The Panamanian Investment Attraction and Export Promotion Authority (Propanama) highlighted on Friday that the country ranks eighth in the world in terms of openness to business in a classification published by the American newspaper US News.
“The report, prepared based on criteria such as trade openness, economic stability, regulatory environment and other critical factors, confirms that Panama is an undeniable leader in the Latin American business scene, in the business opening category,” Propanama said in a note. From the press.
In the opinion of Propanama's General Manager, Carmen Gisela Vergara, “This distinction not only reflects Panama's leadership in the region, but also positions it as a logical choice for investors and companies seeking to do business.”
The U.S. News assessment “highlights Panama’s strategic location, world-class infrastructure and pro-business approach, factors that not only attract investment but also foster an enabling environment” for business activity, the Panamanian Investment Promotion Office said.
“Panama’s strategic intersection, as a bridge between continents, coupled with its strong infrastructure, not only facilitates trade, but also becomes a fertile ground for business growth and innovation,” he added.
Propanama explained that in this classification, Costa Rica comes after Panama in twentieth place, Uruguay in 32nd place, and Peru in 34th place.
Panama's economy grew by 8.8% of GDP in the first half of this year, and was expected to do so by at least 6% in 2023, but a national crisis in the refusal to operate a copper mine left and losses estimated at $1.7 billion will lower those expectations. At least 1%, according to analysts. Evie
