A total of 58 multinational companies settled in Panama in the last two years

58 Multinational Companies Have Established Operations in Panama It The Past Two Years

Friday, April 13 2012 @ 11:29 AM COT
Contributed by: Don Winner
Views: 138

Ricardo Quijano – Panama’s Minister of Commerce and Industry
A total of 58 multinational companies settled in Panama in the last two years, attracted by a law that provides facilities for this type of investment, said the Panamanian government today. The Minister of Commerce and Industry of Panama, Ricardo Quijano, said the 58 new multinational companies are opening opportunities for the growth of the economy of this nation over the next five years, and contributed revenues of about $40 million to the country with the start of their operations.
In an interview with a local Radio Station in Panama, Quijano confirmed there soon will be a new office in operation on Calle 50 in the banking sector of Panama City, so that the agency of investment promotion Proinvest can directly attend to investors. He also said the trips by president Ricardo Martinelli to seminars like “Panama Invest” held in cities around the world help to generate business opportunities in the country.

Quijano also noted that many of the newly arriving multinationals are setting up shop in the area of Panama Pacifico, on the west bank of the Panama Canal in the Pacific, which operated in the past as the U.S. military’s Howard Air Force Base. According to the Minister of Commerce and Industry, it is also important in this evolution of business development in the country, to improve the infrastructure of the ports, airports and highways. He mentioned a recent meeting with the new manager of the US United Airline in Panama, who expressed interest in the country. “The airline KLM now has a daily flight to the country, whereas before it was once a week,” he said.

The minister stressed that there are conditions for the growth of the Panamanian economy over the next five years. He considered a positive sign of the dynamics of the momentum Panamanian economy is the number of new car sales this year, and they estimated there would be record sales of between 47,000 to 48,000 units.

With regards to the inflation being experienced in Panama, he recommended to the Panamanian people that they should rationalize expenditures, and consider the impact of rising international oil prices. Quijano estimated that Foreign Direct Investment this year will be on the order of $2.8 billion dollars in Panama, a level similar to last year. (E

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3 Responses to “A total of 58 multinational companies settled in Panama in the last two years”

  1. Lisa says:

    si pudieran flcaiitarme informacion sobre las zonas libre de combustible, ya que estoy realizando mi trabajo de graduacion sobre las zonas economicas especiales y estas zona esta incluida.Gracias

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