As of Wednesday, March 25 and for a period of 30 days, Panama decreed the suspension of the activities of the construction industry in the projects currently under development in the national territory.
According to Executive Decree 506, there are exceptions to this provision, which must be expressly provided by the health authority. See full publication in the Official Journal.
The impact of the covid19 crisis on the construction sector in Central America is expected to be explained, to a greater extent, by the expected fall in the business of prefabricated steel structures.
Because of the reduction of funds from the Public Investment Program from $552 million in 2018 to $506 million in 2019, construction is expected to suffer negative effects in Nicaragua.
According to Nicaraguan government estimates, construction will fall 21% this year compared to 2017, and in 2019 the contraction could reach 11%.
Regarding the performance of construction in the country, Elnuevodiario.com.ni reports that "...
Large construction companies in the Asian country are interested in the mega projects that are to be developed in the region, especially in Panama and Costa Rica.
At the last Capac Expo Hábitat fair in Panama, more than 20 companies from China showcased their progress and took the opportunity to establish contacts with local public and private investors.
From July 2018, the cost of new construction, additions and repairs in Panama fell by 40% compared to the same period in 2017, reaffirming a trend seen since last year.
The most recent figures from the Comptroller General of the Republic detail that between January and July of this year the cost of new construction, additions and repairs totaled $793 million, and the number of projects for which construction permits were granted was 5,033.These figures are far from those reported up to July of last year, when the value of projects exceeded $1.1 billion, and the number of projects exceeded 8,000.
At the end of the first semester of the year, the cost of new construction, additions and repairs in Panama fell by 43% compared to the same period in 2017, reaffirming the trend seen since last year.
Gone are the days of a real estate boom in Panama.This has been confirmed by the figures that have been seen since last year in the construction sector.Not only has the value of new constructions been continuously falling, but also the number of projects that are being developed and even that submission of environmental impact studies.
The government has granted access permits for potable water that were pending for 102 construction projects valued at $300 million.
Representatives from the Executive Power and the National Association of Aqueducts and Sewers (ANDA), delivered the package of permits to the Salvadoran Chamber of the Construction Industry (Casalco), "... which will translate into 3,300 new potable water services."
30 days after the strike began, employers and workers have finally reached an agreement on the scale of salary adjustments for the period 2018-2021.
From a statement issued by the Panamanian Chamber of Construction (CAPAC):
May 18, 2018.The Panamanian Chamber of Construction (CAPAC) informs its members and thegeneral public that today, May 18, a salary agreement was reached with the National Union of Construction Workers and Similar (Suntracs).
Construction activities in Panama have been paralyzed for 17 days, and even government intervention does not seem to have had an effect on the apparently immovable position of the workers' union.
In astatementissued yesterday, the Panamanian Chamber of Construction announced the wages and benefits that would be obtained for construction workers, according to what is established in the collective agreement.
In Panama, the workers' union is still opposed to the salary increase proposal put forward by employers, and it is keeping in place the construction work strike, now in its 14th day.
The country that has been leading construction activity in Central America over the last few years, has seen work on 260 constructionprojects nationwide paralysed for almost two weeks.
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."
Paralysis of works by construction workers and organizations in the province of Colon, is causing concern among Panamanian businesses.
From a statement issued by the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP):
April 15, 2018. Announcements of strikes by the Single Union of Construction Workers and Similar (Suntracs) and civic organizations in Colón are the reason for concern on the part of the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) and several other sectors, regarding the impact of these measures on Panama's economic performance.
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico.
The company manufactures and sells telescopic, articulated, maritime, forestry, scrap, salvage, trawl, platform cranes, hydro elevators and backhoes.
A housing complex in Honduras, a road in Panama and the expansion of a hospital in Costa Rica are some of the construction projects planned in the region.
The interactive system "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private construction projects that are planned to be built in the region.
While the concessionaire in charge of the work announces that it plans to subcontract a Costa Rican construction company for part of the project, the Ministry of Public Works states that it has not been notified.
The remaining stretch of the 107 kilometers comprising the project in its entirety, between the junction of Rio Frio and Matina, will be built by the project concessionaire, China Harbor Engineering Company Ltd.