BRIEFS. business

Foreign investment in Panama still very high

Foreign investors poured approximately $1,500,000 into Panama in 2007, according to estimates from the Cámara de Comercio, Industrias y Agricultura de Panamá and the consulting firm Indesa.

This figure is lower than the record high registered in 2006, when Banistmo was sold to the English firm HSBC. Foreign investments that year reached $2,560,000.

The volume of foreign investment in the country still remains very high, though, and it far exceeds the levels achieved between 2000 and 2005, according to Contraloría records.

"The arrival of new foreign investors is truly impressive," president of the Cámara de Comercio Domingo Latorraca said.

The main investors in Panama are North American, Spanish and Colombian. The main destinations for these foreign investments are the financial sector, real estate, tourism and infrastructure.