Friday, June 2, 2023

Panama, the future “hub” of sustainable investments in Latin America and the Caribbean

Panama seeks to establish itself as a future “hub” or center for sustainable investments in Latin America thanks to its “international vocation”, which can turn that country into the “great global protagonist” of this “new economy” committed to the environment and society, experts from the sector defended this Wednesday.

“Today we need protagonists for the new economy and (I am sure) with Panama, due to its global, international and innovative vocation, the world can see, learn and multiply the practices from Panama to the world,” the global manager told EFE. of public policies of B Lab, the Brazilian Marcel Fukuyama.

Fukuyama participated in the panel “Panama as a Sustainable Investment Hub” of the “I Forum of Sustainable Investments”, organized by the Authority for the Attraction of Investments and Promotion of Exports of Panama (Propanamá) that is being held this week in the Panamanian capital.

A “friendly” environment

The expert considers that Panama “is in a very favorable position from a geographical point of view but also from a political, economic and financial point of view” due to its stable economy, tax benefits and for being an important connection center with the continent thanks to the Panama Canal and the Tocumen International Airport, the main one in the country.

“It is not only sea and land, but also a financial hub and it can be an innovation economic hub,” Fukuyama added.

In Panama you can have “tools to promote the new economy” and from that country, with some 4 million inhabitants, also promote “this hub influencing Central America and later Latin America,” as he explained.

“(The country) is very open to connecting actors from the public administration, the market and civil society, in an environment of responsible sustainable investments and triple positive impact associated with the economy,” Fukuyama declared.

For her part, the co-founder of Yahoo Europe and CEO of FanFactory, Dana Al Salem, also participated in the forum, speaking on the panel “Digital innovation, the future of investment”.

“I think that when we talk about digital transformation in sustainability, the first question is what do you have in your country that you can optimize, what can you use in terms of digital transformation and each country has a difference,” Al Salem told EFE.

And he stressed that “Panama is very lucky because it is between two oceans; you have water, you have sun and you have wind. So, for example, talking about digital transformation and energy, you have access to so many different components.”

Attract migration for sustainable investments

The Panamanian authorities are working to create a sustainable investment hub for Latin America and the Caribbean through companies and investors with a business model that has a positive impact on the environment and society.

Also taking advantage of its strategic geographical position, tax laws, the installation of other “hubs” and for being one of the three countries in the world considered “carbon negative”.

Important regional businessmen spoke at the panel “Investment Migration Programs”, attended by the CEO of the Investment Migration Council, Bruno L’ecuye, who encouraged Panama to promote strategies to attract sustainable investors.

“A survey carried out by the Boston Consulting Group estimates that there will be around 300 million migrants by 2030. So, (there will be) many migrants, a lot of supply, but also a growing amount of demand,” L’ecuye told EFE.

“(Panama) will have to be very smart as a country if it wants to attract part of these immigrants to settle,” he added.

The “I Sustainable Investment Forum” of Panama, organized by Propanamá and held within the framework of the international trade exhibition Expocomer, seeks to attract sustainable investments.

The event has the participation of top international and national businessmen to discuss which sectors and how they can invest sustainably.


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