Approval for PPPs

After passing the three debates in the National Assembly, President Cortizo sanctioned the law creating the Public-Private Association regime in Panama.

Friday, September 20, 2019

According to the Law that came into the hands of the Executive, companies that are delinquent in the payment of fines for breach of contracts, will have limitations to participate in these public concession model.

You may be interested in "PPPs to Boost the Economy” and "Construction: Optimism for PPP Regulation"

The term of the PPP contracts was established for a 30-year period extendable for an additional ten years, in addition to the fact that state-owned banks may only finance up to 25% of the total works contracted through the PPP system.

Laestrella.com.pa reports that "... "I have just signed and sanctioned this law, the first law that sanctions a team... because we are an aligned team," Cortizo said. In the act of sanction was the president of the Assembly, Congressman Marcos Castillero."

The article adds that "... This is the second law that sanctions Cortizo, after having created by law the Ministry of Culture.

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More on this topic

Public-Private Partnerships: Progress on the Bill

February 2020

The Special Commission on Infrastructure of the Costa Rican Assembly endorsed the bill that seeks to regulate the schemes for the development of public-private partnership projects.

The initiative, which has yet to go beyond the debate in the Legislative Plenary, establishes the processes and modalities for promoting private investment for the development of public infrastructure, public services and services related to these, applied research projects and/or technological innovation.

Free Way for PPP Law

September 2019

In Panama, in the third debate, the bill creating the Public-Private Association regime was approved, which in its latest version set limitations on companies accused of acts of corruption.

According to the text approved and awaiting the approval of the Executive, companies that are delinquent in the payment of fines for breach of contracts, will also have limitations to participate in these public concession model.

Panama: PPP Bill to Third Debate, but with Changes

September 2019

The removal of the disqualification from hiring natural and legal persons who have been sentenced for corruption is one of the most important changes made to the bill that creates the Public-Private Partnership Regime.

Although the bill has faced multiple obstacles, since a few days ago its discussion in the Assembly was suspended because workers and union sectors rejected the original bill, it was approved in the second debate, but with some changes.

PPPs to Boost the Economy

June 2019

For Panama's business sector, public-private partnerships are contracts that, if properly implemented, could promote the dynamism of the economy and at the same time diminish the fiscal pressure on the State budget.

The Chamber of Commerce, Industries and Agriculture of Panama has promoted since the beginning of the current government administration, a draft bill that creates the Public-Private Partnership Regime (PPP), given that this document would promote the development of the country, explained the business guild through a statement.

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