaTam. “This investment is a transformative step toward modernizing Panama’s penitentiary system and setting a new benchmark for correctional facilities in Latin America.”
Strategic Public-Private Partnership
TurkLaTam’s proposal is designed as a public-private partnership (PPP), ensuring that the government of Panama benefits from private sector investment, expertise, and efficiency without bearing the full financial burden. This model will not only alleviate the strain on Panama’s public budget but also provide long-term economic benefits, job creation, and improved public safety.
David Sapir, Chairman of TurkLaTam, emphasized the importance of collaboration: “Through our strategic alliance with United Group and Fennix Global, we will bring cutting-edge technology and sustainable infrastructure to Panama’s correctional system. Our mission is to create a safer and more humane environment while contributing to the country’s economic and social development.”
Next Steps
TurkLaTam has submitted its proposal to the Panamanian government and is currently engaged in discussions with relevant authorities to finalize the framework for this transformative initiative. The company is committed to working closely with local stakeholders, human rights organizations, and security experts to ensure the success of the project.
About TurkLaTam
TurkLaTam is a multi-family office with a strong focus on strategic investments across Latin America and Türkiye. With expertise in infrastructure, security, and financial solutions, TurkLaTam partners with leading global firms to drive economic growth and sustainable development.
