Panama Seeks to Increase Foreign Investment

The government and private enterprise are looking to strengthen the legal and regulatory framework to preserve and enhance the competitiveness of the country.

Wednesday, April 8, 2009

The Government of the Republic of Panama recognized that the country, as a center for prestigious international and financial services, needs to preserve and enhance its competitiveness and increase the attraction of foreign direct investment, so it must strengthen its legal and regulatory framework.

In this sense, it has considered it in the national interest to designate a multidisciplinary work-team comprised of representatives from the public and private sectors to analyze and propose concrete actions with respect to measures which the government regards as necessary to implement in order to:

- Keep the country from being misused for illegal activities of any nature.

- Increase levels of accountability and transparency regarding the ownership of corporations.

The Government believes that since these issues are of national interest they require support from all sectors within the national framework.

More on this topic

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The bill submitted by the Executive aims to increase legal certainty and transparency of processes through improved tender mechanisms.

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El Salvador: Investment Security Act

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The Law on Legal Stability for Investments has been approved, which aims to improve confidence in the country preventing changes to incentive schemes granted to foreign companies.

From a statement issued by the Legislative Assembly of El Salvador:

Legislative Plenary approves Legal Stability Law for Investment

Costa Rica Enacts Law on International Arbitration

May 2011

The law enhances competitiveness and promotes a business climate in the country, says the government.

In order to strengthen legal certainty in the country and provide greater choices for enterprises to resolve trade disputes, the Government has approved the Law on International Arbitration, which shall take effect upon publication in the official newspaper La Gaceta.

Panama As Seen by the IMF in March 2015

March 2015

The organization is urging the Panamanian government to accelerate the measures needed to get off the gray list in order to avoid counterproductive medium-term effects on the economy.

From a press release by the International Monetary Fund (IMF):

An International Monetary Fund (IMF) mission, headed by Luca Antonio Ricci, visited Panama City during March 3-13 to conduct the country’s annual Article IV consultation, part of the IMF’s regular surveillance of all member countries. At the end of the discussions, Mr. Ricci issued the following statement:

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