No More Business for Odebrecht in Panama

The Brazilian construction firm will not be able to participate in future tender processes and must withdraw from the contests for the fourth bridge over the Canal and the Metro line 3, but will probably continue with projects which are already under construction.

Monday, January 23, 2017

The government has announced that the Brazilian company will not be able to take part in future processes, but in respect to the works it is currently operating, such as the construction of Line 2 of the Metro and the urban renewal in Colón, President Varela said "... ' we must protect the country's economy."

"Panama has to advance the process of justice, so that the truth be known, but we must protect the country's economy. If we do not protect it, it will be the innocent, who should not have to pay, who will suffer. Both things can be done: strengthening justice, sorting out assets and protecting the Panamanian people," he added.".

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More on this topic

Panama: Businessmen Oppose Odebrecht

January 2017

The Chamber of Commerce, Industries and Agriculture has decided to expel the Brazilian construction company from the union, after the payment of bribes was revealed in several countries, including Panama.

From a statement issued by the CCIAP:

Odebrecht: An Open Secret

January 2017

The revelation that the brazilian construction company paid nearly $60 million in bribes in Panama is a clear wake-up call to society and the private sector, which must demand transparency in government procurement processes.

EDITORIAL

Former President of Odebrecht Convicted

March 2016

The court ruling that imposed a 19 year prison sentence has forced a review of the projects being managed by the company in the region, where two projects which are underway in Panama alone, total $2.4 billion.

On March 8th the Brazilian justice system condemned Marcelo Odebrecht, former CEO of the largest Brazilian construction company, Odebrecht, to 19 years and 4 months in prison and to pay a fine of $35 million along with executives from the group for the payment of about $65 million in bribes to officials in the case of corruption in the state run oil company Petrobras, reported La Prensa. The ruling mentioned fraud in tenders, where bribes were also paid for the award of the works.

Large Companies Notably Absent in Tenders in Panama

May 2015

It is significant the absence of companies from countries where bribery abroad is criminalized in tenders for large scale government works in Panama.

EDITORIAL

An article in Prensa.com by Jorge Gamboa Arosemena contains the key points to analyze this issue, following the announcement of the winner of the tender for the works of Line 2 of the Panama Metro.

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