|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Central America

Panamanian and Spanish Business Leaders Agree to Explore New Opportunities

PANAMA CITY – The Panamanian Chamber of Commerce, Industry and Agriculture (CCIAP) and the Spanish Federation of Business Organizations (CEOE) signed an agreement Wednesday that opens the way for the groups to explore new business opportunities in such areas as construction, tourism and renewable energy.

“Spanish businesses already have important investments” in Panama “of nearly $2 billion, but we think there’s more work to do, and the agreement we signed will allow us to achieve these goals and get much more investment,” CCIAP president Inocencio Galindo said in a press conference.

Joaquin Gay de Montella, the CEOE vice president who led the delegation, said Panama was “a very powerful country that has possibly turned into the world’s most important logistics node,” thanks to the Panama Canal, whose expansion was mostly completed by an international consortium led by Spain’s Sacyr.

Panama offers potential investors three “very attractive” factors: political stability, economic dynamism and an “excellent” business climate, Gay de Montella said.

Nearly 300 Spanish companies currently operate in Panama, Gay de Montella said, adding that this number “is good but should be much higher.”

Spanish companies have operated in the Central American country for decades, focusing mainly on construction, according to Gay de Montella, who said there was interest in bolstering the presence in areas in which Spain “is very strong,” such as renewable energy, engineering, tourism, water treatment and wastewater processing.

Panama’s economic growth has slowed, but it is still one of the engines of the regional economy.

In 2016, Panama’s gross domestic product (GDP) grew 4.9 percent, a drop from the 5.8 percent growth registered the previous year.

Panama is the destination for nearly 50 percent of the foreign direct investment (FDI) in Central America.

Last year, Panama received more than $5.2 billion in FDI, a figure that was up 15.9 percent from 2015, the government said.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved