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Latin America Investment News on Viva Tropical

Panama Hunts for Dollars in Ecuador

Article Summary:

Panama is seeking Ecuadorian investors at the opening of Expo Panama 2012, where companies in real estate, tourism, and exports exhibit their products and services to Ecuadorian clients. Last May Panama applied the Law of Retaliation against Ecuador as a defensive measure, because in 2008 Ecuador placed Panama on the list of tax havens, which resulted in the prohibition of companies bidding for public works between the two nations. In an effort to ramp up trade with Ecuador, Panama initiated the expo as a means to stress the Law of Retaliation does not apply to many business opportunities, including tourism.

Photo Credit: El Comercio

Original Article Text From El Comercio via Google Translate :

Promotes fair business in Panama
Fourteen companies from Panama provide investment alternatives morning Ecuadorian firms. Companies related to real estate, tourism and trade exhibit their products and services during the Expo Panama 2012, to be held in Guayaquil’s Consular Corps. Admission is free and open to the public from 16:00.

his is the first time you will develop an event of this type. According to Jacqueline Vergara, Consul General of Panama, Ecuador goal is to see them as a place of business opportunity. He stressed that there is no impediment to invest privately.

“The restrictions are for (Ecuador) who want to do business with the Panamanian government. Or vice versa, “he said. Last May, Panama, Ecuador applied to the Law of Retaliation, as a defensive measure, because the 2008 Ecuador placed Panama in the list of tax havens. Income tax information requested two taxpayers in this country and the information was denied. So is prohibited companies bidding for public works between the two nations.

But Vergara believes that the impact will be minimal, for though his country has invested heavily in public works, almost everything has already been tendered. He noted that Panama has fiscal transparency.

Thus, the fair will include representatives of the law firm Morgan & Morgan, to dispel doubts about investing in your country. The tour operator Dream & Travel also have a space in the event, which runs through Thursday.

Fabio Child, chief executive of the company, explained that since Panama revoked the visa to Ecuador last year, its operations grew 33% to that destination. “It’s a place where not only can do business, but tourism. The government gives each visitor an insurance against claims for a month. No country does, “he said. The fair will be promoted discount packages.

Link to Original Article:

From El Comercio

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