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Latin America Investment News on Viva Tropical

Panama Seeking Investors Through Global Initiative

Article Summary:

Panama is seeking to be known as the ‘hub’ of services and trading activity through a new investment program called Global Custody Service. It will play an integral role in the efforts of the government to contribute to the development of the local capital market.

Photo Credit: La Estrella

Original Article Text From La Estrella via Google Translate :

Panama Seeks More Investors

Generate the highest return values ​​and attract more foreign investors participation is one of the challenges of the stock market in Panama. For this, the Global Custody service plays an integral role in the efforts of the government to contribute to the development local capital market, said Dario Espinosa, director of Public Credit Ministry of Economy and Finance (MEF).

This service provides access to investors based outside of Panama, securities activities of any asset class that is listed on the Panamanian stock market, broadening the base of participants. Citi currently manages capital from Panama, but are supported by the Regional Service Center at Citi in Tampa, Florida, to achieve consistent processing, standardize reporting, implement uniform technology and the power to reallocate resources to accommodate changes in capacity and volume, said Espinosa. Thus the communication channels are open from Panama and the United States together. This also facilitates the exchange of information with key customers custodians of investment in that country.

CREATORS OF SECURITIES addition in order to promote this tool, the MEF in conjunction with the Bank, have been several meetings where the participants were educated Programme Market Makers on the implementation, operation and the operation of the tool with the respective Bank experts both Panama and the United States. Internationally, there have been presentations on various service investment decision makers through quarterly calls made ​​by the MEF since January 2011, said the head of Public Credit. Espinosa said that soon a delegation from the MEF will be presenting to a panel of global custodians in the U.S., initiatives and commitments it has made the government to help develop the capital market of Panama and seek to attract more investors to the country. By Market Makers program, launched by the MEF in June 2011, can only access the ten brokerage houses authorized by the Director of Credit public entity of the program. However, these ten participants in turn can offer debt instruments both local and international clients.

LOCALLY To date, “the feedback we received from these participants is that a high percentage of the beneficial owners of securities acquired in the program are local clients. ” This is common when you are starting a process of development and transformation of a capital market, he said. According to Espinosa one of the main objectives of the government is relying to a lesser extent international funding sources to diversify the risk of financing of the Republic. ‘Once you make up for the demand, then international investors will help provide liquidity to the system. ” These initiatives seek to contribute to that Panama will become the ‘hub’ of services and stock markets in the region closed.

Link to Original Article:

From La Estrella

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