The Cortizo administration approved a proposal that establishes that the government will assume 2% of the bank interest for the purchase of homes valued between $120,000 and $150,000, and in the case of real estate between $150,000 and $180,000, the exoneration will be 1.5%.
The Cabinet Council approved on September 3 the bill No. 044-19, which still has to be endorsed by the Assembly and seeks to increase coverage for the purchase of homes worth $180,000, informed the presidency of Panama.
The National Assembly created a commission to investigate the public contracting process by which the Panama Fourth Bridge Consortium was awarded the contract for the design and construction of the fourth bridge.
After multiple delays in the tender process, the Varela administration and the Panama Cuarto Puente Consortium, made up of China Communications Construction Company LTD and China Harbour Engineering Company LTD, signed the contract for the work in question in November 2018.
In Panama, the National Assembly authorized the transfer of $11 million to finance the rehabilitation of tourism projects in Isla Colón, the Antón Valley and the construction of the Boquete convention center.
Regarding the administrative management to provide the funds, the National Assembly reported that the Budget Committee was responsible for approving two transfers of items from the Ministry of Commerce and Industries to the Panama Tourism Authority.
President Varela has vetoed the bill that repealed the concession contract to build and operate a container terminal in Rodman, which had been awarded to PSA Panama International Terminal.
The bill approved by the National Assembly in mid-April contained an article that repealed the concession contract with PSA Panama International Terminal,approved more than three years ago. At the time, the decision of the deputies was strongly criticized by the Panamanian business sector, which described it as athreat to legal security.
A proposal has been made to extend for two years tax benefits for private investment developed in the area of the Casco Antiguo de San Felipe, in Panama City.
The draft aims to extend the conditions afforded by Law 136 of 2013, because, as discussed in the preamble of the document,"... the timeframe of two years has been insufficient for many owners and investors, and having expired on January 17, 2016, a situation that has created where there is a gap in terms of benefits, hurting the approval of loans and bank financing and tax exemptions and benefits for the National Directorate of Revenue with the consequent loss of the exemptions set forth in this regulation".
A bill intends to declare a moratorium on the granting of concessions for water use across the country for a period of at least three years.
From a statement issued by the National Assembly of Panama:
As part of the celebration of Earth Day, the Commission on Population and Environment is promoting a legislative initiative to declare a moratorium on granting concessions for water use throughout the national territory.
Although it had been announced for April, the tender to build and operate the port could be delayed again because the Assembly did not approve a bill which gives tax breaks to the contractor.
Currently there are several companies that are waiting for the terms and conditions of the tender process, and the final resolution of the National Assembly on "... the law that provides parity in fiscal rights for Corozal with other operators. "
The National Assembly has approved the transfer of $23 million to the Ministry of Health for the study, design, construction and equipping of Manuel Amador Guerrero Hospital in Colon.
From a statement issued by the National Assembly:
The $23,623,000 886 are intended to cope with payment obligations of the contract 185 (2010), whose objective is the study, design, construction and equipping and financing of Hospital Manuel Amador Guerrero, in province of Colon, on the order of $ 22,732,000 and $891,000 for the construction, equipment and funding for Anita Moreno Hospital, in the province of Los Santos.
Zoning changes and the creation of municipal planning boards responsible for preparing the urban development plans are part of the new law recently approved on land use.
From a statement issued by the National Assembly of Panama:
The full National Assembly approved on its third reading House Bill No. 12, which regulates land use planning for urban development, in which citizens, through public consultation, will have a linked stature in urban planning.
The Ministry of Transportation in Panama will be investing $20 million in land transport equipment and construction and $9 million in bridge construction and renovation of roads.
From a statement issued by the National Assembly of Panama:
The Budget Committee of the National Assembly has approved the transfer of five items, totaling approximately $35 million to the Ministry of Public Works (MOP).
After having announced alleged overruns on projects awarded by the previous administration, the government has declared that it is auditing contracts on projects which are underway and those that have already been completed.
In the project to expand the Arraiján-La Chorrera highway overruns of $60 million were detected, according to government officials.
The National Assembly has approved a 20 year concession contract signed with PSA Panama International, to build and operate a container terminal with an investment of $350 million.
From a statement issued by the National Assembly of Panama:
Approval was given on the third reading to Bill 122, which approves a contract between the state and the company PSA Panama International Terminal, SA, for the handling and transporting of containers.
A bill has been presented that would grant the company obtaining the concession to build and operate the container port in Corozal Oeste the same tax benefits as other port operators in Panama.
From a statement issued by the National Assembly of Panama:
A bill establishing similar tax exemptions as those in other ports will be offered by the Panama Canal Authority to the company granted the concession for the design, construction, development and operation of the port complex in Corozal Oeste, was presented to the full the National Assembly by the Minister for Canal Affairs, Roberto Roy.
The ACP is preparing the prequalification process and negotiated tender for the design, construction, development and operation of a container port in the area of West Corozal.
The port will be developed on land owned by the Panama Canal Authority (ACP), and will be done in two stages, which include "... A construction area of 2,081 linear feet of piers, patio and container structures such as offices and warehouses. "