After learning that the state’s debt to public infrastructure contractors is about 300 million dollars, Panama Association of Business Executives (Apede) He stated that this not only affects investments, but also inhibits the dynamism needed by the construction sector to create jobs.
“This not only affects liquidity and the ability to execute projects, but also the dynamics that can affect small businesses, subcontractors and workers,” he said. Temístocles Rosas, president of the union.
He added that it also affects the progress of projects, because many they must slow down the pace of executionbecause they do not have a parallel payment rhythm.
Financing was recently approved and a construction contract was signed the fourth bridge over the Panama Canala chapter that took the government more than two years to complete, which called into question the implementation of this important work.
On the other hand, other important infrastructure projects in the framework Public Private Partnership (PPP)such as the Costanera Highway and the comprehensive reconstruction of the Pan American Highway, have not yet begun, and the Government has less than 500 days to conclude its management.
This bureaucracy is another element that worries Apede.in this phase of economic reactivation, despite the positive figures recorded by our economy.
“We have a highly bureaucratized civil service; many times one entity does not coordinate with another. On the one hand, we are trying to bring investments, and on the other hand, we issued an executive order regulating work permits and stopping that investment,” said the president of Apedea.’
300 dollars
million is the debt that the state has towards private companies, which affects investments.
10.8%
The economy grew in 2023, according to the estimates of the Ministry of Economy.
And that’s it, despite the fact that it is economy grew by 10.8% in 2022an effort is needed to turn it into better opportunities for the majority of Panamanians.
“Now, salaries and permanent workers are less than in 2019; that is the challenge we have. We are growing, but we have to turn it into employment opportunities for Panamanians,” said Rosas.
The businessman referred to another sector that creates new jobs, such as Tourism and the criterion is that more incentives must be injected into entrepreneurial activities that help this economic activity.
“These are the measures we have to take, in order to investments that turn into jobs. Let’s adjust things to strengthen the economic model,” he said.
On that issue, he recognized the turn of the helm that the Government gave in relation to cruise activitypromising to speed up the delivery of the terminal of Isla Perico, in Amador, a job which, since it was not ready, caused inconvenience to the cruisers who warned that they would not continue to operate in the country, as a result of this situation.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
