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Foreigners Invest More in Panama
Panama got more than 2.4 billion
dollars last year through
foreign investment, more than
twice that of 2005, Panamanian
Ministry of Trade and Industry
reported on Wednesday.
Julio Fabrega, director of
Investment Promotion in the
Ministry said the gains were
made by virtue of the government
plan to attract investments by
focusing on tourism,
transportation, logistics,
agriculture and sea resources.
He considers that the expansion
of the Panama Canal will allow
great investments from several
countries, mainly the US and
Europe.
The Panamanian economy has had
high economic growth in recent
years, due to construction and
real estate development, the
Panama Canal and the banking
sector.
The Ministry of Economy and
Finance announced some days ago
that for the first time, the
non-financial public sector
achieved a profit of 88 million
dollars in 2006.
Nevertheless, despite the growth
of the Panamanian GDP, nearly 40
percent of Panamanians live in
poverty.
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