Panama (rank 39) is at the top of the list of the countries with best access to capital, ranking in Latin American only after Chile (rank 29), according to a report from the Milken Institute published in 2010. The test of this report took into account the economic environment and other topics. Panama has been awarded the second position in the ranking of Latin American nations providing better access to capital, surpassed only by Chile, according to the index published by the Milken Institute (www.milkeninstitute.org) of the United States. The Milken Index "discusses seven essential elements that facilitate access to capital in nations:
Macroeconomic environment
Bond market development
Institutional environment
Alternative sources of capital
Financial and banking institutions
International funding
Equity market development
These privileged positions are corroborated by ECLAC in its report "Foreign direct investment in Latin America and the Caribbean - 2010" to be noted that Panama is the Latin American country with the highest representation of FDI with respect to GDP 8.8%. and has the largest inward investment in Central America through the development of major megaprojects and the policy of attracting investment. It is understandable that national and foreign investments are led by the expansion of the canal with an estimated investment of 5,250 million dollars, the construction of the railway line between Balboa and Colon, fiber optic networks, the Pan American Highway and three new central.
Transitmica highways, as well as new investments in energy, tourism, real estate construction, banking and finance.
Panama had previously been ranked amongst the world’s freest economies. Panama is a member of the World Trade Organization (WTO) and is a beneficiary of the Caribbean Basin Initiative (CBI). Panama had signed several Free Trade Agreements with the United States, Europe, Asia and Latin America countries.
Thought the years Panama has had an open door policy for foreign investment, providing important incentives to business. The list includes:
An economy based on the U.S. dollar
Low inflation
No foreign exchange risk
Absence of exchange controls
Equal treatment for foreign and local citizens
A flexible Business Law (international acknowledgement)
No restrictions on companies ownership and foreign capital
No restrictions on mergers, acquisitions or joint ventures
Credit facilities
Great Real Estate Development
Facilities for Tourism Projects
Install facilities for Manufacturing Industries
Exemption from taxes for investments in tourism, maritime, real estate, mining, Colon Free Zone, exports and other markets
Bilingual Workforce
First in the region for low cost of living, low operating cost and competitive work rates.
High-ranked Panamanian government bonds by international financial organizations
The country has received a positive rating from the Economic Commission for Latin America and the Caribbean (ECLAC), the Organization of American States (OEA) and the Interamerican Development Bank (IDB). It has full coverage of OPIC, MIGA, IDB and other multilateral entities. Panama belongs to a select group of Latin American countries with investment grade by the three major global risks qualifiers Fitch Ratings, Standard & Poor's and Moody's Investor Services. Panamá could identify clarity the benefits of obtaining an Investment Grade which positively impacts the inter bank financing cost, interest rates over loans, access to long term capital, and in the rates of return required by the investors; at the same time, in the entrance of investments and foreign capitals.
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