The Guild supports the review of the reform proposed by the Procurement General and warns that as formulated it involves risks for the development of works in the country.
From a statement issued by the Costa Rican Union of Chambers and Associations of Private Business Sector (UCCAEP):
UCCAEP supports a return to committee to reform the Civil Procedure Code
The Panamanian government has presented for review at the National Land Council a draft bill which changes current land titling legislation.
The bill gives more power to the National Land Authority (Anati), such as a period of seven years for the role of administrator and the elimination of free titling in any of its forms.
Through these changes, the government seeks to plug loopholes left by the two existing laws.
Greater respect for property rights leads to faster economic development
The order of the countries in the 2011 International Property Rights Index (IPRI) report is less important than the conclusions that are possible to obtain by analyzing correlations between the parameters that comprise the index and economic development.
Owners holding possession rights for coastal lands and islands in Panama would be forced to get titles for them.
Panama's National Assembly recently passed a first version of Law 71, which would force titling all coastal and island properties acquired through possession rights.
PropertyInvestPanama.com explained that "the difference between rights of possession and legal title is that with the former you do not own the land, but actually lease it from the government". By titling more lands, the Government can tax them.
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