In Panama, Desarrollo Golf Coronado has been accused of possible falsification of public documents and irregular use of tax exemptions for tourism.
An article in Panamaamerica.com reports that the Tourism Authority of Panama (ATP) found in the course of an investigation that Desarrollo Golf Coronado included in its list of beneficiaries of tax incentives for the tourism industry two farms that did not belong to the hotel project.
83 km southwest from Panama City, the crisis is barely noticeable. Villas, luxury residences, resorts, sport complexes and buildings keep on growing.
Two shopping centers are being constructed to serve the population, to reach 52.000 by 2010. Named The Village and Coronado Mall, $30 million are being invested in them.
The global crisis has considerably slowed real estate sales in most areas of Panama, but, in Coronado, $20 million project "El Alcázar", is almost fully sold.
The creation of the National Tourism Fund and the adoption of a hotel classification system are some of the provisions that have been established.
Roberto Gonzalez writes in article published on Prensa.com, "One of the measures that was most expected by the private sector was the creation of Fonatur, a trust fund from which the resources for promotion campaigns, the execution of the Tourism Master Plan and the Project Management office will be obtained.