Panama: $ 3.6 Billion in State Purchases

The state of Panama invited bids for $3.6 billion worth of contracts so far 2010 through its website

Tuesday, October 26, 2010

The data was included in a report submitted by the Public Purchase Agency, which details how the various agencies have implemented the various bidding processes. reports, "The Central Government, for example, has awarded 36.291 bids, corresponding to $ 1.819 million in payments. Public companies in the mean time have carried out to date 7.228 bids, with payments for $130 million".

More on this topic

Tender: Insurance for $2 million

February 2016

The Metro de Panama S.A. is putting out to tender insurance services required for the operation of Line 1 and its facilities.

Panama Government Purchase 2016-2-80-0-08-LP-000542:

Required services:

1. Contract for a reinsurance program at least for Sections I and II

2. Issuance of policies and endorsements required in the tender descriptions

Too Much Corruption In Government Procurement

September 2013

World Bank statistics show that every day, about $1.3 billion are paid in bribes related to state contracts.

The figures were mentioned by Michael Kramer, a consultant at the entity, who is taking part in the forum "Preventing and combating corruption and collusion in public procurements", taking place in Panama.

Panama: Only One Company Participates In Mutli Million Dollar Tender

May 2013

The Panama company NG Power was the only bidder in the tender to generate electricity from natural gas for 20 years at a price of 8 cents per kilowatt hour.

"The prices are pretty good. We will take the necessary steps to make a final decision for the contracts," said Fernando Marciscano CEO of the Empresa de Transmisión Eléctrica, S.A.

New Rules for Panamanian Public Purchases

October 2009

Social interest acquisitions will have shorter bidding periods and there will be a new purchasing modality, called shortened tender.

This modifications, sponsored by the Economics and Finance ministry, will change the Public Purchases Law (Law 22 of 2006).

"From now on, it will be possible to make the bidding process over 10 to 40 days for acquisitions larger than $5 million.

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