Martinelli Lays Out a New Way for Panama

The difficult job of overcoming the economic crisis will have a very eclectic guide who will combine big state projects with the drive of private enterprises.

Thursday, July 2, 2009

The economic maneuvering announced in new Ricardo Martinelli’s inaugural address, will have four main axes: The construction of the Metro and the completion of big public works projects that are already underway, along with the maintenance of the momentum of the construction industry after completing the expansion of the Canal. A social policy that includes the use of subsidies for the construction of housing projects. A Ministry has been created for the promotion of small and medium sized businesses. Finally, opening the Panamanian economy to more international trade through more free trade agreements.

The article by Angel López Guía in closes with a phrase where Martinelli intended to continue his plan for the government: “We will make Panama the best place in Latin America to do business.”

More on this topic

Panama: 21,000 New Jobs for 2014

July 2010

A study by the Labor Ministry concluded that the economy will generate 21,000 new jobs in the next four years.

The two main areas will be the Panama Canal Expansion and the Howard special economic area (Panama Pacifico).

"Last week, President Ricardo Martinelli stated that Howard would generate 25,000 jobs", noted

Panama: Social Housing Program

September 2009

A solidarity housing fund was announced by the President, when inaugurating trade show "Capac Expo Hábitat 2009".

Ricardo Martinelli announced the creation of the “Fondo Solidario de Vivienda”, which would benefit 1.500 families in its first phase.

The president also remarked that his government will continue supporting the Panamanian Chamber of Construction, and invited its members to take part of his social housing project.

Martinelli's Aggressive Economic Plan

July 2009

The State will invest $12 billion during the five years of the Martinelli administration, 7% of the expected GDP.

In US Dollars, the projected public investment will triple the amount of the previous government, which invested 4.5% of the gross domestic product.

Martinelli aims for the state to replace the private sector as the economic engine of the country through investment in infrastructure, at times when the crisis has lowered employment and foreign direct investment.

Panama Will Be the Best Place for Business

July 2009

Upon assuming the Presidency of Panama, Ricardo Martinelli assured that this will be the best way to create jobs and prosperity for all.

In his inaugural address, the new leader emphasized that he will push a liberal economic model, going against the “ideological pendulum in Latin America.”

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