February 16, 2011
PANAMA CITY (AFP) - South Korea has expressed interest in boosting investment in Panama, especially in mining projects, following reforms in the Central American nation, the government said Tuesday.
A statement issued by President Ricardo Martinelli said South Korean President Lee Myung-Bak expressed interest in natural resources projects in a recent conversation.
The South Korean leader "told president Martinelli that (South Korea) hopes to invest in the future, in a responsible manner, and in a way that benefits the Panamanian people, in natural resources projects in Panama," the statement said.
The reforms enacted in Panama, which have drawn protests from environmentalists, labor leaders and others, make it easier for foreign companies to invest in mining.
Government critics say the law was enacted to draw interest from firms in South Korea, Canada, Singapore and elsewhere.
In the latest protests, thousands of indigenous protesters blocked a major highway to Costa Rica on Tuesday and called for talks with the government on the reforms.
An estimated 3,000 protesters blocked the road and set fire to brush alongside the highway. They claim that the reforms give away too much to foreign investors.
