Corruption slows down investment transparency leader
Studies show that a one point increase in corruption levels lead to an 11 percent reduction of foreign investment says the founder of Transparency International.
Dr Peter Eigen was speaking at a Panama forum organized to commemorate 10 years of the enactment of the Transparency Law in Panama. The forum was organized by the Foundation for the Development of Citizen Freedom.
Eigen called for the strengthening strengthening of institutions and the eradication of corruption to avoid scaring off foreign investment. A country with strong institutions is able to attract up to 9 percent more foreign investment into the country, he said.
Panelists expressed their concern about the political direction of Panama.