President Laurentino Cortizo sanctioned the law that creates the National Authority for the Attraction of Investments and Promotion of Exports of Panama, an institution whose objective is to attract foreign investment to the country.
The law establishes the legal framework for the Investment Attraction and Export Promotion Agency (ProPanama) of the Ministry of Foreign Affairs to be elevated to an Authority, to give it greater sustainability and to execute, in a strategic and channeled manner, the different public-private efforts to attract investments and support the promotion of exports, informed the Presidency.
Road maintenance for $258 million, construction of an overpass for $58 million and the development of an energy park for $19 million, are some of the investments included in the 2020 National General Budget project.
Regarding the general amount of public investment included in the Fodes de las Alcaldías, the project discussed in the Assembly contemplates that by 2020 it would reach $1.243 million, an amount that would be 23% higher than that approved for 2019.
The decision of the Legislative Assembly to not endorse the bill that seeks to approve the contract between the government and Minera Panamá, shows the fragility of the contracts between the Panamanian state and companies.
The obstacles to the mining project date back several years, since the legal dispute began in 2009, when the Environmental Impact Center (CIAM) filed an appeal of unconstitutionality against the contract granting a 20-year concession to exploit and commercialize the gold, copper and other mineral resources of Cerro Petaquilla.
During 2018, Guatemala received $1.175 million in FDI, barely 0.5% more than the investment reported in 2017, mainly because of the political and legal uncertainty that ruled the country.
Figures from the Banco de Guatemala (Banguat) report that in the last five years, the country has gained $6,139 million in foreign direct investment (FDI), being 2014 the one that registered the highest year-on-year increase when reporting a 7% rate regarding 2013.
Israeli government officials have announced that they plan to invest close to $2 billion in various businesses in the sectors of agriculture, medicine and education.
The investment will be made through the Guatemalan-Israel Fund for Investment and Development in Guatemala, and this seeks to make the Central American country the center of Israeli business in the region.
Registration has been opened in El Salvador for investment projects that require complementary public infrastructure works to be financed with funds from the Program Apuesta por Inversiones´ Fomilenio II.
There will be about $75 million available for the API Investment Program, part of the $277 million donated by the US government through the Millennium Challenge Corporation (MCC), supplemented with $88 million contributed by the Salvadoran government, making a total of $365 million for investing in a period of 5 years.
Following a visit by the President of Costa Rica to China, an announcement has been made that priority will be given in the Legislature to the Bill on Protection of Investments between the two countries.
This bill seeks the promotion and protection of investments between China and Costa Rica, through a legal framework governing any disputes which may arise between the two nations.
Businessmen are complaining that investments in international promotion amount to less than a third of what Panama spends, resulting in the country losing competitiveness as a destination in the region.
The 2015 budget for investment in official tourism promotion is $18 million, which industry representatives say is not enough if you expect tourism flows to keep up a good pace.
Grupo Poma is planning to expand its portfolio of investments in Costa Rica venturing into housing construction projects and strengthening its presence in the automotive sector.
The Salvadoran group, which has been present in Costa Rica since 1993, is analyzing the possibility of complementing the office and hotel investments it has made in the country with the construction of residential high rise blocks.
$91 million is the estimated amount of the investment projects which have already been approved or are pending which will receive the tax incentives offered by the government for investment in the tourism sector.
From a statement issued by the Ministry of Tourism of El Salvador (MITUR):
The Minister of Tourism, Lic. Jose Napoleon Duarte Duran announced that during 2014 and 2015, private investment in the tourist industry which has been or is in process at the institution which is eligible to benefit from tax incentives, amounts to $91,731.
In the absence of concrete actions by the state, companies in the province of Limón have announced that they will promote economic development in the area using foreign investment.
In order to generate more projects to develop economic activity in the province of Limón, employers in the area are calling for foreign investors who have an affinity with the region.
The event organized by Latin Markets will be held in Panama from 28th to 29th of January 2014.
The event, organized by Latin Markets, will include the participation of 60 experts in the field, who will talk about how companies can participate in the development of dozens of key infrastructure projects in the region.
Participating employers will have access to more than 300 executives and experts in the subject through business meetings with companies involved in the industry.
NanYang Footwear is to invest $3 million in the country to produce footwear and export it to other markets.
From a press release from the Presidency of El Salvador:
The Taiwanese company engaged in the manufacture of footwear NanYang Footwear, in a clear commitment to El Salvador, started operations in the country by establishing and expand its subsidiary in the country under the name of ADI FOOTWEAR SA de CV, with an initial investment of $1.5 million, plus plans to invest an additional $1.5 million and carry out an expansion which will generate more than 1,000 new jobs over the next year.
It has been two months since the Investment Summit 2013 was held in Guatemala and two investment projects have materialized totaling $109 million.
These are the construction of a hydroelectric plant in Rio Hondo, Zacapa, capable of generating 32 MW and a mushroom production plant in Salcajá, Quetzaltenango. What is more, during the next three years it is expected that another $225 million will be generated in new projects, making a total of $334 million.