{"id":22747,"date":"2018-03-26T15:56:18","date_gmt":"2018-03-26T20:56:18","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=22747"},"modified":"2018-03-26T15:56:18","modified_gmt":"2018-03-26T20:56:18","slug":"spanish-italian-chinese-construction-firms-eye-projects-panama-vp","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/spanish-italian-chinese-construction-firms-eye-projects-panama-vp\/","title":{"rendered":"Spanish, Italian, Chinese construction firms eye projects-Panama VP"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Construction firms from Spain, Italy and China are interested in public works in Panama, Vice President Isabel Saint Malo told Reuters, filling a gap left by Brazil\u2019s Odebrecht, which is banned from tendering in the wake of a graft scandal.<\/p>\n

\u201cLatin America and Panama needs companies to understand that my country will no longer permit corruption in public works. There will be consequences,\u201d Saint Malo said in an interview last week.<\/p>\n

<\/div>\n

\u201cOdebrecht has maintained a presence in Panama for many years but we want new companies to arrive,\u201d she said. \u201cAnd companies are arriving … There are Spanish companies, Italian companies, Chinese companies with a lot of interest.\u201d She declined to name the companies as conversations were ongoing.<\/p>\n

<\/div>\n

China Construction America Inc stepped in to complete the Amador convention center in Panama City, which should be ready by year-end, Saint Malo said.<\/p>\n

However, the Chan II hydroelectric power plant is in limbo because Odebrecht won the contract but had not started work, she said.<\/p>\n

Panama was due to start negotiations with China soon over a trade deal that could open the world\u2019s second largest economy to more Latin American goods, the vice president said.<\/p>\n

\u201cWe think that Panama\u2019s geographic position and its port, air and maritime connections make it an ideal place to consolidate Latin American production for export to Asia,\u201d she said.<\/p>\n

The government of Panamanian President Juan Carlos Varela has allowed Odebrecht to complete projects already underway in Panama to minimize job losses and the economic impact of the scandal, drawing criticism from political opponents.<\/p>\n

<\/div>\n

Odebrecht agreed in August to pay $220 million in fines to Panama and to cooperate with investigators probing bribes of Panamanian officials, but was suspended from tendering for new projects while the investigation continued.<\/p>\n

Odebrecht admitted in a 2016 leniency deal with Brazilian, Swiss and U.S. authorities that it had paid hundreds of millions of dollars\u00a0in bribes since 2002 for infrastructure projects in 12 countries, including Brazil, Argentina, Colombia, Mexico, Venezuela and Panama.<\/p>\n

(Reporting for Reuters by Daniel Flynn; Editing by Frank Jack Daniel and Jeffrey Benkoe)
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    Construction firms from Spain, Italy and China are interested in public works in Panama, Vice President Isabel Saint<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[10,12,247,241,39,248,34,33,62,42,219,11,249,243,7,246,244,44],"class_list":["post-22747","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-bocas-del-toro","tag-boquete","tag-boquete-boca-chica-real-estate","tag-boquete-real-estate","tag-buenaventura","tag-casco","tag-casco-antiguo","tag-casco-viejo","tag-coffee-in-panama","tag-estate-homes-in-panama","tag-move-to-panama","tag-offshore-real-estate","tag-panama-offshore-real-estate","tag-panama-papers","tag-panama-real-estate","tag-relocate-to-panama","tag-rum-in-panama","tag-travel-to-panama"],"yoast_head":"\nSpanish, Italian, Chinese construction firms eye 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