Moderators Moderator_02 Posted May 15, 2018 Moderators Share Posted May 15, 2018 Quote Disappointing Construction Figures In the first three months of 2018, the cost of new construction, additions and repairs in Panama fell by 40% compared to the same period in 2017, going from $542 million to $325 million. Friday, May 11, 2018 The latest figures from the Comptroller General of the Republic show that in the first quarter of the year the highest cost of new construction, additions and repairs (excluding state works) was registered in the district of Panama, with a total of $207 million. They were followed by Colón, Arraiján, La Chorrera and Santiago, with $40 million, $26 million, $17 million and $15 million, respectively.See "Construction: Upcoming works in Central America"Regarding the type of construction, from January to March 2018 the highest value was registered in residential projects, with a total of $174 million, 36% less than the figure reported in the same period in the previous year. See also "Central America: $4 billion in residential projects"For the quarters in question, the category of non-residential construction also registered a drop of 44%, down from $272 million to $152 million. Added to this not very encouraging data is the problem of the strike in the sector, which has halted some 260 construction works since April 18. Among the major projects affected are the expansion of Tocumen International Airport and Line 2 of the Panama Metro. The reason for the strike is the lack of consensus between the business sector and the workers' union, which can not agree on the definition of a collective agreement. See "Construction in crisis"See complete statistics. (In Spanish) https://www.centralamericadata.com/en/article/main/Construction_Figures_Not_Very_Encouraging Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted June 2, 2018 Author Moderators Share Posted June 2, 2018 Quote Construction Down 41% In the first four months of 2018, the cost of new construction, additions and repairs in Panama fell by 41% compared to the same period in 2017, going from $755 million to $449 million. Thursday, May 31, 2018 The most recent figures from the Comptroller General of the Republic detail that in the first four months of the year the highest cost of new construction, additions and repairs was registered in the district of Panama, with a total of $290 million. They were followed by Colón, Arraiján, Santiago and La Chorrera, with $41 million, $37 million, $29 million and $25 million, respectively.See "Construction: Upcoming works in Central America"Regarding the type of construction, between January and April of 2018 the highest value was registered by residential projects, with a total of $256 million, 37% less than was reported in the same period of the previous year. See also "Central America: $4 billion in residential projects"By type of construction, a 45% drop in the cost of residential projects was reported in the period in question, decreasing from $353 million to $193 million.See full report by the Comptroller. https://www.centralamericadata.com/en/article/main/Construction_Down_41 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted August 3, 2018 Author Moderators Share Posted August 3, 2018 Quote Downturn in Construction Continues At the end of the first semester of the year, the cost of new construction, additions and repairs in Panama fell by 43% compared to the same period in 2017, reaffirming the trend seen since last year. Wednesday, August 1, 2018 Gone are the days of a real estate boom in Panama. This has been confirmed by the figures that have been seen since last year in the construction sector. Not only has the value of new constructions been continuously falling, but also the number of projects that are being developed and even that submission of environmental impact studies.The most recent figures from the Comptroller General of the Republic show that between January and June of this year the cost of new construction, additions and repairs amounted to $662 million, and the number of projects for which construction permits were granted was 4,188. These figures are far from those reported up to June of last year, when the value of projects exceeded $1.1 billion, and the number of projects was around 7,100.See "Construction: $235 million in residential projects"Between January and June of this year the district of Panama was the area that registered the highest cost for new constructions, additions and repairs, with a total of $424 million and 706,000 square meters. It was followed by Colón, Arraiján and La Chorrera, with $63 million, $55 million, $47 million, respectively. In terms of types of construction, in the first semester the highest value registered was for residential projects, with a total of $350 million, 44% less than was reported in the same period in the previous year. https://www.centralamericadata.com/en/article/main/Downturn_in_Construction_Continues Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted September 1, 2018 Author Moderators Share Posted September 1, 2018 Quote Panama: Construction Drops 40% From July 2018, the cost of new construction, additions and repairs in Panama fell by 40% compared to the same period in 2017, reaffirming a trend seen since last year. Thursday, August 30, 2018 The most recent figures