Panamanian Builders Seek Recovery Plan

Faced with declining demand in high cost projects, the sector is becoming involved in housing projects for the middle class.

Thursday, May 28, 2009

An economic recovery program for the sector is necessary.

Tagnia Shocrón, in her article in The Star, published the comments of the Director of Economic Affairs and Foreign Trade of the Chamber of Commerce, Manuel Ferreira: "The private sector proposed amendments to the Preferential Interest Rate Law to include projects of up to $100,000 within this benefit. It suggested the reduction of tariffs for some products used in building housing projects and promoting public housing projects through the investment budget for the years 2010 and 2011."

More on this topic

Guatemalan Construction Continues to Struggle

August 2010

Guatemalan Chamber of Construction (CGC) representatives can see no signs of recovery this year.

Jorge Montenegro, CGC president, told a press conference that, “May had the lowest index of construction activity yet, down 21.1%”.

Montenegro also mentioned that 172,165 jobs were lost in the sector between 2007 and 2009.

Construction Still Sluggish In El Salvador

May 2010

Low public investment and limited access to credit are the main problems, construction companies say.

Ismael Nolasco, head of the Salvadoran Construction Chamber (Casalco), urged the government to begin as soon as possible a number of construction projects pending execution.

One Third of Salvadoran Construction Firms Without Work

March 2009

The prospects of the construction sector for this year are a 4% decrease.

Ismael Nolasco, executive director of the Salvadoran Construction Industry Chamber (CASALCO) informed "There are no closed businesses, but 30% of them just pay taxes and services and go to the office because there is no work; sector outlook for this year is that there will be a 4% decrease and this estimate translates into businesses closing."

Residential Construction in Panama Drops 27.1%

February 2009

Residential occupancy permits granted in the metropolitan area, which represents 80% of the total, diminished 27.1% in 2008 compared to 2007.

The decrease, accumulated primarily in the third quarter of 2008, were due to the increase in the costs of building materials and a decrease in available credit amid the backdrop of the financial crisis and weak global economy.

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