Panama Will Recover Illegal Concessions
The government of Panama informed that they will carry on retaking concessions not authorized by law.
Thursday, July 9, 2009
After recovering the land reclamation project of Grupo F. last Tuesday, the Panamanian Government communicated that they will continue with these actions against companies not fulfilling their obligations to the State.
As the government negotiates with port operators, the Assembly decided to put this law, dubbed "equiparación" in Spanish, on hold.
The bill nullifies the validity of the modification arrangements or equivalents for the concession contracts authorized by the state over the last decade.
The ports argue that the new law, dubbed "equiparación" in Spanish, will make the port system less competitive.
The Industries, Commerce and Agriculture Chamber issued a statement requesting a veto of the initiative, known as "Equiparación" in Spanish.
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