Showing posts with label panama real estate. Show all posts
Showing posts with label panama real estate. Show all posts

Wednesday, September 8, 2010

Multi National Business Setting Up In Panama

Guest Article by By Tyler Ramos

The Panamanian economy has been expanding exponentially in recent years: and the government has reported rates of approximately 8.5 per cent growth per annum. With such strong economic expansion going on, it is no accident that there are more and more multinational and transnational companies that are shifting there and opening up offices in Panama and trade in the country.

One of the things that has been attracting international investors to the country is that the banking system there is strong and has not suffered any of the collapses that have been seen in some other Latin countries in the recent past as well as in North America and European countries too.

The canal is also under construction with massive expansions taking place and increasing the need for supplies and personnel and expertise from companies around the world. With the expansions also comes the increased ability for the canal to meet higher traffic demands. This expansion project is even bigger than the original canal project, which gives you an idea of the scale of the current project.

The government of the country has been working hard to remove barriers to entry into the markets there and allow businesses to set up and operate more easily than they have in the past. The government has also been working to reduce corruption in the country, which crippled the economy in the past. There are mechanisms being put into place that make the government much more efficient.

A further point to take into account when looking at why investment in the country is booming is that behind Hong Kong it is the largest free trade zone in the world. It also has the largest merchant navy and fleet internationally. There are also plans afoot to build five international airports in the country to facilitate the current demand and all for more flights to land and take off all the time.

On top of the infrastructure and benefits that are put into place by the government, there are other things that can attract people to the country. Some of these things are the geographic location, which is effectively a hub between North and South America and Central America and the Caribbean. As well as this it is not an earthquake danger area and it does not have hurricanes or other natural disasters that are countries in similar regions are prone to.

The economy is increasing drastically and there is more investment than ever before. There are so many compelling reasons for multinationals to be based in the country and lots of companies are only now beginning to understand the benefits to doing business there.

The economy has been growing at an impressive rate thanks to the work of the national government to take full advantage of the natural benefits the country has and the position that it can place itself on an international scale. With more and more multinational companies choosing to open up in Panama, it is likely that we will see the economy continue to grow well into the future.

About the Author:

Thursday, July 2, 2009

Latin American Construction Might Be Down, But It's Not Out

Note: Latin American Construction Might Be Down, But It's Not Out," at 2:17 GMT June 29 and repeated at 11:36 GMT June 30, misstated the market to which Levy-Yeyati was referring, in the 13th paragraph. Levy-Yeyati intended to refer to Panama, not Brazil. The correct version follows:

By Joan R. Magee
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Not too long ago, real-estate development in Latin America was hot, foreign money was flowing in, and local companies were going public as the construction industry boomed.

The global credit crisis put the brakes on that euphoria, as seen in plummeting commercial and residential expansion, though not all countries in the region have been hit the same way.

One barometer of construction and development is cement output, which is set to decrease 4.1% this year in South America from the previous year. It will fall another 1.4% in 2010, according to a Portland Cement Association report released earlier this month.

The association predicted a 1.7% global decrease in cement consumption for 2009, with growth in China and India masking declines in both developed and developing markets.

Mexico, close to the U.S. both geographically and economically, is one of the worst-hit in the aftermath of the U.S. housing implosion. The country's growth decelerated to 1.3% in 2008 from 3.2% in 2007, and the economy is expected to contract by close to 6% this year.

Mexican Finance Minister Agustin Carstens recently said demand for housing this year will likely fall 7.1% from 2008, even though available financing will be up 2.5%.

The government's National Infrastructure Program calls for public and private investment of around $40 billion a year between 2007 and 2012. And while private investment is down sharply in the current recession, public investment has filled some of the gap, thanks to counter-cyclical government spending.

