Panama: Preferential Housing InterestsTuesday, May 21, 2019 Until May 21, 2025, the plan to grant preferential interest rates for mortgage loans in the country was extended. On May 20, Law No. 85 was published in Gaceta Oficial, which was approved by the National Assembly in April of this year and sanctioned this week by President Juan Carlos Varela. Construction in Panama: Uncertainty ContinuesMonday, June 29, 2020 The Ministry of Health decided to extend for the fourth time and for 15 more days the temporary suspension of the construction activity, arguing that it seeks to prevent, control and mitigate the covid-19 disease. On June 26, 2020, Executive Decree No. 840 was published in the Official Journal, by which the resumption of private construction projects was postponed until July 11. Financing for Social HousingMonday, August 3, 2020 The Panamanian government issued a decree to raise from $60,000 to $70,000, the maximum price for a home to apply to the Solidarity Fund contribution. Through this norm for the zone code RBS (Residencial Bono Solidario), the sale price for the housing unit and the lot cannot exceed the sum of $70,000 at the national level. Previously it was $60 thousand, for some provincial capitals, reported the Ministry of Housing and Land Management. Awards: Structural Reinforcement Works for $6 millionMonday, March 2, 2015 In Costa Rica an award has been made to the company Estructuras S.A. of a contract for structural reinforcement works on the Supreme Court building. Through the an Executive Directorate of the Judiciary the process of awarding the contract for the work "Strengthening structure of the building of the Supreme Court of Justice", was made for a total of $6 million. Incentive for Construction of Social HousingMonday, July 30, 2018 With the aim of encouraging more companies to invest in the development of social housing, the Varela administration has decided to raise from $50,000 to $60,000 the price of social housing solutions that are built in the provinces of Panama and Panama West. In the resolution, which was published last week in the Official Newspaper La Gaceta, it is argued that the decision to raise the final sale price of the homes was taken " ... in order to make it more attractive to developers nationwide so that they are interested in developing these types of projects." Zoning in Panama City SuspendedWednesday, September 3, 2014 Building permits will no longer be awarded for urban development of medium and high density communities in Ancon and San Francisco, in the Panamanian capital. The Ministry of Housing and Land has ordered the temporary suspension of zoning of medium and high density communities in Altos del Golf and Villa Lilla, in San Francisco, and Altos de Curundú and Llanos de Curundú in Ancon. Panama: $75 million for Customs ModernizationMonday, June 11, 2018 The Cabinet Council has approved a loan contract for investments in infrastructure and fiscal control equipment at the country's border posts. According to a decree published on June 5 in the Official Gazette, " ... the signing of the Loan Agreement ... between the Republic of Panama and the Inter-American Development Bank (IDB) has been authorized, up to the sum of seventy-five million dollars (US $75,000,000.00)." Construction Suspended in PanamaWednesday, March 25, 2020 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. Construction: Resuming Activities Postponed AgainThursday, June 11, 2020 Due to the outbreak of covid-19 the Panamanian Ministry of Health decided to extend for the third time and for 15 more days the temporary suspension of the construction activity, in the same terms expressed in Decree 506 of March 24. The spread of the virus forced the health authorities to suspend construction work in the country. In the first instance, it was reported that as of Wednesday, March 25 and for a period of 30 days, the suspension of construction industry activities in the projects currently under development in the national territory was decreed in Panama. Hardware Stores Authorized to Operate in PanamaWednesday, June 3, 2020 As part of the process of reactivating productive activities after overcoming the most critical phases of quarantine, the Ministry of Health ordered the reopening of the hardware stores in their regular hours and with attention to the public. Resolution 453 of the Ministry of Health was published in the Official Digital Journal on May 29, 2020, and authorizes the opening of hardware stores to the public. Cement: New Regulations to Apply in March 2020Thursday, December 19, 2019 The new technical regulation for cement in Panama, which was scheduled to come into force on December 3, will be applicable as of March next year. One of the new aspects of the regulation is that it requires national and importing cement companies to process a certificate of conformity and a civil liability policy for each lot to be marketed. Costa Rica: Expropriation Law Comes Into EffectWednesday, February 4, 2015 The law reform which reduces the deadlines for the State to take possession of the goods necessary for the execution of public works has been published in the official newspaper La Gaceta. After being passed by the Legislative Assembly last October, the Reformed Expropriation Act was finally published in the official newspaper La Gaceta and takes effect from today. Guatemala: Drop in Cement and Mining Taxes In EffectTuesday, November 17, 2015 The controversial taxes on the distribution of cement and mining royalties fell from $0.65 to $0.19 and from 10% to 1%, respectively. With the publication of the new values in the official newspaper La Gaceta, an end has been put to the doubts that arose in companies over the fact that it was not clear what were the correct amounts for each tax, after the Constitutional Court declared that the mechanism by which initially the new taxes were set was unconstitutional. Panama: Concession of Fuel TerminalMonday, October 24, 2016 The Maritime Authority will be granting a concession for the construction and operation of a fuel terminal in Gatun, district of Cristobal, Colon. The resolution by the Maritime Authority of Panama, published in La Gaceta, indicates that the Government wants to implement an "investment plan for the port sector in the country through this award, consisting of a set of pumping stations with their related equipment and storage tanks and pipelines installed underground for transferring fuel in the Atlantic sector." International Tender: Road DesignTuesday, July 21, 2015 The National Roads Authority of Costa Rica is inviting companies to submit expressions of interest for the predesign of three road rehabilitation works. From a statement issued by the Ministry of Public Works and Transport: |
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