Julio Moltó's Mission To Restore Panama As The Largest Economy In Latin America
Date
12/30/2024 11:10:13 PM
(MENAFN- Newsroom Panama)
Julio Moltó , Minister of Commerce and industry of Panama, shared his vision on the economic future of the country and the achievements made during his administration in 2024.
“Part of our mission is to give Panama back the pride of being the largest Economy in Latin America, the star of the region,” Moltó said, highlighting efforts to strengthen Panama's economic profile.
One of the most important achievements during the administration has been the incorporation of Panama as an Associate State to Mercosur, becoming the first country outside the Southern Cone to achieve this.“In less than five months, we did all the necessary work, placing Panama in the big leagues and opening doors to negotiate with large countries,” explained the Minister.
The administration has managed to attract 19 new companies to the Colon Free Trade Zone, with an investment of more than $24 million.
“This shows that we are working hard to attract investment and generate employment, which allows us to fulfill our promise of improving the quality of life of Panamanians,” said Moltó.
The Minister highlighted Panama 's security as a key factor in attracting international investors.“Panama is a very safe country, and that is one of the priorities that investors consider.
We have solid regimes for establishing international companies, in addition to a stable economy, a robust financial center, the Panama Canal and the air hub, all of which make Panama an attractive destination for investment,” Moltó said.
Moltó announced that Panama will begin a process of negotiations with Mercosur countries in a gradual manner.“We are going to protect our agricultural and industrial sector, we will help export, but it has also been said that Mercosur sees Panama as a platform to expand into the world, a distribution and transformation center to reach markets such as the United States and Asia,” he said.
On the subject of international arbitration, the Minister was emphatic:“President Mulino has been clear, we will not negotiate under pressure. Panama will defend its interests firmly and appropriately.” He also referred to an ongoing audit of copper mined in Panama, assuring that the country has the right to a share of that material.
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