Public procurements account for 17% of the GDP. In January 2009, there were $43 million in purchases made through Panacompras.
With the view that for the strengthening of public administration it is essential to ensure a public procurement system that is "effective, strategic and reliable," the government of Panama issued a strategic plan for a structural reform and modernization of that system.
It is estimated that it will save 76% in administrative costs and between 5% and 15% in prices.
The finance minister, Guillermo Zúñiga "emphasized the transparency and effectiveness of the system because each of the framework agreements is done through public tenders and because you can choose what you need through an electronic catalog where suppliers and their products have already been analyzed."