Thursday, December 1, 2022

Panama, a Country under Construction

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DIPLOMAT MAGAZINE “For diplomats, by diplomats” Reaching out the world from the European Union First diplomatic publication based in The Netherlands Founded by members of the diplomatic corps on June 19th, 2013. Diplomat Magazine is inspiring diplomats, civil servants and academics to contribute to a free flow of ideas through an extremely rich diplomatic life, full of exclusive events and cultural exchanges, as well as by exposing profound ideas and political debates in our printed and online editions.

By Dr. Jose M. Teran, Ambassador of Panama.

This is how Ricardo Martinelli, President of Panama, describes his home country.

With 3.6 million inhabitants, in a strategic point in Central America, where the north and south get together, where the waters of the Atlantic and Pacific Oceans allows the transit to world trade and where the sun shines everyday, Panama is a country under construction, with opportunities for doing business and a place that offers the best conditions for retirement.

The recent Global Competitiveness Report has ranked Panama in position 40 by 2013, improving by 13 points just in two years. So, is not a coincidence why Panama has become the most competitive economy in Central America.  According to leading rating agencies, Panama’s investment grade rating improved for the second year in a row from BBB- to BBB.

The country has a bridge for the mobilization of passengers to the entire American Continent and facilitates efficient and modern communication services.  With a service vocation and as a commerce promoter, both nationally and internationally,
Panama has gone from being just a canal to becoming a logistic platform by air, sea and land, with the growth of the Panama Canal as a main axis.  Services complementing the Panama Canal include ports on the Pacific and Atlantic sides, insurance, legal services and ship registry, connecting 144 maritime routes, the greatest global maritime connectivity.

Five submarine and transoceanic optical fiber cables crosses the Isthmus of Panama, turning into the ideal place for telecommunication companies and data centers.  The Global Technology Report of the World Economic Forum ranks Panama as the country with the second highest level of technology in Latin America.

Our prestigious International banking Center, with 93 banks offers security and reliability of the system, best practices, application of international standards, free flow of capital and over 100 years as a dollarized economy.

We invite you to help consolidate Panama as an International Financial Center by bringing your financial entities to join the world-class institutions already located in our marketplace and taking advantage of the business opportunities presented.

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