Microserfin in Panama’s National Entrepreneurship Pact

2 November 2016

Microserfin is part of Panama’s Strategic Panel for Entrepreneurship, which brings together leading institutions in the public, private and academic sectors to promote the conditions that stimulate entrepreneurship in the country.

The Strategic Panel for Entrepreneurship is coordinated by the Authority for Micro, Small and Medium-sized Enterprises (AMPYME), which answers to the Panamanian government and develops programs for entrepreneurs and the managers of these types of businesses.

“The implementation of this national pact designed to benefit Panamanian entrepreneurs reinforces the company’s commitment to improving the quality of life of low-income entrepreneurs and their families, by applying sustainable relational banking to offer these micro-entrepreneurs advice and promote their development opportunities –which is an essential aspect of Microserfin’s social impact activity”, said Luis Germán Linares, general manager of Microserfin.

He also highlighted how important it was for all the participants on the Strategic Panel to see this pact from a business point of view, where all the stakeholders can obtain a benefit from their sphere of management. In other words, a social, educational and –why not?– economic benefit, to ensure the participants continued interest in the program and guarantee its sustainability over time. The program’s success will be directly linked to the support received by the entrepreneurs, and enable the development opportunities generated to translate into benefits for the Panamanian community.

The National Pact for Entrepreneurship, aimed at boosting the country’s economic development and ensuring it grows more fairly and reduces poverty, will be signed on 17 November this year. Entrepreneurs play a key role in the global economy. It is essential in Latin America to promote the entrepreneurial culture as a mechanism for development.

“Entrepreneurship is on the rise, and this is one of our challenges, as well as a way of reinvigorating our economies in a climate of social equality. We are working hard to put this issue on the country’s agenda”, said María Celia Dopeso López, the minister for Micro, Small and Medium Enterprises.

According to data from the Global Entrepreneurship Monitor, the number of Panamanian entrepreneurs has declined in recent years. Panama occupies 11th place in the Latin American ranking of systemic conditions for dynamic entrepreneurship and 49th place worldwide out of 56 countries. This reveals an average interest in comparison with the rest of the region in terms of entrepreneurship.

The Strategic Panel for Entrepreneurship recognized education, youth and entrepreneurship as being the great challenges and opportunities for the future of the Latin-American region, in line with the goals of the Ibero-American summit.