Study Finds Corruption Dissuades New Business
La Prensa
Corruption is the most largest obstacle facing new business in Panama, according to the Global Competitiveness Index of the World Economic Forum.
Director of the National Competitiveness Center Nicolás Ardito Barletta said the effort to reduce or eliminate corruption must be the country's priority.
Moreover, in issues such as "independence of the judiciary branch" and "reliability of police services," Panama found itself on the lowest rung of the index, which evaluates 133 countries worldwide.
Inefficient government bureaucracy, restrictive labor laws, inadequate education of the workforce and criminality are, according to the report, some other major roadblocks to doing business in the country.
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