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Home Panama First Impressions Reuters reports on Panama business

Reuters reports on Panama business

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 Panama as a business capital continues to get positive press


(Reuters) - A generation after Panama shed a tradition of military rule, canny fiscal management and good stewardship of its emblematic canal have made the tiny country a model of success for today’s frontier markets.


An investor darling that has grown rapidly over the last decade and even managed to dodge recession during the recent global downturn, Panama’s government debt has received a coveted investment grade rating by Fitch and S&P.

 

 


Panama will not realize its ambition of joining the world’s most developed nations until it cleans up its murky banking system and narrows a wealth gap that leaves a third of its people in poverty, but economists say it is well-positioned for steady growth.


“What’s striking is that this is such a broad-based economy,” said Boris Segura, an economist with the Royal Bank of Scotland. “Yes, they have the canal but there is also tourism, construction and a growing financial services sector.”


With a population of just 3.4 million, Panama will never be a China or a Japan but local leaders say it can aspire to become like Singapore, an affluent and diverse crossroads for international finance and trade.


“Nobody is going to come to Panama to sell to the domestic market. We tell investors ‘Come to Panama and sell to the world’”, Trade Minister Roberto Henriquez told Reuters. He sees the small isthmus nation’s future as a boutique exporter of high-margin goods and services.


See the whole article here:

http://bit.ly/b5k6zp
 

Last Updated on Sunday, 11 July 2010 15:44  

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