Cortizo emphasizes the role of the private sector in economic recovery

President of the Republic, Laurentino Cortizoparticipated in the ceremonial opening of the fortieth version of the International Economic Fair (Expocomer 2024), where he emphasized that the private sector is an important factor for the country’s exit from the pandemic and economic recovery.

Cortizo cited the social advances and investments achieved by his administration, despite 4.477 million dollars which the central government stopped receiving in the first two years of the pandemic.

“For you, the managers and members of the Chamber of Commerce of Panama, I ask for a big round of applause,” exclaimed President Cortizo, after thanking the women and men of companies in Panama for their solidarity and support during the pandemic, contributing to the country moving forward and being recognized by the World Health organization (WHO) recognized as one of the best in the region in crisis management.

He also pointed out that in the process of economic recovery, the business sector was an important factor for Panama to be the country in the region with the highest economic growth in 2021, 2022 and 2023.

Regarding the economy, the president stated that Panama has an inflation rate of 1.4%, the lowest in Latin America and the Caribbean, and one of the lowest in the world.

He also noted that his administration has made an investment that exceeds $20,501 million, carrying out 1,386 major infrastructure works between completed projects, works saved from previous governments and ongoing works that helped reactivate the country’s economy.

He emphasized that according to the result of the multidimensional measurement of poverty in Panama, the country’s index was reduced from 19.0% in 2018 to 14.8% in 2022, and he also mentioned that the execution of the budget in the four years of his government reached 95.1%.

He reminded that these results achieved by his administration in economic and social matters were possible despite the fact that during the first two years of the pandemic, 2020 and 2021, the central government stopped receiving 4.477 million dollars, which is why it was forced to prioritize investments .

In his speech, the president, Hon Chamber of Commerce, Industry and Agriculture of Panama (CCIAP), Adolfo Fabrega recognized the trajectory of Expocomer as an event that positioned Panama as a must-do annual meeting in the region for business.

During the event, posthumous and current recognitions were awarded to the presidents of CCIAP and the presidents of the organizing committees of the 39 Expocomers that have been successfully held in the country so far.

The main speaker of Expocomer 2024 was Andrés López Valderrama, President of COFERIAS, who pointed out that Panama is undoubtedly an ideal place for fairs and events in the region. He said that Panama has all the conditions to become the center of the organization of fairs and congress events in the region.

for his part, José Ramón Icaza, president of the organizing committee of Expocomer He thanked the 30 countries that permanently trusted Panama by participating in the fair and presented the details and novelties of the 40th edition of Expocomer.

He indicated that there will be 800 exhibition modules from 30 countries on the 16,000 square meters of the commercial fair and pointed out that Panama Logistics Expo, International Tourism Expo and Franchising Expo will be held in parallel with Expocomer in the Panama Convention Center.