The Goal: To Attact $5 Billion in New Foreign Direct Investment to Panama
(Panama-Guide) By XENIA DE LEON for La Prensa - The target for this government in terms of foreign direct investment (FDI) is to attract at least one billion dollars per year, equivalent to 5 billion in five years, reported the minister of Trade and Industry, Roberto Henriquez. Although it is estimated that foreign capital flows into Latin America will shrink by some 35% this year due to the global economic crisis, the minister's goal is relatively conservative: according to the Comptroller General of the Republic, FDI in Panama totaled $2.401 million in 2008 and $1.907 million in 2007. And so far in 2009, in only the first quarter there has already been some $386.9 million in Foreign Direct Investment. In any case, to achieve its objective the government will create the single window for investment, it will make visas easier to obtain for investors, employees and directors of multinational companies, and it will try to get the most from Law Number 41 of 2007 which facilitates the operation of multinational headquarters in Panama.
