This is something Panama must focus on if it is to keep up with the rapid growth we are undergoing and also remain competitive to attract industry to locate here.

Industrialists are starting to look at transferring their plants to countries where energy costs are lower.

The high cost of electricity bills has caused some industries to look at moving their operations out of the country in the search for savings and competitiveness.

Corporación Yanber, a manufacturer of packaging for trade, industry and agriculture, decided to go to Nicaragua eight months ago, and other companies are evaluating the possibility of moving their operations to countries where the energy sector impinges less on the cost of their products.

Carlos Montenegro, deputy executive director of the Chamber of Industries of Costa Rica (ICRC) says that “this year alone the rates have increased by 30% and among the impacted sectors are agribusiness, food production, cement, glass, plastics, and rubber manufacturers, as well as the industries for printing, wood, metal mechanics, chemicals and textiles . “

Source: Nacion.com