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Red tape slows down Panama's construction sector

Monday, November 10, 2014

Panama's construction sector will fail to meet its goal of 14 percent growth this year, according to the country's construction chamber.

From January to October this year, there was a 30 percent drop in new permits due to red tape , said the chamber's president Roderick McGowen.

Last year, the private sector invested $1.2 billion in construction projects, and this year the goal was to reach 14 percent growth, however, the figure was cut to between 10 and 12 percent.

Source (in Spanish): La Estrella