from the Comptroller General of the Republic detail that between January and July of this year the cost of new construction, additions and repairs totaled $793 million, and the number of projects for which construction permits were granted was 5,033. These figures are far from those reported up to July of last year, when the value of projects exceeded $1.1 billion, and the number of projects exceeded 8,000.See also: "Upcoming construction works in Central America"During the first seven months of this year, Panama was the province that registered the highest cost of new construction, additions and repairs reported, with a total of $524 million and 860,000 square meters. They were followed by Arraiján, Colón and La Chorrera, with $66 million, $64 million, $57 million, respectively. See report by the Office of the Comptroller General of the Republic. https://www.centralamericadata.com/en/article/main/Panama_Construction_Drops_40 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted August 8, 2019 Author Moderators Share Posted August 8, 2019 Quote Construction: Optimism for PPP Regulation With the proposed regulatory framework for Public-Private Partnerships in Panama, construction businessmen hope to ensure that the projects conclude with the required parameters and that the processes are transparent. Tuesday, August 6, 2019 At the end of July, the Ministry of Finance presented a bill to modify the law regulating public contracting, which has among its objectives to take into account mechanisms that allow for price analysis, market investigations, citizen complaints, participation of civil society and the private sector, in addition to accountability, transparency, the mandatory nature of open contracting and disclosure of information. On the specific issue of Public-Private Partnerships (PPP), the proposal creates the regime for this type of contracts, which must be approved by the Cabinet Council, an Advisory Committee and a Governing Body. You may be interested in "Construction: New Investments in Central America” Hector Ortega, president of the Panamanian Chamber of Construction (Capac), explained to Panamaamerica.com that "... creating a regulatory framework for the PPP ensures that the project reaches completion with the requested parameters. The works approved under the PPP contract must be planned by the State and, in addition, necessary for the population." Luis Pimentel, president of the Panamanian Association of Real Estate Brokers and Promoters (Acobir), stated that "... these regulations guarantee that there will be a greater participation of companies and more transparency. The reform to the Public Contracting Law and the regulation to the PPP creates or gives clear rules to enter public tenders. But additionally they want to give a greater opportunity to small enterprises." https://www.centralamericadata.com/en/article/main/Construction_Optimism_for_PPP_Regulation Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted August 9, 2019 Author Moderators Share Posted August 9, 2019 Quote US companies take fresh look at Panama state projects Posted 08/08/2019 Construction companies in the United States, which for years have steered clear of Panama government projects as bribery allegations have clouded bidding processes are among those interested in bidding for a contract to build a power transmission line from Colon to Panama. The project is tendered by state-owned Etesa ( Empresa de Transmission Eléctrica, SA .), With a reference price of $98.5 million. The presentation of offers was set for November 7. The Brazilian Odebrecht company which was the center of Latin America’s biggest bribery scandal and Asian and European construction giants are among is among those interested in building the line, https://www.newsroompanama.com/business/us-companies-take-fresh-look-at-panama-state-projects Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted August 22, 2019 Author Moderators Share Posted August 22, 2019 Quote New Law for Public-Private Partnerships The National Assembly of Panama approved in first debate the bill establishing the Public-Private Partnership Regime. Tuesday, August 20, 2019 On August 19, the Economy and Finance Commission approved in the first debate the project that seeks to regulate the contracts, generally long term, between the public and private sectors for the design, construction, repair, expansion, financing, operation, maintenance, administration and/or supply of projects and services such as roads, energy, telecommunications, public transportation, ports and water treatment, among others. See "PPPs to Boost the Economy”" and "Construction: Optimism for PPP Regulation” The Assembly statement explains that "... This Regime incorporates experiences, knowledge, equipment, technology, technical and financial capabilities, measures risks and resources, in order to create, develop, improve, operate and/or maintain public infrastructure for the provision of public services. Rafael Sabogne, Minister of Public Works, indicated that this project encourages private investment in the construction and development of public infrastructure works, so that it is not a total responsibility of the national treasury. The approval of this law would place Panama in an excellent position in investment grade. The auditing firm BDO was in favor of the approval