According to the report Doing Business, which was done by the World Bank, in 2014 Panama will be among 50 countries with the most favorable conditions for doing business. There were more than 189 economies in the research and this year Panama improved its position being the 55th (last year 61st position). The rating leader in Singapore then follows Hong Kong, New Zealand and the U.S. Among 10 aspects evaluated by World Bank, Panama has an improvement in six of them.
Among the factors the improved factors there is simplified process of property and company registration, investment security, where Panama has always made special efforts. Among weak factors are obtaining credit funds and tax system. Traditionally Panama takes very high evaluations of its cross-border trade.
During 2012 there were more than 34,000 companies registered in Panama, which is a great result comparing to 63,000 in Colombia, considering its much bigger population.
Former President of the Panamanian Association of Business Leaders (APEDA), Roberto Troncoso, agreed with World Bank estimation. Nevertheless, he strongly believes that Panama has a lot of room to grow, especially in the field of juridical system, to ensure reliable and stable business environment. He added that the new strategy should be designed in order to support future business growth.
