Businesses in Panama West are suffering losses of approximately $9 million - Expat Community

Businesses in Panama West are suffering losses of approximately $9 million

Oct 27, 2023 | News & Articles, Panama | 0 comments

Businesses in Panama West are suffering losses of approximately $9 million due to road closures and street protests. Microbusinesses are the most affected, with an estimated 65% of local businesses facing economic challenges. Omar Sugasti, a member of the Panamanian Association of Business Executives (APEDE) in Panama West, has calculated the losses at $9 million.

 

The Chamber of Commerce, Industries, and Agriculture of Panama West has called for reason and peaceful protests while condemning extreme acts of vandalism, looting, and road closures that endanger local and national peace and the economy. Ameth Olmios, the chamber’s president, believes that the protests and road closures have negatively impacted around 65% of local businesses, particularly microenterprises.

 

Microbusiness owner Patsy Lee expressed concern about the unstable business environment, with ongoing protests causing economic slowdown and significant revenue losses. Microbusiness owners are worried that the government is not providing a stable environment, and they are calling on the government to listen to the people’s concerns without jeopardizing the country’s economy.

 

Additionally, shortages of agricultural products in the two main markets in La Chorrera have become evident, along with rising prices for vegetables and legumes. The closure of roads is disrupting the transportation of goods to these markets, exacerbating the situation.

 

PanamaAmerica – https://www.panamaamerica.com.pa/provincias/comercios-de-panama-oeste-registran-perdidas-por-9-millones-1228232

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