{"id":18279,"date":"2026-10-24T14:00:00","date_gmt":"2026-10-24T19:00:00","guid":{"rendered":"https:\/\/expat-times.com\/panama\/?p=18279"},"modified":"2026-10-23T23:44:38","modified_gmt":"2026-10-24T04:44:38","slug":"the-government-of-panama-pledges-small-business-aid-to-drive-economic-recovery","status":"publish","type":"post","link":"https:\/\/expat-times.com\/panama\/business-economy\/the-government-of-panama-pledges-small-business-aid-to-drive-economic-recovery\/","title":{"rendered":"The Government of Panama Pledges Small Business Aid to Drive Economic Recovery"},"content":{"rendered":"\n

Panama City, October 24, 2026 – President Jos\u00e9 Ra\u00fal Mulino confirmed government support for small and medium-sized businesses<\/a> damaged by the October 9 earthquake<\/a>, a move framed as central to the country’s economic recovery Panama<\/a><\/strong> strategy. The announcement came as officials prepare field assessments<\/a> to channel relief funds directly to affected merchants.<\/p>\n\n\n\n

The Ministry of Commerce and Industries<\/a> (MICI) will dispatch personnel next week to evaluate individual business conditions. Minister Julio Molt\u00f3 said the government is consolidating damage data with Fedecamaras and tools provided by the UN through UNDP.<\/p>\n\n\n\n

\"president
resident Jos\u00e9 Ra\u00fal Mulino confirmed government support for small and medium-sized businesses<\/a> damaged by the October 9 earthquake<\/a>. President Mulino signing a new law | Credit: Presidencia.<\/figcaption><\/figure>\n\n\n\n

Economic Recovery Panama Relief Framework<\/h2>\n\n\n\n

Speaking to reporters, Mulino acknowledged that affected businesses face uneven circumstances. “Small and medium enterprises have funds that will help them rebuild the business, restructure the business,” he said [Translated from Spanish]. The president stressed that assistance would target small and medium entrepreneurs<\/a> specifically, not larger corporations.<\/p>\n\n\n\n

Molt\u00f3 detailed the coordination effort, explaining that MICI teams will visit companies in the field to analyze their situations and determine how institutional aid can be most effectively distributed. The data unification process with Fedecamaras aims to prevent duplication and ensure resources reach verified damage sites.<\/p>\n\n\n\n

\"Earthquake
Mulino said the goal is to contribute to the sector’s recovery while acknowledging that tourism continues to receive visitors despite the earthquake’s impact. Earthquake damages Building by Prensa L.<\/figcaption><\/figure>\n\n\n\n

Tourism Sector Recovery and Hotel Damage<\/h2>\n\n\n\n

The Panama Tourism Authority is holding separate meetings with hotel operators, particularly those whose properties sustained structural damage. Mulino said the goal is to contribute to the sector’s recovery while acknowledging that tourism continues to receive visitors despite the earthquake’s impact.<\/p>\n\n\n\n

The president expressed confidence that the tourism industry would recover substantially through its own activity, but reiterated that government assistance would still flow to affected small and medium business owners. This dual approach combines market-driven recovery with targeted public intervention.<\/p>\n\n\n\n

\"Panama
Some business leaders have offered to build homes for displaced families, with contributions ranging from groups of 10, 25, or 50 houses. Panama Earthquake october 9 by Morning Call.<\/figcaption><\/figure>\n\n\n\n

Housing Reconstruction and International Donations<\/h2>\n\n\n\n

Mulino highlighted Panama’s solidarity response, noting donations from companies, international cooperation, and contributions earmarked for rebuilding affected zones. Resources from large international firms are being channeled through two trusts, one at Banco Nacional de Panam\u00e1 and another at Caja de Ahorros, to finance reconstruction and other assistance.<\/p>\n\n\n\n

Some business leaders have offered to build homes for displaced families, with contributions ranging from groups of 10, 25, or 50 houses. These constructions follow standardized blueprints to maintain uniform models. “I feel the country has responded wonderfully,” Mulino said [Translated from Spanish]. Infrastructure reconstruction work is advancing, and some homes are nearing completion, according to the president.<\/p>\n\n\n\n