Arguing reasons of force majeure, the construction company Fomento de Construcciones y Contratas requested the Panamanian Social Security Fund to unilaterally cancel the contract for the construction of the hospital complex. This mega-project has been delayed for several years. Initially the contract for the design, construction and financing of the Hospital City was awarded in 2011 to the business group Fomento de […]
After five months of restrictions on productive activities, the Panamanian business sector proposes to shorten the dates of the “Updated Plan for National-Provincial Reopening” and to set that schedule in September. For the Chamber of Commerce, Industry and Agriculture of Panama (CCIAP), the country is not only experiencing a health pandemic, it is also in the midst […]
Panamanian President Laurentino Cortizo, sanctioned the law that creates the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services related to Manufacturing. After the deputies of the Panamanian Assembly approved in the third debate last month the bill that aims to promote investments in this context of economic crisis that derives from the outbreak […]
This is dumb move by Costa Rica and will certainly kill foreign relocation there. Currently in Costa Rica a territorial income system is applied, which consists of taxing profits produced exclusively at the local level. If the Income Tax Law is modified, the situation could change. On August 24th, the project called “Law for the inclusion of […]
Group from the Smithsonian Tropical Research Institute invited by the Panama Canal Authority to collect fish during the process of emptying and cleaning the Miraflores locks. After the locks were emptied, the team descends a scaffolding stairwell to the base of the chamber. They used nets to capture fish. Stay Safe!!
In the new business scenario consumers have increased the demand for household disinfection products, fruits, vegetables, vitamins and medicines, consumption patterns that could be maintained in the medium and long term. When the first cases of covid-19 were reported in Central America in March, the first reaction of people was to make compulsive purchases. Some of the products that […]
The Cabinet Council of Panama gave its approval late last week for the Updated National-Provincial Reopening Plan, paving the way to resume a number of industries, including horse racing and lotteries. Casinos are still waiting to reactivate their operations. The new regulations set out that the Hipódromo Presidente Remón, in Panama City, will be allowed to resume its schedule […]
After five months of having paralyzed the construction in the country because of the pandemic caused by the covid-19 outbreak, the authorities are reactivating the activities of the sector. 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 […]
Enel Green Power SpA announced on Thursday it has secured a contract to supply a total of 31 million kWh of clean energy in Panama over five years. Enel Green Power Panama (EGPP) has signed a power purchase agreement (PPA) with state lender National Bank of Panama (Banconal). Under its terms, the Panamanian subsidiary of Italy’s Enel […]
Did the Comptroller General of the Republic do its job of overseeing the modular hospital? This institution has among its official’s specialists, auditors, engineers, forensics … a complete team of professionals who can inspect the works paid by Panamanians who pay taxes. Professionals in the field and investigations of this medium found irregularities about that […]