Opportunities for Foreign Investment in Panama

Curundu one of the first social housing projects put in place by the current Martinelli administration is currently open for bidding in Panama´s Government Bidding portal. The portal of Panamacompra, will give citizens search information related to government procurement that is published a faster and more precise manner of accessibility through transparency.

It is a major project details of which were posted in a previous article.  Recently the Minister of Housing of Panama, indicated that international companies from France, Brazil, Colombia, Venezuela, Spain and Italy have shown interest in the project for the renovation and social transformation of Curundu.  Curundu is one of the poorest, more crime ridden neighborhoods in Panama and is scheduled for a makeover.

The upcoming week, on November 26th, representatives of the companies interested in bidding for the project will visit the area as part of the bid requirements.  The project is a major project which will include repaving streets, pluvial studies to prevent flooding, social components supported by educational components, among many other areas to be attended to.

The request for proposal was announced on October 15th, listed on Panamacompra since November 9th, the pre-award survey will be on December 10th and by the 21st of November offers were officially received.  This is a bid for the best value and the reference base line price is US75 million.  This is a reference price and variations can be made through annexes to the bid terms.

The area to be renovated is 12 hectares and will reform 160 thousand meters of land, including the existing roads, community structures, residential structures, among many other changes.  It is really an extreme makeover what is being planned for this area.  The information for this specific bid can be accessed through http://www.panamacompra.gob.pa/panamacompra/detallegeneral.aspx?ID=2009-0-14-0-08-LV-003277

For more info on Panama:  PanamaQmagazine


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