Protests have a negative impact on attracting investment

Current protests have a negative effect on viewership the investment grade that the country receives, as well as its international image, warned Adolfo Fábrega, president of the Economic, Industrial and Agricultural Chamber of Panama.

Fábrega pointed out that social stability is one of the primary factors considered by credit rating agencies.

“Any investor thinking about coming to Panama will look in that mirror. This affects us in terms of attracting foreign investment. It is important to reach a consensus,” Fábrega told Nex Noticias.

According to the businessman, the current tension calls into question the possibility of political and social stability in Panama.

For Fábrega, it is no longer the rejection of the new mining contract as such, but the accelerated way in which the government approved it.

“The pushback is not so much focused on mining as it was initially, but rather a set of actions towards government management,” he commented.

The Chamber of Commerce proposes an audit so that Panamanians do not feel mistrust towards the decisions made by the government.

Fábrega remembered that The mine is an important generator of employment and at the moment the country cannot face unemployment of more than 40,000 jobs.

For his part, Temístocles Rosas, president of the Panamanian Association of Business Executives, said that small businesses are the most affected by road closures.

He also expressed concern about the infiltration of opportunists who destroy private property and steal what does not belong to them.

Rosas called on the Government to ensure that the measures it is taking this afternoon in The Cabinet Council are in line with reality.

“If they are going to make decisions, we hope there will be no excesses. A curfew or suspension of constitutional guarantees at this time would be regrettable. We invite President Cortiz to express his opinion,” he said.