The government privatized its two remaining ports along the Panama Canal in 1997 and approved the sale of the railroad in early 1998. It also plans to sell other assets, including the electric company. A banking reform law was approved by the legislature in early 1998 and will take effect in June. The most important sectors driving growth have been the Panama Canal and the shipping and port activities. The Colon Free Zone also rebounded from a slow year in 1996.
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