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Experts urge public and private sector to reactivate construction in Panama

Participants in a forum on the future of construction in Panama highlighted today that only with public policies implemented hand in hand with the private sector will drive the sustainable growth of this sector, which since 2015 is in a natural low cycle.

Panama, Sep 12 (EFE) .- Participants in a forum on the future of construction in Panama highlighted today that only with public policies implemented hand in hand with the sector private sector will boost the sustainable growth of this sector, which has been in a natural low cycle since 2015.

The event called "Construye Panama", organized between others, by the Spanish company El Corte Inglés together with the Panamanian Chamber of Construction (Capac), the Panamanian Society of Engineers and Architects and the College of Architects, discussed in addition to the obstacles that have slowed down this important engine of the Panamanian economy.

The forum brought together professionals from architecture, engineering, interiorism and construction, industry that according to figures cited by Capac contributed with 31.7% of Panama's gross domestic product (GDP) between 2007 and 2014.

According to these same data, prepared for Capac by the consulting firm Investigaciones y Desarrollo, S.A. However, the president of Capac, Iván De Ycaza, said during the colloquium that a series of "adverse factors" have led to the industry since the second half of 2015.

of construction "entered the recessive part of its natural cycle."

Ycaza detailed that among the factors identified and that have appeared at the "worst possible moment" are the excessive bureaucracy with the multiplication of requirements and procedures, municipal agreements with rules that restrict the execution of works, increase of municipal taxes and service fees

This bureaucracy that has been accumulating along with the formalities and requirements that are given year after year and Government after Government, according to De Ycaza, "has reached such a point that it is quite difficult to work" and "materialize the projects", added to the increase in the cost of real estate and increases in labor.

all these are obstacles that make it more difficult to achieve a sustainable development of the construction, taking it to the recession at the moment.

The President of the Capac told Efe that Panama has always had the "historic ability" of the Government and the private sector to "face these cycles by implementing counter-cyclical reforms that compensate them in a way that is not a pronounced fall or a very long one. "

De Ycaza opined that the private sector and the Government should work together to design and implement public policies that ensure the sustainability of the industry that can stop the uncontrolled increase in costs and encourage labor productivity.

a business leader considered the debate organized by the English Court on the present and future of construction in Panama very timely.

Victor Liñero, director General of the Business Division of the English Court, said that Panama is a country that is properly developing its infrastructures, which, he said, "will be what makes the sector with relatively large growth rates. "

In that sense, Liñero said that in terms of infrastructures" in all countries, the public sector, through its investment, is an important factor. "

" We, however, fundamentally turn to interior architecture, facilities, interior design and equipment (...) and that will be our most important facet and the goal we have established within Panama, "added Liñero.

The Business Division of El Corte Inglés is present in Panama for 5 years working in the execution of Construction, Education, Health and Tourism projects.

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