of this law, as confirmed by attorney Publio Cortés, as well as the Chamber of Commerce. However, members of the National Council of Workers are against the document, alluding that it is necessary to further study the project to verify whether it is actually beneficial to the population." https://www.centralamericadata.com/en/article/main/New_Law_for_PublicPrivate_Partnerships Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted August 23, 2019 Author Moderators Share Posted August 23, 2019 Quote Construction Materials: Prices up to July 2019 In the seventh month of the year, the galvanized corrugated zinc foot in Panama grew 3% over July 2018, and the 30-foot stretch of steel rod decreased by 3%. Wednesday, August 21, 2019 In July 2019, compared to the same period in 2018, the IP that showed increases were: the unit of the current collector for polarized box in 11.7%, the foot of Zinc N° 26 corrugated galvanized in 2.8% and the yard of Stone N°4 in 1.7%. Likewise, the Arena yard increased by 0.2%, reported the Comptroller of the Republic of Panama. The document states that "... On the contrary, the IP of the foot of Stranded Electric Cable N°12 decreased by 6.3%, that of the 30-foot section of the steel rod of ½" by 3.1%, and that of the cubic meter of ready-mixed concrete by 2.6%. They also decreased the 94 lb. bag of gray cement by 2.3%, the foot of unbrushed espave wood by 1.9%, and the foot of Carriola N°4 by 1.0%. At the same time, the IP of the hundreds of Blocks of both Cement and Clay, both N°4, maintained the same price level as in the similar month of the previous year. The IP of the foot of the Carriola N°4 decreased for July in relation to June of this year, in 5.0%. Likewise, the IP of the foot of Zinc N°26 galvanized corrugated in 1.1%, and that of the 30 feet section of the steel rod of ½" in 0.9%, showed a decrease. The other 10 materials of the 13 investigated, did not show variation on the price registered in June. The average from January to July 2019, with respect to the same period of 2018, showed increases in the Indexes of the unit of the current collector for polarized box in 12.4%, of the foot of the Carriola N°4 in 5.6% and that of the foot of Zinc N°26 galvanized corrugated in 4.2%." See full report. https://www.centralamericadata.com/en/article/main/Construction_Materials_Prices_up_to_July_2019 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted September 2, 2019 Author Moderators Share Posted September 2, 2019 Quote PPP Law Discussion Suspended After the workers and union sectors rejected the bill creating the Public-Private Partnership Regime in Panama, the Assembly decided to suspend its discussion in the second debate. Thursday, August 29, 2019 Responding to the request to extend the period of consultations by a sector of the country, the plenary of the National Assembly suspended discussion of the second debate of Bill 12, which creates the Private Public Association Regime (APP) as a tool for the development of private sector investment, social and job creation, reported the government on August 27, 2019. Tito Rodríguez, second vice-president of the National Assembly, explained that "... a halt has been made to reach a little "more consensus" among deputies of all benches, as well as to listen to the comments of other organizations such as the National Council of Organized Workers (CONATO).” See "PPPs to Boost the Economy" and "Construction: Optimism for PPP Regulation” Rodriguez added that "... The project is not bad, what is needed is to give a greater explanation because the spirit of the document is aimed at "boosting the economy of the country." With the approval not only this government, but the next two administrations will have the tool for major works." The last advance reported in this initiative was on August 19, when the Economy and Finance Commission approved in the first debate the project that seeks to regulate contracts, generally long term, between the public and private sectors for the design, construction, repair, expansion, financing, operation, maintenance, administration and / or supply of projects and services such as roads, energy, telecommunications, public transport, ports and water treatment, among others. https://www.centralamericadata.com/en/article/main/PPP_Law_Discussion_Suspended Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted September 4, 2019 Author Moderators Share Posted September 4, 2019 Quote Panama: Construction Investment Declines 14% Construction activity continues to decline, with $683 million in new construction, additions and repairs reported from January to July 2019, 14% less than the same period in 2018. Monday, September 2, 2019 According to the latest report of the General Comptroller of the Republic, in July of this year the cost of new constructions, additions and repairs totaled $173 million, 10% below the figure for the same month in 2018. You may be interested in "Construction: Next Investments in Central America” Between the first seven months of 2018 and the same period in 2019, the total cost of construction increased from $793 million to $683 million, a 14% drop. Also see "Cement: More Business between Central America and Mexico” From January to July of this year, Panama was the province with the highest cost of new construction, additions and repairs reported, with