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Tuesday, April 23 2019 @ 10:15 PM UTC

Government Creates New Office to Facilitate Foreign Direct Investment

Foreign Direct InvestmentLa Prensa - PANAMA CITY (Xinhua) The Ministry of Trade and Industry of Panama announced today the opening next year of a new office for investors, to attract foreign capital coming into the country. According to the MICI, this new initiative looks to centralize information, allow foreign investors to make the most efficient use of their time while here in Panama, and in increase the amount of foreign direct investment coming into the country. The Vice Minister of Foreign Trade of Panama, José Domingo Arias, said the new investment office is part of the responsibilities borne by the National Direction for the Promotion of Investment of the Ministry of Commerce. He praised the government's interest in attracting capital to areas like the Panama Pacific Special Economic Area, located to the West of Panama City in what was the old Howard Air Force Base. Arias stressed that one objective of the Panamanian government is to prove Panama's potential as the best place to invest. The Martinelli administration has announced a target of $1 billion dollars per year in foreign direct investment. (Editor's Comment: Good, excellent, wonderful. Hopefully, every action taken by the Martinelli administration will be run through a filter of "how will this new law impact Foreign Direct Investment" or "how will this action be viewed by international businessmen." FDI is absolutely wonderful for growing and expanding an economy, and in a country as small as Panama it really doesn't take all that much - compared to the really big numbers thrown around in some countries like China or the US - to have a tremendous impact. In short, it's all good...)
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