Keys to Panamanian Development

Despite rapid development in recent years, there remain serious obstacles in order to progress beyond what has been achieved in Panama.

Wednesday, May 6, 2009

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.

The article in authored by Kerem Pérez and Mario A. Muñoz says that "all this is happening despite the fact that average economic growth has been 8% in recent years, with a canal zone which grows and generates more money, ports that move cargo that goes around the world and a banking center famous for its liquidity when money is scarce internationally."

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More on this topic

The Crisis in Human Resources in Panama

July 2011

Training of qualified personnel at all levels is absolutely insufficient to meet the demand of an economy with such high growth rates.

In Panama, the gap between demand and supply of employment, both in quantity and quality, is expanding at the same pace as the growing list of infrastructure projects in execution, which is increasing the arrival of multinational companies, saturating hotels with the number of business travelers and tourists.

Panama Short on Skilled Labor

March 2011

The Panamanian economy continues to grow, demanding more and more professional and technical staff, which the local job market fails to satisfy.

Companies are failing to fill their vacancies, as they lack candidates with the required skills and experience. This situation, far from being resolved, is getting worse, as more transnational companies open office in the country, increasing the demand for skilled workers.

Shortage of Qualified Labor in Guatemala

November 2010

Employers indicate greater difficulty in finding skilled labor.

According to a study by Manpower, 36% of surveyed employers revealed difficulties this year in getting qualified employees, while in 2009 the figure was 20%.

"The immediate problem is not the number of potential candidates, but rather the shortage of talent, because not enough people are sufficiently qualified," published.

More Foreign Workers in Panama

March 2010

Work permits to foreigners have increased 24.4% in the first two months of 2010.

1.220 permits were issued between January and February 2010, 24,4% more than in the same period of 2009, when 980 permits were granted.

“Jaime Bocanegra, consulting director at PricewaterhouseCoopers, said that companies will pile on the pressure, especially multinational corporations, as there are not enough skilled workers in Panama”.