One sector that will have much attention for national and foreign investors will be the agro-sector. President Juan Carlos Varela just announced the new law that will freeze the cost of 22 basic food products in the country.
The challenge is to keep food prices low with a maximum price set for each product set within the decree.
The main objective of this strategy is to provide up to $58.00 dollars in savings for the general population who make minimum wage – (that is around $624 or $488 depending on what zone they work in). This is great news for over half the population that make around $500/month, nevertheless there are many side effects that will occur and prices of other products will be adjusted accordingly.
Panama produces approx 50% of what the population consumes in terms of basic needs for food… Now with the price control – it is plausible to note that interests in biotechnology will rise – in order to reduce cost and be more efficient, improvements in the agriculture sector of Panama will be a must. Actually, because of the new bill signed by the President it already IS a must.
Those who understand this are able to foresee that the government will form incentives for those who invest in agriculture – and biotechnology specialists will be at their service.
Aquaponics has a bright future in Panama – since it is a system designed to require less water and less space compared to traditional ways of growing food. A win-win situation – the only challenge is the initial investment of the technology. Once that is taken care of, these systems will produce more food in less time without the need of chemicals all over them!
Here is a video of President Varela announcing the price controls of 22 products in Panama
Feel FREE to contact us, if you are interested in investing towards the future of Panama… remember everyone needs food to live! With the proper technology and government support, it will not only be profitable, but also a positive impact for many people earning minimum wage and are struggling to cover the basic needs for their family.
Possible Challenges:
- Less investors in the market - since it does not look appealing when your price products are controlled by the government.
- Food scarcity of the 22 products
- Black market
- Possible fights over food in supermarkets?
- Poor quality of food?
For the investors that actually make it through --> there is a generous profit pool that can be channelled if the proper technology and delivery systems are applied. Thinking of futuristic ways?
Now - we will not only CHALLENGE you, but ENCOURAGE you - to take up the fire in your hands and lead the exciting sustainable ways of producing basic human needs. More brings more! We now have the technology - the next step is to THINK BIG.
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