a total of $428 million. It was followed by La Chorrera, Colón and Arraiján, with $79 million, $59 million and $58 million, respectively. See report of the General Comptroller of the Republic. https://www.centralamericadata.com/en/article/main/Panama_Construction_Investment_Declines_14 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted September 7, 2019 Author Moderators Share Posted September 7, 2019 Quote Panama: PPP Bill to Third Debate, but with Changes The removal of the disqualification from hiring natural and legal persons who have been sentenced for corruption is one of the most important changes made to the bill that creates the Public-Private Partnership Regime. Thursday, September 5, 2019 Although the bill has faced multiple obstacles, since a few days ago its discussion in the Assembly was suspended because workers and union sectors rejected the original bill, it was approved in the second debate, but with some changes. Prensa.com reports that "... During the permanent session, deputies Cenobia Vargas, Olivares Frias, Melchor Herrera, Ricardo Torres and Gonzalo Gonzalez, all from the Democratic Revolutionary Party, presented reforms to article 67. In this article, the disqualification from hiring natural and legal persons who have been convicted, in the 10 years preceding the hiring, by judicial sentence was eliminated." See draft bill. You may be interested in "PPPs to Boost the Economy" and "Construction: Optimism for PPP Regulation” From the Assembly statement: In the second debate, the regime of Public-Private Partnership (PPP) was approved, after welcoming more than 30 modifications that better defined its concept and objectives. Among the changes to the original norm of Project No.12 was the constitution of the governing body with the participation of a representative of the National Assembly, and also with respect to the fact that companies condemned for corruption cannot participate in the works contracted through the PPPs. With regard to the validity of the PPP contracts, it was 30 years, extendable for an additional period of ten years, and that state-owned banks can only finance up to 25% of the total works contracted through the system. The governing body will be composed of the ministries of the Presidency, Economy and Finance, Public Works, Trade and Industry, Foreign Affairs and was added to a member of the National Assembly, in addition to the Comptroller General with their respective alternates. It was also approved that no PPP contract be less than 15 million balboas, except for this measure that are developed under the protection of municipalities. A large number of deputies considered that it is a way to boost the economy and generate jobs since the state does not have enough resources to promote the large projects that the country needs. In the article it is made clear that the National Institute of Aqueducts and Sewers (IDAAN) is exempted from this regulation in order to dissipate rumors about a possible privatization of this entity. Source: Prensa.com https://www.centralamericadata.com/en/article/main/Panama_PPP_Bill_to_Third_Debate_but_with_Changes Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted September 9, 2019 Author Moderators Share Posted September 9, 2019 Quote OPINION: Flaws in Public-Private partnership bill Posted 08/09/2019 This week begins the final stretch of the approval process of the Public-Private Partnerships (PPP) bill. A balanced and modern standard would help Panama in the task of attracting quality foreign investments while discharging a significant weight from the shoulders of the national budget and generating much-needed jobs in the current situation in the country. The project approved in the second debate contains important weaknesses that must be addressed. On the one hand, the deputies were included in the board of the PPP governing body, creating a serious distortion that lends itself to political patronage. On the other hand, restrictions on natural or legal persons convicted of corruption were eliminated. In addition, the PPP scheme lends itself to conflicts of interest and lack of transparency, by not including key actors such as municipalities or the final beneficiaries of the projects. As noted by the Attorney General of the Administration, this project does not incorporate the latest international advances in the fight against corruption. PPPs can be a great mechanism to improve the quality of many public services. If good rules are not established, the integrated management of PPPs will be lacking, and they will become another missed opportunity. - LA PRENSA, Sep 8 https://www.newsroompanama.com/opinion/opinion-flaws-in-public-private-partnership-bill Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted September 14, 2019 Author Moderators Share Posted September 14, 2019 Quote Free Way for PPP Law In Panama, in the third debate, the bill creating the Public-Private Association regime was approved, which in its latest version set limitations on companies accused of acts of corruption. Thursday, September 12, 2019 According to the text approved and awaiting the approval of the Executive, companies that are delinquent in the payment of fines for breach of contracts, will also have limitations to participate in these public concession model. You may be interested in "PPPs to Boost