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Foreigners Invest More in Panama
Prensa Latina, February 21, 2007Panama got more than 2.4 billion dollars last year through foreign investment, more than twice that of 2005, Panamanian Ministry of Trade and Industry reported on Wednesday.
Julio Fabrega, director of Investment Promotion in the Ministry said the gains were made by virtue of the government plan to attract investments by focusing on tourism, transportation, logistics, agriculture and sea resources.
He considers that the expansion of the Panama Canal will allow great investments from several countries, mainly the US and Europe.
The Panamanian economy has had high economic growth in recent years, due to construction and real estate development, the Panama Canal and the banking sector.
The Ministry of Economy and Finance announced some days ago that for the first time, the non-financial public sector achieved a profit of 88 million dollars in 2006.
Nevertheless, despite the growth of the Panamanian GDP, nearly 40 percent of Panamanians live in poverty.
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