The Authority for the Attraction of Investments and Promotion of Exports of Panama (Propanama) highlighted this Friday that the country ranks eighth globally in terms of opening for businesses in a classification published by the American US News.

“The report, prepared based on parameters such as commercial opening, economic stability, regulatory environment and other critical factors, confirms Panama as an undeniable leader in the Latin American business landscape, in the category of business opening,” Propanama said in a press release.

In the opinion of the general administrator of Propanama, Carmen Gisela Vergara, “this distinction not only reflects Panama’s leadership in the region, but also positions it as the logical choice for investors and corporations seeking to do business.”

The Panamanian investment promotion office said that the US News evaluation “emphasises the strategic location of Panama, its first-class infrastructure and its pro-business approach, factors that not only attract investments, but also promote an environment conducive to business activity.”

“The strategic intersection of Panama, as a bridge between continents, combined with its robust infrastructure, not only facilitates trade, but also makes it a fertile ground for business growth and innovation,” he added.

Propanama specified that in this classification, after Panama are Costa Rica, in the twentieth place, Uruguay in 32nd place and Peru in 34th place.

Panama’s economy grew by 8.8% of gross domestic product (GDP) in the first half of this year, and was expected to do so by at least 6% in 2023, but a national crisis in rejection of the operation of a copper mine that left losses calculated at 1.7 billion dollars will make that forecast drop by at least 1%, according to analysts.