PPPs to Boost the Economy

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.

Monday, June 10, 2019

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.

You may be interested in "Public-Private Partnerships: Where Would They Work Better?

The implementation of PPPs in the country is one of the initiatives that we have been proposing some time ago to promote the reactivation of the economy, which was a reason for satisfaction when this guild was invited to participate, along with other private sector groups, a meeting at the Inter-American Development Bank (IDB) with the designated head of Public Works, to review the draft and the observations that were presented at the time to the current administration of government, the document states.

The statement concludes that "... Our union considers that the APP scheme offers great opportunities for the country to attract foreign capital investment that will allow it to generate greater sources of employment, and thereby reduce the fiscal pressure on the State coffers.

In addition, it would promote the participation of local capital in works of public interest in all the national geography, in order to boost even more vigorously the performance of the Panamanian economy."

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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.

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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.

PPP Law Discussion Suspended

August 2019

After the workers and union sectors rejected the bill creating the Public-Private Partnership Regime in Panama, the Assembly decided to suspend its discussion in the second debate.

Responding to the request to extend the period of consultations by a sector of the country, the plenary of the National Assembly suspended discussion of the second debate of Bill 12, which creates the Private Public Association Regime (APP) as a tool for the development of private sector investment, social and job creation, reported the government on August 27, 2019.

New Law for Public-Private Partnerships

August 2019

The National Assembly of Panama approved in first debate the bill establishing the Public-Private Partnership Regime.

On August 19, the Economy and Finance Commission approved in the first debate the project that seeks to regulate the contracts, generally long term, between the public and private sectors for the design, construction, repair, expansion, financing, operation, maintenance, administration and/or supply of projects and services such as roads, energy, telecommunications, public transportation, ports and water treatment, among others.

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