In the last two years, foreign direct investment (IED in Spanish) in Panama has been growing at a rate of more than 15%, thus accounting for 46% of Central America’s foreign investment, the Minister of Commerce and Industry announced, Augusto Arosemena, during the presentation of the 2014-2018 management report.
In real figures, explained the head of the MICI, in 2017 IED contributed to the country $ 5.3 billion to the country’s economy, which represents 10% of the Gross Domestic Product (GDP).
During his accountability, on Monday, Arosemena said the government will continue executing strategies to attract more investments and improve access to markets so that the Panamanian economy continues to lead economic growth in the Americas.
Panama obtains positive outlook from S&P rating agency
The rating agency Standard & Poor’s (S & P) improved Panama’s outlook from stable to positive by reaffirming its BBB risk rating based on factors such as ‘high and consistent economic growth and a stable fiscal policy’.
According to S & P, Panama’s rating reflects the record growth of the gross domestic product, the effective formulation of sovereign policies, its cautious fiscal and debt management, as well as the Government’s actions to improve transparency and supervision in the financial system.
The report of the agency recognizes the efforts of the administration of President Juan Carlos Varela to encourage private investment to stimulate economic activity linked to the Panama Canal and its related activities, promote economic development on the Caribbean coast of the country and respond to external pressures to strengthen the supervision of the financial system through the adoption of laws.