Editorial Radio Panama. The President of the Republic, Laurentino Cortizo Cohen, met with a group of investors from Abu Dhabi, United Arab Emirates, to show all the benefits that Panama offers as a business “hub” in Latin America, and the opportunities that the country offers in infrastructure and energy, being the perfect place for future businesses, with the purpose of promoting economic recovery.
The meeting was held at the Presidential Palace, where the ruler Cortizo Cohen explained to the Arab businessmen that Panama is a country that facilitates good investments thanks to better maritime connectivity and a solid banking and financial system.
The Chief Executive stressed that Panama is one of the leading countries in Covid-19 vaccination, with the best projections in the region in terms of economic recovery, having registered 15.3% growth in 2021.
“We look forward to working together as the start of a strategic alliance between Panama and the United Arab Emirates. After the pandemic, Panama’s vaccination strategy has been recognized worldwide, being an important asset in helping our country reach the leading position of the fastest growing economy in the region, ”he noted.
Cortizo Cohen indicated that Panama, with an estimated population of 4.4 million people, is one of the three carbon negative countries worldwide, which makes it the center of sustainable investments.
“The Government has always been very involved in working together, as a team with the private sector to facilitate any investment that can translate into opportunity, a better quality of life for our people and strengthen our economy,” said the president.
Carmen Gisela Vergara, director of the Authority for the Attraction of Investments and the Promotion of Exports (ProPanamá), presented to the Arab businessmen the facilities offered by the country as a digital and business “hub” of the Americas, and which recently hosted from the Bloomberg New Economy Gateway Forum.
Vergara highlighted that as a center of sustainable investments, Panama has assets of B/.136.7 billion (September 2022), with B/.3,600 million in exports and B/.11,600 million in imports until 2021. In addition, there were B/ .1,800 million in foreign direct investment in the year 2021.
Panama has one of the best connections in the world: air, sea and telecommunications, something that, Vergara highlighted, offers the widest commercial network in the region, generating the trust of multinationals from all over the world.
The director of ProPanamá stated that the country is a strategic destination for business development due to its proximity to the United States market, “we have better control of processes, reduction of transportation costs, robust configuration of the supply chain and less susceptible to interruptions.
President Cortizo Cohen was accompanied by the Minister of Public Works, Rafael Sabonge; the Minister Counselor for Facilitation of Private Investment, José Alejandro Rojas; the Vice Minister of Finance, Jorge Almengor; the Vice Minister of Commerce, Juan Carlos Sosa; the general manager of Tocumen SA, Raffoul Arab; the National Secretary of Energy, Jorge Rivera Staff; the director of the Social Security Fund (CSS), Enrique Lau Cortés; and the lawyers Ebrahim Asvat and Eloy Alfaro Boyd.
Meanwhile, Jaime Gilinski Bacal, Gabriel Gilinski, Dorita Gilinski, Henry Kardonski, Peter Burgess, Syed Basar Shueb, Dr. Mhd Somar Ajalyaqin, Mohamed Hassan Alsuwaidi, Khadem AlRemeithi, Salem Khamis AlDarmaki, and Hamad Al participated in the group of Arab businessmen. Ameri.
