The construction sector has announced three housing fairs for this year, expecting 100,000 people to participate and business deals to be struck worth $450 million.
The Panamanian Chamber of Construction (CAPAC) announced its schedule of trade fairs for 2016: Housing Expo will be held from 14 to 17 April; Chiriqui Expo from 12 to 16 August and CAPAC Expo Habitat, from 7 to 11 September.
Although the government is threatening to cancel concessions, aggregate traders have raised their prices by up to 17% in opposition to the tax on the extraction of construction materials in Panama.
Fourteen days after the start of collections of the tax on extraction of materials, increases of up to 17% have been recorded in final consumer prices in some retail outlets. The law prohibits the transfer the tax to the final price, but builders say that "... it is very difficult to control because it is an operating cost" in the case of housing prices and other real estate projects.
Organizations are being made in Panama City for a business conference to take place on September 10 for local and international companies in the construction sector.
The Panamanian Chamber of Construction (CAPAC) will be holding this event in the context of the CAPAC Expo Habitat with the purpose of "... providing a platform for international and domestic entrepreneurs to share, meet and conduct business on behalf of companies and the country. "
Panama may lose a lot of foreign investments due to the lack of qualified personnel for specialized jobs, even though it has the infrastructure and an excellent location for doing business.
"It must be noted that there are many things working in Panama's favor with the FTA's and these represent an increase in exports, and the country has manage to attract a lot of foreign investments," indicated Alejandro Ferrer, ex minister of Trade and Industry.
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