Panama redoubles efforts to get back onto the economic path of a decade ago
March 14, 2022
The economic activities that take place in the country’s interior require further development to represent more balanced incomes, in line with those in the capital city. Investing in the provinces means working toward the improved social and territorial cohesion necessary for inclusive economic growth.
In recent years Panama has taken significant steps to recover its economy, continuing along the path of economic growth and redoubling efforts to develop and promote sustainable tourism, while committing to better infrastructure development. These issues were addressed during the Annual Conference of Executives (CADE), Central Region and Panama West under the slogan "For a Sustainable Panama: Transformation of the Economic, Institutional and Social Model of the Central Region and Western Panama".
The event, which was attended by CAF Development Bank of Latin America Panama representative, Lucía Meza, provides an important forum to analyze and seek solutions to national problems in both the public and private sectors, contributing to the economic, political, social and environmental development of the country with equality and equity.
According to Lucía Meza, long-term growth requires a boost to investment not only for infrastructure, but also a greater emphasis on human capital productivity and training to improve the country's competitiveness with regard to its strategic advantages. "The Central Region has great agricultural, tourism, fishing and logistics productive potential that has remained untapped due to lack of infrastructure, connectivity and basic services, which would improve living conditions for the local population and job training for insertion into the dynamic labor market," said Meza.
For the Representative of CAF's office in Panama, the country's greatest opportunities for growth are in its provinces. "We have the opportunity to rebuild our economies in a better way, learning from the mistakes of the past, while planning more sustainable cities and territories," he said.
The president of CADE Central Region and Panama West, Ricardo González de Mena, urged the formulation of public policies aimed at population de-concentration in the Metropolitan Region, and relocation within industries, company headquarters and international organizations, thereby facilitating sustainable development in these five provinces. The president of the APEDE, Elisa Suarez de Gómez, emphasized the proactive spirit of the CADEs that allow in-depth analysis of different actions and initiatives to the benefit the country. The event was attended by the presidents of the Azuero and Panama West chapters, Ángel Pérez and Omar Sugasti.