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Panama lures Colombia and Venezuela investment

Tuesday, December 3, 2013

Panama has received investments from Venezuela and Colombia worth $4 billion in the last four years, according to official data.

The two South American nations have become Panama's second largest foreign investors, after the United States, which reported $5.8 billion in the four-year period.

Venezuelan businesses prefer to invest in Panama due to strict currency controls, unfavourable business climate and soaring inflation in Venezuela.

Source (in Spanish): La Estrella