The Chamber of Commerce is concerned about foreign investments

The Chamber of Commerce expressed concern that Foreign Direct Investment (FDI) is in numbers that lag behind those shown before the pandemic.

The vision of the business union is that it is necessary to attract more foreign direct investment in order to influence the national economy, because although Gross Domestic Product (GDP) improves, there is still distrust among the population about its immediate future.

“In the last two years (FDI) did not exceed 2 billion dollarswhen before the peak of the pandemic it recorded figures above 4 billion dollars and the fact that our country would really feel the effects of this investment, it should reach 5 billion dollars a year,” the Chamber of Commerce stated in the weekly message of its president Marcela Galindo.

He adds that Panama must apply measures and send messages immediately prevent foreign investments from choosing to go to other countries and create confidence for these investors to bet on the land, while building the necessary confidence for others to join them.

The main business union in the country is concerned that by entering the election campaign, contrary to tradition, there is still a lot of mistrust and pessimism among the population due to the fear of losing a source of income, as well as the possibility of access to another that improves their living conditions.

It shows the latest bimonthly confidence index survey of the Panamanian consumer.

“The presented survey shows the need to create greater attraction of foreign direct investment in the countrywhich generates formal jobs with an economic multiplier effect that raises the quality for citizens, so that they have the possibility of saving”, HGK points out.

Businessmen did not ignore other situations that also concern them, such as the debt that the Government maintains towards the sector, which at the end of 2022. exceeded 1.4 billion dollarsmainly in health, public works and education.

In this sense, they believe that a aggressive innovation plan in all state institutions facilitate every investment step in our country in terms of education, infrastructure, public services, among others, eliminating bureaucracy and inefficiency.

“A long-term state vision is needed which goes beyond the electoral interests of the governments in powerwhich defines a clear roadmap for the state on the global definition of the sectors in which we want to present ourselves as a profitable investment option”, according to the Chamber of Commerce.