PANAMA - Economy
Chairman, Copa Holdings
Stanley Motta is Chairman of the board of Copa Holdings (NYSE CPA), ASSA Group, Motta Internacional, and Inversiones Bahia, Ltd. He is also Director of Banco General, TVN Media, and several other companies. He is also a founder and trustee of the Central America Leadership Initiative and a member of the Advisory Board of EGADE Business School in Monterrey, Mexico, and the IESE Business School in Barcelona. Additionally, he is a board member of the Trust for the Americas associated with the Organization of American States and was honored with the Americas Society Gold Medal in 2010.
Panama is a fortunate country compared to the region, and the growth of the private sector contributes to strengthening the economy. When one examines the financial sector, Panama has a strong position because it is a dollar-based economy. Additionally, the country has a small population, which, in my opinion, facilitates inward and outward business interactions. In addition, another advantage that Panama has, when it comes to foreign investment, is that it has been a country for transit for 500 years, which has attracted both investments and human capital to be part of its development.
There are two key lessons I have learned. First, you must be willing to delegate responsibility. Second, you must be willing to take measured risk. Everyone knows about successes, but few people know about the failures. Believe me, both are a part of life.
The secret is to find good people. I define that as people who are ethical, have a passion for what they do, and can communicate the purpose and strategy of the company.
Panama has outstanding infrastructure for the development of the telecommunications sector. The development of the information storage sites and fiber optic infrastructure are strong. In fact, events like Cybertech Panama 2019 are facilitating the exchange of ideas and initiatives that invite entrepreneurs to increase direct investment. In addition, these projects are bringing new talent to Panama. They, in turn, then interact with Panamanian talent.
As president of Sumarse, I would say the most important companies in Panama now have corporate social responsibility agendas. As I get older, I am also spending more time on non-profit activities, and I have always told people that if I regret anything it is not having done more with non-profits earlier in life. In this way, I strongly suggest everyone to get involved in at least one social nonprofit activity. It will make you a better person, and therefore a better business executive.
The goal is to keep growing responsibly. That has been the company’s goal for many years.
PANAMA - Economy
Country Managing Partner, Tax | Law Leader - Panama & Market Segment Leader Mexico – Central America, EY
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