Despite rapid development in recent years, there remain serious obstacles in order to progress beyond what has been achieved in Panama.
These obstacles are structural defects that have to be corrected, such as the inefficiency of public administration, people with low education, lack of skilled labor, regions far away from the capital lacking basic services and serious problems in transportation and health.
Lawyers, economists and tax specialists discuss this proposal, focused on the adoption of a "flat tax" to replace the current tax system.
The proposal was initiated by Ricardo Martinelli, the presidential candidate that leads public opinion surveys regarding voting preferences, and, according to what was reported by Marianela Palacios in an article in Prensa.com, “[this proposal] implies a reduced ISR rate for the businesses of a current 30% rate to 10% or 15%, limits deductions and eliminates a series of subsidies and fiscal exonerations, even those banking-related."
Technology and economic changes have transformed labor rules in Panama that are more than 30 years old.
The increase in inflation has raised the discussion of whether or not it is convenient to order a general salary increase.
Businessman Javier Rivera believes that the current climate is favorable for business owners and employees to sit down and talk about issues affecting them, such as the cost of living; however he also believes that the discussion should include the changes that have occurred in the labor market.
Panamá Pacífico with thousands of interested visitors to its stand in Expocomer 2010, not only offered the Key Note speech of thursday, but launched the residential phase of this great development on the banks of the Panama Canal