In Panama, the district of Chitre, in the province of Herrera, is becoming a boutique metropolis for trade and tourism.
According to the architect Jose del Carmen Perez, a new zoning plan for Chitre by the Ministry of Housing is on the point of being adopted, which allow the construction of buildings over 10 storeys, something that is not allowed under the current plan.
With the entry into force seven years ago of the Free Trade Agreement with U.S., Nicaragua's exports to the country have increased by 133%.
The country has become more attractive to investors, it sectors have become technical and Nicaraguan small and medium enterprises have managed to benefit from technical assistance programs.
The products that have been favored the most by the FTA signed by Central America and the Dominican Republic are green coffee, meat, seafood, sugar, textiles and cheese.
The Attorney General's Office has announced the construction of a 33 storey building which will have 246 parking spaces.
According to Ana Belfon, head of the Attorney General's Office in Panama, the building will be constructed on the land where the Electoral Tribunal is sited and will house the office of the Attorney superior and the offices of the First Judicial Circuit of Panama and will have 246 parking spaces.
An amendment has been made to Act 3 of March 1985, which establishes a preferential interest rate system on mortgages, increasing the limit of the first band from $35,000 to $40,000.
From a press release issued by the Ministry of Economy and Finance (MEF) of Panama:
The Bill No. 567, amending an article of Act 3 of 1985, which establishes a preferential interest in certain mortgage loans and modifies the first band for preferential interest loans, from $35,000 to $ 40,000, was approved on its third reading by the plenary of the National Assembly, said the Minister of Economy and Finance, Frank De Lima.
Panamanian Bankers believe that the sector will not be affected by the new provision, and are asking for it to take effect quickly.
The Panama Banking Association has spoken in favor of the approval of the project that adopts a scheme applicable to shares issued to the bearer, and believes that once the law is passed, it should enter into force in the next three months, not in two years as the law had contemplated.
In April Panama will launch tenders for the supply of energy using coal-natural gas, and is preparing another tender for wind power.
"After the blackout that knocked out power to the country for four hours on Monday the government has accelerated the adoption of a series of measures to ensure a sufficient power generation system and the ability to transmit it.
The Electric Transmission Company ETESA will build an 80MVA substation and expand the Boquerón III substation, through the installation of a second transformer.
From a press release issued by the Government of the Republic of Panama:
The Cabinet Council has approved a resolution authorizing the conclusion of a cooperation agreement between the Ministry of Economy and Finance (MEF) and the Electric Transmission Company (ETESA).
The Ministry of Economy and Finance in Panama is inviting bids for custodial services and security for buildings, vacant homes and facilities of the reverted areas.
The tender is for the hiring of services from a company to provide custodial and building safety services for unoccupied homes and facilities of the reverted areas under the responsibility of the Administrative Unit of Reverted Properties at the Ministry of Economy and Finance.
The Ministry of Finance has initiated a cadastral revaluation of properties that have never updated their value.
The Ministry of Economy and Finance (MEF) began the process of updating cadastral in various parts of the province of Panama, including the area of beach that stretches along the development centers, located from Punta Chame to Buenaventura, covering Pacific beach fronts and the Interamerican Highway, reports Panamaamerica.com.pa.
There should be time limits placed on any subsidies given to sectors of the population or the economy, so that they do not end depending on the state.
Martesfinanciero.com studied the case of subsidies granted by the Panamanian government, invoking the old adage "Give a man a fish and he'll eat for a day, teach him to fish and you’ll feed him for the rest of his life."
The cumulative transactions in Panamanian brokerage houses in the first 8 months of 2012 totalled $65.08 billion.
Capital.com reported: "According to the latest statistics published by the Panama Securities Superintendency (SMV), by August 2012, Interbolsa had the most transactions with a total of $18.346 billion, followed by SFC Investment with $2.369 billion, the National Bank of Panama with $1.337 billion and MMG Bank Corporation with $1.33 billion."
Despite the increase in the public debt exceeding $14.5 billion, GDP growth has brought the relationship between the two parameters to less than 40%.
The strong growth of the Panamanian economy both during the Torrijos administration and the current one of Ricardo Martinelli, has seen the relationship between public debt and gross domestic product (GDP) go from 70.4% in 2004, to 39.6% according to the Ministry of Economy and Finance (MEF) as at the end of 2012.
In a reversal of the decision of having them administered by Tocumen SA, the airports of David, Colon and Rio Hato will be granted in concession to private companies.
The Panamanian government now believes that it would not be suitable for Tocumen SA to manage – along with Tocumen International Airport - these airport terminals, which are being remodeled at a cost of $138 million.
The Ministry of Economy is discussing the creation of a contingency fund of between $2.5 and $2.8 million to provide support to banks that have liquidity problems.
Addressing the issue, the Minister of Economy, Frank De Lima, said that the idea is to provide a contingency line with the International Monetary Fund that would be used to inject liquidity into the banking system if necessary.
Private generation companies have described a possible government involvement in the electricity market as unfair.
The Government has indicated its intention to enter the area through the construction of a hydroelectricity company and thermal generator.
In the view of generators currently operating in the country, such works would receive benefits in terms of taxes and procedures and they argue that this would discourage new generators from investing in the country, because they would not feel comfortable competing with the government.
español
6404
