Reducing costs and barriers to foreign trade in Central American economies is key for the region to overcome the economic recession caused by the outbreak of Covid-19.
A report prepared by the World Bank explains that boosting economic activity and employing a higher percentage of the labor force are objectives that can be achieved through reforms that strengthen the private sector and attract investment.
Although the end of the year holidays is a threat to Central America for a second wave of covid-19 infections, it is expected that total closures will not be decreed since there are currently effective health control options, and less costly for the economy.
When the first cases of covid-19 were reported in the region in March 2020, most governments decided to paralyze a large part of productive activities and decree home quarantines.
Between 2011 and 2014 the number of people with bank accounts grew in all Central American countries, with noteworthy growth in El Salvador of 23%.
In Guatemala bankariztion grew by 19% in the period in question, reaching 9.2 million people with at least one bank account. In Honduras' growth was 11%, Costa Rica's 14%, Panama's 19%, and in Nicaragua, the increase was only 5%.
The Attorney General Prosecutor's Office has announced that the government and the Italian company Enel Green Power have reached an agreement to end the conflict over the ownership structure of LaGeo.
From a statement issued by the Attorney General of the Republic of El Salvador (FGR):
Washington, DC The State of El Salvador and the Italian company ENEL Green Power have reached a framework agreement with a comprehensive solution to the existing dispute over the ownership structure of the company LAGEO SA de CV.
Analysis of the characteristics of the business of supplying ships in Panama, participating companies, products and services required, and eligibility requirements.
From a statement issued by the Costa Rican Foreign Trade Promotion Office (Procomer):
- Expansion of the Panama Canal opens up opportunities for Costa Rican exporters to supply vessels
Between October 28th and 30th, Guatemala City will host a meeting between businessmen from various productive sectors in Spain and representatives from Central American companies.
This multilateral meeting aims to find business opportunities in the energy industry, transport, water and real estate development, among others.
SMEs in developing countries could generate jobs and significant growth by taking advantage of the market opportunities offered by clean technologies.
From a report by the World Bank:
SMEs in developing countries could generate significant growth and jobs if they take advantage of market opportunities that offer clean technologies, which reach up to $1.6 trillion.
The Minister of Finance in Nicaragua has signalled the need for public officials who lead the implementation of internationally funded projects to streamline processes.
Minister Ivan Acosta said in an article on Laprensa.com.ni that "... public officials and Bank staff -with the introduction of technology- can spend up to six months chatting by email about whether there is any objection to the process or not, while people are waiting for the projects. "
Out of the $80 million awarded in Costa Rica to the Limón Port City Project 5 years ago, only 12% of it has been spent, mainly on paying the salaries of public officials connected to the project.
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A few months ago a controversy arose in Spain over the allocation of funds for development, such as low-interest financing for development projects by a private construction company.
Through a mutual fund, the World Bank and other multilateral institutions, will be awarding $50 million to finance small and medium enterprises in the region.
With a mix of capital and a long-term soft loan the III Caseif fund, managed by Lafise Panama, will have $50 million for small and medium businesses who require funds to finance their operations.
To be successful you need a good idea to accompany an indispensable ability and entrepreneurial drive.
A report entitled "Entrepreneurship in Latin America: A Lot of Companies and Little Innovation," prepared by the World Bank (WB), reports that in the region one in three workers are self-employed or a small employer. However, most of them rarely hire workers and remain small, even after decades of operation.
There is ample opportunity for countries that are willing to invest in better management of fisheries and environmentally sustainable aquaculture.
According to a report entitled "Fisheries Sector 2030: Prospects for fisheries and aquaculture" prepared by the World Bank (WB), almost two thirds of the seafood consumed globally will be produced by fish farming methods in 2030.
The technical redefinitions that make up a successful tax reform should be based on a reformulation of the social contract which establishes national goals.
Nacion.com reports that "According to Augusto de la Torre, Chief Economist at the World Bank, the fiscal debate is more than just an economic debate, it is almost a philosophical debate about the kind of state we want to have."
Only 9.25% of the potential to generate geothermal energy is being used and neither are conditions for generating solar photovoltaics being taken advantage of.
A World Bank report which incorporates the study "The path to the future for renewable energy in Central America", conducted by the INCAE Business School and the Worldwatch Institute (WWI), explains that the country could have between 362 and 2,210 megawatts of capacity installed, however only has 204.4 MW.
World Bank statistics show that every day, about $1.3 billion are paid in bribes related to state contracts.
The figures were mentioned by Michael Kramer, a consultant at the entity, who is taking part in the forum "Preventing and combating corruption and collusion in public procurements", taking place in Panama.
"... In addition to cash bribes for the award of contracts in recent years the practice has spread to awarding projects to companies created by officials," reported Prensa.com. Sometimes they are consultancies or suppliers that have no references or physical offices.