Multinationals have invested US $ 800 million in Panama Over 120 multinational companies

marzo 9, 2016 3:07 pm Publicado por 688 Comentarios

Established in Panama have invested about 800 million dollars and generated nearly 5,000 jobs in the past eight years, said Wednesday Minister of Trade and Industry, Augusto Arosemena.

“Today there are more than 120 multinational companies in Panama with an investment of more than $ 800 million in just eight years,” the official told reporters.

These multinationals have created about 5,000 jobs, especially in executive and technical positions, the minister added.

This has also contributed a law passed in 2007 that created a special regime for the establishment and operation of these regional multinationals, which are given different fiscal and migratory advantages.

With a canal by passing 5% of global maritime trade, along with a dollarized economy, free zones, ports and logistics system and a robust banking, Panama has achieved a higher economic growth to 6% in recent years, one of the highest in the region.

Moreover, the economic and political stability and connectivity with other countries have made multinationals use Panama for regional operations, said Arosemena.

“Panama will have the human resources, conditions and stability they need,” he added.

Multinationals are multiple sectors such as logistics, finance, banking, transportation, food, communication, among others.

The official said the latest company to move its operations to this country has been the food Swiss Nestle, which will in Panama shopping center for Latin America.

Also Dell, the computer giant, has recently opened a regional hub in Panama.

“Panama is a small country, is not the most attractive market, but the market for Panama is for multinationals and businesses across the region,” Arosemena said.

Source: AFP

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