Public support for infrastructure has been such that shareholders of construction firm Empresas ICA (ICA) have approved a plan to sell up to $350 million in shares to finance infrastructure projects that are already under way or ones the company plans to bid on. And Desarrolladora Homex (HXM), one of the largest Mexican home-building companies, said it expects 8% to 10% revenue growth this year.

Panama, once hyped as a hot destination for U.S. and European retirees looking for second residences, has faltered. Overall construction activity plunged 25% to $97 million in April from $130 million in April 2008, government officials said.

The slowdown follows several years of solid economic growth, buoyed in large part by the Panama Canal widening project. Fast development had even led to concerns about overbuilding among some Panamanian policy makers.

Latin America's largest economy, Brazil, has taken measures to counter a first-quarter drop in construction, which fell 9.8% in year-on-year in the first quarter.

The government recently approved $15.2 billion for low-income housing over the next 15 years, which bodes well for an uptick in growth.

"Most other markets were buttressed not by mortgage credit, but by the incomes of the middle-upper class," said Eduardo Levy-Yeyati, a director and head of emerging markets strategy at Barclays Capital.

The Brazilian economy shrank for a second straight quarter in the first quarter of this year, although the government still has hopes for modest growth in all of 2009, following 5.1% expansion in 2008.

And the 2014 World Cup soccer tournament, though somewhat in the distance, will span 12 cities in Brazil and spur more development.

Brazil's government is already pouring money into World Cup infrastructure, from new hotels to stadiums, in preparation for the waves of tourists to come.

"Construction will weaken as in a typical recession, but will not tank as in the U.S., the U.K. or Spain," Barclays' Levy-Yeyati said.

Indeed, Portland Cement Association predicts cement output in South America will rise 6.9% from 2010 by 2011, auguring a turnaround in the near future.

-By Joan R. Magee, Dow Jones Newswires; 212-416-2672; joan.magee@dowjones.com.

Friday, April 11, 2008

Panama Video

Here are a couple of videos I came across from our friends at Prima Panama. Unfortunately, Prima is no longer offering their Premium Passport service, which I must say was excellent. I believe the airport VIP greeting is still available through a different group. I will let everyone know on the Learn About Panama Blog as soon as I have additional information. For now enjoy these scenes and interviews by our friends at Prima.

Part 1



Part 2


Tuesday, March 25, 2008

Panama Travel and Tourism


Here's a great video I came across recently on YouTube. This was put together by IPAT - Instituto Panameno de Turismo. In just 3 minutes it captures the beauty and diversity of Panama, enjoy!

Panama YouTube Video

Blogged with the Flock Browser

Monday, February 25, 2008

We're Back! from Panama

Hey! We're back from our latest Panama adventure.

Check out this beach!















I took a ton of pictures and plenty of video too. Rather than post them all here I find it easier if I just put it them in one spot where you can find everything.

For photos I use flickr.

Go to - Flickr.com/LearnAboutPanama

And Here's a little sample of video -

For more videos, I upload those to my YouTube page here - YouTube.com/PanamaMark

Enjoy and let me know what you think! I'd really like to read your comments.

Mark

Thursday, January 3, 2008

Panama Real Estate Property Tax Exemptions are Back

Great News from the Government of Panama! Just before Christmas the following article appeared in La Prensa -

La prensa – december 22, 2007

BRIEFS. Real estate

Property Tax exoneration extended

The Consejo de Gabinete has approved an extension of the 20-year property tax exemption for apartments and houses, according to minister of Housing Balbina Herrera.

The measure applies to projects whose building permits are issued before Dec. 31, 2009. Herrera explained that the measure extends the property tax exemption that expired in August.

Iván Carlucci, president of the Asociación de Corredores de Bienes Raíces (Acobir), said that "this change is healthy, and it is a sign that the sector will continue to grow dynamically."

Carlucci said that the waiver, which will benefit all types of buyers, gives Panama a competitive edge over other countries in marketing real estate projects.


Read more about the changes and Panama Real Estate Opportunities at the Learn About Panama Blog.