Taking measures to reactivate the productive sectors, make better use of public-private partnerships and boost tourism is part of what the private sector expects from the Panamanian government in the coming year.
Six months before the Cortizo administration takes office, Panama's business sector is asking it to make the decisions the economy needs to be able to continue on the path of development, and above all, not to lose competitiveness both domestically and in relation to its peers in the region, and to be able to continue to attract foreign investment.
Although several sectors disapprove of the initiative, in Nicaragua the Legislative Commission in charge of the reform endorsed the bill that seeks to remove the power of businessmen to propose their representatives to the Coffee Commission.
On August 14, the Production and Economy Commission of the National Assembly ruled positively on the initiative presented by President Ortega to modify the Law for the Transformation and Development of Coffee Farming.
The Nicaraguan government seeks to deprive the business sector of the power to propose its representatives to the National Commission for the Transformation and Development of Coffee Farming.
President Daniel Ortega presented an initiative to the National Assembly to modify the Law for the Transformation and Development of Coffee Farming, which among the changes includes that the Members of the Superior Council of Private Enterprise (Cosep) do not have the power to propose their representatives to the National Commission for the Transformation and Development of Coffee Farming (Conatradec).
Through a regional association, companies dedicated to the cosmetics and personal care business in Central America work together to help simplify procedures and improve health regulations.
The aim of the association, composed of guilds from several countries in the region and manufacturing and importing companies, is to support government institutions in the creation of standards and rules that facilitate trade and improve conditions of access to markets, both regionally and to the external market.
The determination of how much and how the minimum wage should be regulated, something that occasionally seems to be done in an arbitrary manner and for political purposes, continues to be one of the factors that most confront Central American businessmen and governments.
In Costa Rica, a 3% increase in the minimum wage was approved for 2019; in El Salvador, an increase is expected to be discussed, and in Guatemala, the commission in charge of the issue reported that no increases will be made this year.
Reducing trade barriers and procedures, increasing legal security and improving productive infrastructure are part of the changes required by the business sector for the region's economic development.
In Guatemala, the 12th Ibero-American Business Meeting is held, in which the private sector presents proposals to face the current challenges and generate opportunities for the countries of the region.
The union is made up of 50 Salvadoran companies, and aims to promote opportunities for commercial exchange with companies in the European country.
Last week the Bilateral Chamber of Commerce of the Netherlands in Central America (NETHCHAM) was inaugurated, which will mainly seek to increase exports from El Salvador to the Netherlands.
In Nicaragua, President Ortega has revoked the controversial law to reform the National Institute of Social Security, but demonstrations continue and business leaders are calling on the government to have a dialogue.
Five days of protests, looting and several deaths in different areas of the country is the result of the controversial reform that the Ortega administration announced on Wednesday, and which only five days later, it had to revoke in order to try to ease social tension.The reform aimed to raise the contribution paid by companies by 2% and employees' contribution by 5%, effective from July.The presidential decree 04-2018 was published this Monday in the Gazette number 76.
In Nicaragua, the private sector is opposed to the reform of the Social Security law recently approved by the Ortega administration, which increases the contribution quota of companies by 2%.
Loss of competitiveness, unemployment and greater informality is what entrepreneurs in Nicaragua predict would be the result of the reform of the Social Security law, which according to thepublicationin the official gazette, will come into force in July of this year.
Entrepreneurs from the South American country are interested in exporting appliances, seafood and wood products to the Nicaraguan market.
The goal of the Nicaraguan-Ecuadorian Chamber of Commerce, Industry and Commerce (Caniec) is to take full advantage of the partial scope trade agreement signed by both countries last year.
With the aim of increasing trade relations between both countries, efforts will be made to facilitate customs and consular procedures, in order to expedite border procedures and others.
The president of the Nicaraguan - Costa Rican Chamber of Industry and Commerce, Mario Solano Salazar, recently called on the various companies that maintain commercial relations with Costa Rica, and the main companies founded with Costa Rican capital, to reactivate, on Tuesday, March 6, 2018, in the the Embassy of Costa Rica in Nicaragua, the Nicaraguan - Costa Rican Chamber of Industry and Commerce (CADICONIC), in order to strengthen the expansion of trade relations between both countries and to facilitate customs and consular procedures so as to expedite the procedures related to border and procedural matters.
An ICEFI study concludes that corruption in Guatemala, El Salvador and Honduras covers "virtually all sectors" and in Guatemala alone, the losses generated are estimated at $550 million per year.
The book "Corruption: Its Paths and Impact on Society and an Agenda to Confront it in the Central American North Triangle", "... studies the relationship between corruption and democracy, highlighting that corruption in the C.A.N.T -El Salvador, Guatemala and Honduras - has special characteristics derived from historical aspects, such as the construction of weak states, periods of authoritarianism, civil war and counterinsurgency systems, and the impairment of judicial independence."
On October 18, businessmen from the region will be gathering together in Guatemala City to participate in business meetings and conferences on topics related to industry, innovation and business.
From a statement issued by the Chamber of Industry in Guatemala:
Guatemala, July 18, 2017.The Chamber of Industry of Guatemala -IG- and the Federation ofChambers and Industrial Associations of Central America and the Dominican Republic -FECAICA- presented this morning theFirst Regional Regional Summit 2017, to be held on October 18 at the Westin Camino Real Hotel in the city of Guatemala.
Beyond the political differences that some insist on highlighting, businessmen from both countries have developed a growing business relationship that has led to the trade balance growing by more than 40% in the last six years.
From an editorial article by the Superior Council of Private Enterprise of Nicaragua:
In recent years, news about the relationship between Nicaragua and Costa Rica has been focused mainly on discord between the two countries, territorial disputes, rulings by the International Court of Justice, the migratory border crisis, and differences between presidents.Much ink and paper has been used to highlight the negative, that which sets us apart.
From April 23 to 25 an Ibero-American meeting of chambers of commerce, industry and services will be held in the capital of Nicaragua.
The meeting is being organized by the Chamber of Commerce and Services of Nicaragua and the American Association of Chambers of Commerce, Industry and Services (AICO), and will bring together business representatives from Latin America and Spain.
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,...