With topics such as e-commerce and regulatory framework on the agenda, the first round of negotiations to establish a Free Trade Agreement between Panama and the Asian giant have begun in Panama City.
Authorities stated that during the first negotiations Panama will be represented by some 25 members of the Negotiating Commission of Free Trade Agreements of the Ministry of Commerce and Industries (MICI) and will also be able to count on the participation of more than 40 unions from the productive sector.
One week after works on construction projects in Panama were halted, the losses caused from each day of strike have been estimated at $30 million.
"...The Panamanian Association of Business Executives (APEDE), one of the most important business associations in the country, said today that Panama is losing close to 30 million dollars every day of the construction worker's strike, which started last Wednesday over complaints about a salary increase."
The state electricity transmission company is considering not holding any more special tenders for generators that use renewable resources, which will have to compete with all types of generators.
Representatives from the Electricity Transmission Company (Etesa) reported that with the modifications that are being made to the law, in future tenders for energy supply will compete with all other kinds of generation forms.
In Panama, a bill put forward by the Varela administration proposes that tax fraud of $300 thousand or more be classified as a criminal offense, and punished with 1 to 3 years in prison.
The Ministry of Finance and Economy insists that the country is at risk of being included once again in the gray list of the Financial Action Group if tax evasion is not considered a crime.Panama is one of the few countries where tax evasion is not considered a criminal offense.
Entrepreneurs have proposed increasing the proportion of foreign personnel that can be legally contracted by companies operating in the country, from 15% to 20%.
Lack of personnel with the qualifications demanded by local companies and the multinationals that decide to settle in Panama is the main reason behind the proposal put forward by the business sector to authorize the hiring of more foreign staff.
At the Annual Conference of Executives in Panama, to be held from April 26 to 28, discussions will take place on the technological advances that have been made and how companies can adapt to the "fourth industrial revolution".
"The future has arrived: Panama 4.0" is the name of the 2017 edition of the Annual Conference of Executives in Panama (CADE).
Preventing the participation of Colombian companies in the tender processes is one of the actions proposed by Panamanian businessmen as a retaliatory measure to the conflict over tariffs.
Entrepreneurs, environmentalists and authorities have formed a committee to review the legislation on processes for obtaining environmental permits.
The commission, which includes members of the Panamanian Association of Business Executives (APEDE) aims to have a draft ready by October of a new proposal to be submitted for public consultation. Among the rules to be reviewed, is the categorization of the studies, which should "... be established after evaluation or review by the authorities and the population."
Various organizations have criticized the text of the new procurement law pointing out that it does not impose the transparency needed in these processes.
The main criticism concerns the fact that the text finally approved by the National Assembly eliminated an item which enabled companies convicted of corruption to be disqualified.
In January 2016 the results of a study will determine whether it is feasible to build multimodal ports in Bocas del Toro and Chiriqui and develop a logistic plan for the region.
The Maritime Authority of Panama explained that the feasibility study is being developed by Nathan Associates, which will have to deliver the results in January 2016. The purpose is to determine the condition of the province of Chiriqui, particularly Baru, in order to establish an economic development plan for the region.
On July 8, entrepreneurs and executives will be meeting to discuss the creation of customer-focused business strategies and operational management in companies.
A private sector union believes that Panama is not taking full advantage of the logistical capacity it has to promote the export of local goods and services.
At the end of the December 31, deadline to qualify for the current moratorium, a 10% surcharge will be incurred by those behind in the payment of taxes on income or property.
According to some taxpayers this measure represents a "...
The Panamanian Association of Business Executives is proposing regulating cooperatives, pawn shops and casinos, signing the memorandum of IOSCO, creating a new law on money laundering and strengthening the Financial Analysis Unit.
During the second business forum called 'gray lists: Check Mate for Panama?', the Panamanian Association of Business Executives unveiled their proposals, action lines and suggestions for improving the conditions of the country and getting off the "gray list" it has recently been included in.
This property, located at only 0.9 miles (1.5 KM) or 2 minutes from highway 27 can be used to build: A hotel – Industrial complex - Houses – Offices – Storage/Ware houses – School - Hotel This is an exceptional opportunity for a commercial...
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O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
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