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Direct foreign investment in Panama continues to rise at a pace that would be the envy of most countries in the world.

In the first three quarters, foreign direct investment (FDI) in Panama increased 17.8 percent, compared to the same period of 2015. The total amount for the period was $4.1 billion, a significant investment in Panama’s future, according the Ministry of Economy and Finance. In the third quarter alone, investment hit $1.5 billion, a 54.3 percent increase from the same period of 2015.

The data “shows the evident and continued confidence of investors in the development of the country, stimulated by the macroeconomic policies, programs and projects carried out  by the government of the Republic of Panama,” the Ministry said in a statement.

FDI is considered a key indicator for growth and a healthy economy. In many ways, it measures international confidence in a market, a willingness for foreign interests to support the country’s industry and infrastructure.

As we reported in March, FDI has been increasing at unprecedented levels for many years in Panama, in large part due to major infrastructure projects underway throughout Panama. Projects like the Panama metro are supported by international investors and companies.

Panama’s FDI growth also reflects the number of multinational companies opening headquarters in Panama City, providing a steady stream of new renters and buyers for the real estate market.

The majority of the FDI in Panama in 2016—64.5 percent–was from foreign entities reinvesting in Panama, according to coverage in La Prensa. The reinvestment activity “demonstrates the confidence foreign investors have about the positive future prospects of our country,” the Ministry said.