Panama Seeks Partner for Financial Tower

The Ministry of Economy is seeking alliances with private companies to build the project via a public tender.

Friday, July 15, 2011

Minister Alberto Vallarino told the press, "We hope to get interest from the private sector in this partnership with the government. We are probably going to choose the company that proposes the best share offer and value per square meter for the public entities who will buy the tower. "

He added that the tender will provide feedback about whether the project is interesting to private enterprises.

"Industry sources have indicated that the company will have to incur in costs that will not have a direct return. For example, in the improvement of surrounding streets and the construction of a path commemorating 500 years since the discovery of the South Sea.

There is also doubt about the deadline for implementing the project. The government wants to open the site in 2013 ...", reported Prensa.com.



More on this topic

Honduras: Tender for Construction of Sugar Mills

May 2014

The government has announced that the tender for $300 million being prepared for the coming months will be awarded in October and November and the works will be carried out using public-private partnerships.  

Investors in the United States, Mexico and China have expressed interest in participating in the bidding process for the construction of two mills located in Olancho, with which the government will seek to increase exports of sugar. The government announced plans to select companies between October and November and begin construction in 2015.

Marina City on 36 Acres of Landfill

July 2011

A residential project in the Bay of Panama which will have 16 towers, some of up to 30 stories, a hotel, marinas, convention center and retail space, is generating internal dispute in Martinelli’s government.

The project was presented by a group of private businessmen (Maritime City) under the name Amador City Marina which will be built on two peninsulas with 36 hectares of the sea bed being filled on the Amador Causeway in Panama Bay.

El Salvador: 40-year Contracts for Public-Private Partnership

May 2011

The bill submitted by the Government proposes a term not exceeding 40 years, including extensions, for public-private contracts.

The government is seeking to encourage private participation in infrastructure with the new law on Public-Private Partnerships (PPP).

The proposal includes three types of contracts for the PPP:

Panama: Public-Private Partnership Law

August 2010

The government bill to regulate PPPs is now being reviewed by several sectors.

The law would regulate the role of the state in these associations, determine the involvement of private companies and define the contract and tender process.

"The government's contribution to the PPP would be through the payment of monies, concession of specified assets and the granting of rights on state-owned public property," reports Prensa.com.

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