Fitch Ratings, "Reputational risk events could put broad pressure on funding access and damage Panama's position as a regional financial center. "
From a report by Fitch Ratings:
Fitch Ratings-San Salvador/New York-15 March 2017: Reputational and conduct risk will remain key issues for Panamanian banks in 2017 owing to the interconnectedness of the regional financial system and ongoing high profile corruption cases that have affected multiple countries in Latin America, says Fitch Ratings. Reputational risk events could put broad pressure on funding access and damage Panama's position as a regional financial center.
In the next five years the government expects to attract new private investment to add to the 1300 MW of renewable energy projects in the energy matrix.
Currently, 80% of power generation plants operating in the country are privately owned, and the Ortega administration has announced that it will continue to offer attractive terms to encourage the arrival of new private investment into the energy sector.The 2017-2030 plan envisages the incorporation of 1300 MW into the energy matrix,"... '(projects) that are open to all national and foreign investors who are participating.'"
From March 28th to 30th potential international investors will learn about public and private projects in infrastructure, tourism, energy and industrial development.
From a statement issued by Proesa El Salvador:
The country will open the first International Investment Forum El Salvador 2017 and present the Country Brand for El Salvador on March 28, reported officials this morning from the Agency for Promoting Export and Investment in El Salvador (PROESA), during a press conference.
The business sector is questioning the decision made by the Constitutional Court to suspend the operation of two hydroelectric stations and is asking for decisions to be made based on legal criteria, giving priority to the national interest.
The government and the private sector are working on a plan to renew the business model for the financial center, developing specialized services for different market niches.
A working group consisting of representatives from government, regulators and the private sector are making an assessment of the financial services platform operating in the country in order to redefine their objectives using the example of best practices in similar jurisdictions which are more developed and adapted to international regulation.
The Superintendency of Banks has taken over administrative and operational control of FPB BANK, after it was linked to the corruption case in Brazil known as "Lava Jato" ('Operation Car Wash' in English).
From a statement issued by the Superintendent of Banks:
Due to liquidity problems the Stock Exchange has suspended indefinitely trading of negotiable commercial shares by the company ChequeEfectivo S.A.
From a statement issued by the Stock Exchange:
We wish to inform the public that, in response to paragraph 6302 of our Rules of Procedure, the Stock Exchange of Panama, S.A. decided to suspend, as of February 1, 2017, and indefinitely, negotiation of all Series of Negotiable Commercial securities by CHEQUEFECTIVO, S.A.
In the first auction only large investors may take part and from the second semester issues will be made for short terms and low amounts, aimed at small investors.
Using the online platform State debt securities can be bought by local investors, through brokers approved by the stock exchange.The regulations published in the official newspaper La Gaceta establish how the auctions will be conducted, and the settlement and interest payments.
The business sector is against making retroactive consultations on mining and energy projects as they are already under development and is demanding regulation of the implementation of the ILO Convention 169 in order to protect investments.
The bureaucratic procedures and permits required by the Cuban government and some restrictions on the establishment of companies could represent obstacles for foreign businessmen interested in investing on the island.
Although in Cuba there exists sectors such as telecommunications and construction, which have high growth potential due to a backlog in investment, those who are knowledgeable about the real situation in Cuban say that it will be difficult to take advantage of these opportunities, at least for now.That is the perception of the former ambassador of Costa Rica in Cuba, Rodrigo Carreras, who in an interview with the newspaper Nacion.com, detailed the conditions of the economy of the island and the difficulties that could be faced by entrepreneurs interested in doing business there.
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