the Economy” and "Construction: Optimism for PPP Regulation” From the National Assembly statement: With the inclusion of the rules to be able to compete in the tender processes, was endorsed in third debate the bill 12 that creates the regime of Public-Private Partnership (PPP) as a method to attract private investment and generate jobs. After introducing modifications, especially those that establish the limitations to the companies indicated in acts of corruption and the exclusion of a representative of the National Assembly in the entity responsible for defining the works to be developed under this scheme, the vote in favor was carried out. The Vice Minister of Public Works, Librada de Frías, showed the Executive's complacency because, she emphasized, this project will allow the Government to fix the major works that will be executed in this five-year period. The period of validity of the PPP contracts was established for a 30-year period, extendable for an additional ten years, in addition to the fact that state-owned banks may only finance up to 25% of the total works contracted through the PPP system. Similarly, it provides that no PPP contract will be less than 15 million balboas, except for this measure contracts that are developed under the protection of municipalities. https://www.centralamericadata.com/en/article/main/Free_Way_for_PPP_Law Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted October 5, 2019 Author Moderators Share Posted October 5, 2019 Quote Panama conducive ro public/private partnerships Posted 03/10/2019 The business and investment climate in Panama is conducive to attract and develop new public-private partnerships (PPPs) and is among the 10 economies in the region with the best environment to promote these alliances, according to a study prepared by The Economist Intelligence Unit and the Inter-American Development Bank (IDB) . The report analyzes five different categories to evaluate and determine the performance of PPPs in the region and the impact they have on the gross domestic product of the countries and the capacity they have to supervise and monitor concession contracts. In the investment and business climate category, Panama is ranked number seven, out of a total of 21 countries and has a score of 75 out of 100. Peru is ranked first with 87 points; followed by Bahamas (85); Barbados (85); Dominican Republic (84); Jamaica (80); Ecuador (78) and Panama with 75 points alomgside Trinidad and Tobago. https://www.newsroompanama.com/business/panama-conducive-ro-publicprivate-partnerships Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted March 4, 2020 Author Moderators Share Posted March 4, 2020 Quote Panama: Construction Starts 2020 Successfully In January 2020, investment in new construction, additions and repairs amounted to $109 million, 53% more than reported in the same period last year. Monday, March 2, 2020 This increase occurs in an unfavorable context, since last year the construction activity in the country continued to decline for the second consecutive period, since between 2018 and 2019 the total investmentfell 14%, a rate lower than that reported between 2017 and 2018, of -39%.You may be interested in "Construction: Upcoming projects in the region"The most recent data from the Comptroller's Office indicate that between January 2019 and the same month in 2020, investment in construction increased by $38 million, from $71 million to $109 million.During the first month of the year Panama was the province that registered the highest cost of new construction, additions and repairs reported, with a total of $60 million. It was followed by La Chorrera and Arraijan, with $18 million and $14 million, respectively.See full report (in Spanish). https://www.centralamericadata.com/en/article/main/Panama_Construction_Starts_2020_Successfully Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted July 13, 2021 Author Moderators Share Posted July 13, 2021 Quote Residential construction and repairs boosts construction sector Posted 12/07/2021 Construction and repairs in the residential segment raised the construction sector during the first five months of 2021. The Comptroller General reported that, between January and May, investments in construction and repairs in the residential segment increased 47.7%, to close at $239.4 million. Including the commercial or non-residential sector, investments in new construction and repairs totaled $296.8 million through May, an upturn or recovery of just 2.6%. The Comptroller also reports that investments in non-residential projects decreased 55.1% in the first five months of the year, to $57 million. Despite the 2.6% rebound in construction in the first five months of the year, the industry is still 26% below the numbers that this sector of the economy had during that same period in 2019. In his speech before the National Assembly, on July 1 President, Laurentino Cortizo said that in the coming months more than 214 projects will be promoted that represent an investment of more than $1.824 billion, which will generate about 4,000 jobs in different parts of the country. https://www.newsroompanama.com/business/residential-construction-and-repairs-boosts-construction-sector Quote Link to comment Share on other sites More sharing options...
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