Because the supply of office and commercial buildings has increased, and at the same time unemployment has also risen, in Costa Rica the directors of these properties foresee that next year the parties will have to renegotiate the contracts.
Data collected by Colliers International indicate that between June 2019 and the same month in 2020 the total inventory of commercial buildings increased by 1.5% from 1.16 million m2 to 1.18 million m2.
Arguing reasons of force majeure, the construction company Fomento de Construcciones y Contratas requested the Panamanian Social Security Fund to unilaterally cancel the contract for the construction of the hospital complex.
This mega-project has been delayed for several years.
As part of the process of reopening the Panamanian economy, it is estimated that in the last two weeks close to 90,000 work contracts have been reactivated, which represents 30% of the suspended labor agreements.
Due to the outbreak of covid-19 and the restrictions imposed by the Panamanian authorities on most economic activities, from March to date about 292 thousand labor contracts have been suspended.
The Central American Integration Bank approved the awarding and signing of contracts for various works, which together amount to $36.6 million.
The funds are part of the Debt Conversion Program of Honduras against Spain, which is administered by the Central American Bank for Economic Integration (CABEI), reported the multilateral organization.
The National Assembly approved in third debate the draft law establishing temporary employment protection measures in companies affected by covid-19.
The initiative presented by the Executive received several modifications in its original content, both in the first and second debate, leaving the deputies with the reservation that these are temporary rules and are not intended to a future reform of the Labor Code, the Assembly reported.
In this scenario of economic crisis, the Ministry of Labor has extended for the fourth time and for 30 more days, the provision that allows companies in the country to suspend the contracts of their employees.
Executive Decree No. 100 of July 1, 2020 authorized a further extension of the temporary suspension of the effects of employmentcontracts, which will apply automatically for a period of 30 calendar days in companies whose operations have not been reactivated according to the plans for a gradual return to economic activity, reported the Labor Ministry.
In Panama, the Ministry of Labor has again extended for 30 days the provision that allows companies in the country to suspend the contracts of their employees.
By Executive Decree No.97 of May 29, 2020 and in the scenario of the crisis caused by covid-19, the temporary suspension of the effects of labor contracts is extended for the second time.
Millicom announced that it exercised its right to terminate the Share Purchase Agreement for the acquisition of Telefonica's operating subsidiary in the Central American country.
In view of the possibility of energy rationing for the summer season in Honduras, businesspeople are calling for the tender processes for the supply of electricity to be speeded up.
For the fourth quarter of 2019, 15% of Guatemalan companies are expected to increase their payrolls, a proportion that is slightly lower than the 16% recorded in the same period of 2018, which could be explained by the lack of legal certainty and the recent general elections.
Guatemalan employers report moderate hiring plans for the fourth quarter of 2019. 15% expect to increase their workforce, 5% expect a decrease and 80% do not expect changes, resulting in a Net Employment Trend of +10%, according to the report prepared by Manpower.
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.
The reforms to the State Contracting Law under discussion in Guatemala establish five criteria for the Government to terminate the contract with a company in advance.
The proposal is currently under discussion in the Public Finance and Currency Commission of the Congress of the Republic, and among its main objectives is to solve the problems arising from litigation between contractors and state entities, because of issues related to unfinished works.
In Costa Rica, the state-owned electricity company ICE is evaluating the renegotiation of prices and conditions in power purchase contracts with private generation companies.
The adjustments planned by the Costa Rican Electricity Institute (ICE) in contracts with private generators are based on the need to reduce costs and adapt prices and quantities purchased to current demand conditions and the availability of resources to generate energy.
The Tourism Authority informed CCA-Cocige, responsible for building the Convention Center in Amador, the intention to cancel the contract because of critical flaws in the design and infrastructure.
The work was originally awarded to HPC Contratas P&V, but in 2016, after work was halted for 24 months because of a liquidity problem, the project was assigned to the CCA-Cocige consortium.
In Costa Rica, a law project proposes to disable construction companies that do not comply with contracts with state entities for a period of five years.
The proposed law is analyzed by the Economic Affairs Committee of the Congress, and according to representatives of the Ministry of Public Works and Transport (MOPT), if approved, the law would allow sanctioning construction companies that do not complete the works agreed with the State.
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