So said the Assistant British Foreign Minister for Latin America, Jeremy Browne, who believes that Panama and other countries are more open to investment
British businessmen based in Costa Rica believe the regulations they must follow to do business are more excessive and cumbersome than other countries in the region.
They added that they consider the educational level of the Costa Rican population to be high and that the legal system is strong, but what is lacking is greater openness to trade and international investors.
These views were expounded by Jeremy Browne, who visited Costa Rica and Panama as part of a tour designed to strengthen trade relations with the United Kingdom.
Of the more than $1 billion that came into Costa Rica in foreign investment, only $15 million originated in the United Kingdom.
The nacion.com article states: "I come from Panama City and Panama is very open to international investment," said Browne, who at the same time suggested that Costa Rica make itself more competitive in terms of taxes and other incentives. "
Source: Nacion.com
More on this topic
April 2009
The government and private enterprise are looking to strengthen the legal and regulatory framework to preserve and enhance the competitiveness of the country.
The Government of the Republic of Panama recognized that the country, as a center for prestigious international and financial services, needs to preserve and enhance its competitiveness and increase the attraction of foreign direct investment, so it must strengthen its legal and regulatory framework.
July 2008
Private real-estate investment in Costa Rica is likely to be affected by the lack of regulation and planning of public infrastructure.
San José's real-estate boom has led to healthy profits for the construction industry and private investors.
But the new buildings, as well as those that are still on the drawing board, could be threatened by the lack of plans for the development of public infrastructure.
March 2012
A National Directorate of Drugs has been created which will set prices using an international reference value and ensure that the cost of medicines is not above the Central American average.
Mauricio Funes, El Salvador’s president, has passed the Medicines Act, which seeks to regulate the prices charged by distributors, reported Diario de Centroamerica on their website.
August 2008
The new provisions of the Banking Law will become effective starting August 25, the Superintendency of Banks indicated.
The new provisions include increased regulations for banks with international licenses and the creation of the position of banking supervisor. Other changes are the streamlining and flexibilisation of forced bank liquidation processes and the institution of banking services mediation.
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