ZLC Law: Good but Not EnoughMonday, May 10, 2021 After the announcement of the Bill that creates the Program for the Modernization of the Logistics Services Infrastructure in the Colon Free Zone in Panama, local businessmen believe that more attractive incentives should be sought. Last April 28, the Assembly reported that the Minister of Commerce and Industries, Ramon Martinez presented to the plenary of the Legislative Body the bill that creates the Program for the Modernization of the Infrastructure of Logistics Services in the Colon Free Zone (ZLC), and introduces amendments to Law 8 of April 4, 2016. Supermarkets: New Stores in Costa RicaWednesday, April 28, 2021 Between March and April, Walmart opened five new stores of the Palí format, located in Heredia, San José, Alajuela, Cartago and Guanacaste. The supermarket chain informed that the company invested close to $6.7 million to open these five new stores. With these recent openings, there are now 181 points of sale of the Palí format. FTA with South Korea Soon to Take EffectFriday, February 26, 2021 As of March 1st, the Free Trade Agreement signed between the Republic of South Korea and Central American countries will become effective. After several years of negotiations, the trade agreement between the countries of the region and the Asian nation will finally come into force next Monday. Economic Reopening: Plans in PanamaTuesday, January 12, 2021 After restrictions were imposed on people's mobility during the holiday season to stop the spread of covid-19, Panamanian authorities reported that as of January 14 there will be a return to the process of "gradual and asymmetric reopening. In a press conference, the Minister of Health, Luis Francisco Sucre, informed that due to the fact that a balance was achieved in the incidence of covid-19 cases, it was decided to lift the quarantine that had been in place since the beginning of the year and as of January 14 the curfew for the entire country will be from 9:00 p.m. until 4:00 a.m. the following day. Competition, Protectionism and MonopoliesFriday, December 4, 2020 After Grupo Lala decided to close the operations of its dairy production plant in Costa Rica, a debate began over whether Dos Pinos' dominance in the local market was due to protectionist policies or to the brand positioning, quality and price of its products. Although at the beginning of 2019 Lala announced that it had invested $14 million in the purchase of high technology machinery and in the expansion of its dairy plant in San Ramón, province of Alajuela, on December 1, 2020 it informed that they decided to close operations. Grupo Lala Reorganizes Operations in Central AmericaThursday, December 3, 2020 Arguing that there is greater potential for sustainable and profitable expansion in Nicaragua and Guatemala, the Mexican business group dedicated to dairy production decided to close the operations of its production plant in Costa Rica. Although at the beginning of 2019 Lala announced that it had invested $14 million in the purchase of high-tech machinery and in the expansion of its dairy plant in San Ramón, province of Alajuela, on December 1, 2020 it reported that they decided to close operations.
BUSINESS OPPORTUNITY
Residential Buildings: Tender for Rehabilitation WorksFriday, October 30, 2020 The rehabilitation, maintenance and improvement works of 17 residential buildings are being tendered, which are located in the township of Matias Iturrualde and Jose Domingo Espinar, district of San Miguelito, province of Panama. Panama Government Purchase 2020-0-03-0-08-LV-040592: E-Commerce Boom = Business Culture ChangesMonday, September 7, 2020 The transformation of purchasing habits caused by the boom in e-commerce at a regional level, forced companies to accelerate the process of implementing their plans, because now they must enhance their digital strategies and change their business culture. The outbreak of covid-19 and the restrictions to the mobility of people, caused the ideal scenario for the first eight months of the year in the Central American markets to report a clear upturn in interest in e-commerce services, with Guatemala, El Salvador, Honduras and Panama being the countries that registered the greatest increases in interactions associated with the topic. Panama Prepares to Resume ConstructionWednesday, September 2, 2020 After five months of having paralyzed the construction in the country because of the pandemic caused by the covid-19 outbreak, the authorities are planning to reactivate the activities of the sector next September 7th. In mid-August, the Ministry of Health gave the go-ahead to reactivate 27 road infrastructure projects nationwide. The remaining public and private projects will be able to restart their activities on September 7. Multinational Companies Law Moves ForwardWednesday, July 29, 2020 The Panamanian Assembly approved in first debate the bill creating the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services related to Manufacturing. This bill aims to create the Special Regime for the Establishment and Operation of Multinational Enterprises for the Provision of Services Related to Manufacturing (EMMA), in order to make Panama a more competitive nation in the global economy and adapt the attraction of investments in the provision of services and productive processes, manufacturing, as well as the generation of jobs and technology transfer, the Assembly reported. Panama to Speed Up Trade with MexicoFriday, July 24, 2020 Upon the signing of Decision No. 3 of the Free Trade Agreement between the two countries, a scheme will be established in early September to simplify the issuance of Certificates of Origin, based on current technologies. On July 22, the Panamanian and Mexican authorities signed Decision No. 3 of the trade agreement between the two economies. The document will become effective 45 days after its signature. Panama - South Korea FTA ConfirmedThursday, July 9, 2020 The Panamanian Assembly approved in third debate the bill 305, which ratifies the Free Trade Agreement between the Asian country and the Central American region. Once President Cortizo Cohen approves this law and it is promulgated in the Official Journal, it is expected that the corresponding diplomatic notes will be exchanged as soon as possible so that the FTA can come into effect, informed the Panamanian government. 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. Cargo Transport: Agreement between Panama and Costa RicaThursday, May 21, 2020 The Panamanian government announced that it had reached an agreement with the Costa Rican authorities that Panamanian heavy transport units would be given a 72-hour period to load and unload goods in tax offices. Arguing that it was an attempt to mitigate the spread of the covid-19, the Costa Rican presidency decided that from 18 May only transporters carrying out direct border-crossing would enter Costa Rican territory, whose units would be subject to police surveillance. In response to this announcement, Central American business and transport associations have spoken out against it and called for the restrictions to be lifted. Manufacturing: New Tax Regime in PanamaFriday, April 24, 2020 The Cabinet authorized the Minister of Commerce and Industry to submit to the Assembly a bill to create the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services Related to Manufacturing. The decision of the Executive, which seeks to reactivate the economy in the context of the health and economic crisis generated by the outbreak of covid-19, was made official through the publication in the Digital Official Journal, in Cabinet Resolution No. 26 of April 21, 2020. |
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