DATA
Panama is in the center of the American continent. It is bordered to the north by the Caribbean Sea, to the south by the Pacific Ocean, to the east with Colombia and to the west with Costa Rica. It has an area of 75,517 square kilometers.
The current political-administrative division comprises of 10 provinces and 6 indigenous regions. Panama City, capital of the country, is the largest and most populated city, with 1,551,766 inhabitants in its metropolitan area, according to the data from the National Institute of Statistics and Census of Panama.
- TOTAL GDP: US$ 66.8 billion (nominal 2019).
- Growth rate % GDP 2.7% (nominal 2019 vs. 2018)
- GDP per Cápita US$ 16,245 (2019).
- GDP by sector:
- Agriculture: 2.14%
- Industry: 15.7%
- Services: 82%
Since 1904, the US Dollar has circulated as the legal currency alongside the Panamanian currency, the Balboa.
Panama has a tropical climate throughout the year in the lowlands and mild weather in the highlands. At sea level the annual average temperature is 27°C/80.6 ° F. There are 2 seasons: dry (December-April) and rainy (May-November).
The official language is Spanish. There is an acceptable level of english proficiency amongst the local business and professional communities with contributes to facilitate international transactions in and from Panama.
4.2 MILLION (2020)
Democratic system of government with general elections for the Executive and Legislative Powers every 5 years and an independent judiciary system.
THE PLACE TO BE
The Panama Canal
Now for the next 100 years. While Panama has had significant western influence through its connection to the United States, it has attracted significant attention from eastern partners such as China. As China seeks to boost its trade with the rest of the world in the wake of the pandemic, it has identified Panama's potential as a reference point for distribution..
Mining
The mineral
deposits throughout the national territory are property of the State, they may
not be the object of private appropriation, but they may be granted in
accordance with the conditions of the Mineral Resources Code.
The Mining
Sector of Panama promotes environmental, social, and economic development. For
this, it assumes and promotes the best practices and standards in relation to
the territories.
The
National Direction of Mineral Resources of the Ministry of Commerce and
Industry of Panama oversees regulating all mining activities in the national
territory.
3° Best place in the world to retire.
International Living recommends Panama as a destination where you can live healthier and happier, spending much less money.
Public-Private Partnerships
In Panama,
the Public-Private Partnerships (PPP) Regime for development has been
implemented as an incentive for private investment, social development, and job
creation.
It has been created in order to promote the development of infrastructure and public services in the country, through Law 93 of 2019.
Proven in Panama
With the trust of multinational companies from around the world installed in Panama, thanks to business-friendly policies, which have allowed investments by more than 170 multinational corporations..
Public Infraestructure Projects
Panama Metro 2nd line expansion
It consists
of expanding 2nd line of the Panama Metro adding 3-4 km towards the
Tocumen International Airport.
Panama Metro 3rd line
This project
will be developed in two phases. The first to the “Ciudad del Futuro” sector,
District of “Arraiján”, where the workshops of the line will be located, and a
second phase to “La Chorrera”.
4th bridge over the Panama Canal
With a
value of B/. 1,518,029,237.46 and a length of 45.76 km, the project has a
duration of 4.5 years.
Expansion of the Tocumen International Airport
The Tocumen
International Airport is expanded, with an investment of 917 millions, providing
transportation to more than 25 million travelers, increasing the boarding gates
from 34 to 54 and remote positions from 4 to 12.
15 transportation projects
Panama is
betting on the transport infrastructure as part of the engine for economic
reactivation.
Panama is the best connected country in America. Let your business grow with the global connectivity of Panama. Due to its unique position in world trade, Panama is a bridge for new business opportunities that benefit from valuable logistical assets by air, sea and land. Panama is the only country in the world with a terminal with access to 2 oceans, Atlantic and Pacific. Its annual cargo movement of more than 7 million containers a year defines it as the busiest ports in Latin America, moving around 164,628 tons of cargo in 2019..
WHY DO INTERNATIONAL COMPANIES INVEST IN PANAMA?
During the last decade, Panama has experienced remarkable economic progress, having doubled its per capita income in the span of ten years. Panama has stood out for promoting a competitive service sector for all activities related to the Canal, such as logistics, transportation, financial services, communications, and commerce. At the same time, the Panamanian government has actively promoted policies to attract foreign companies and stimulate innovation, through the creation of a series of Special Economic Zones (SEZs)..
Business Friendly Tax System
Panama has an array of competitive and business friendly provisions in its tax system providing for a favorable basis for the national and international business communities to conduct their affairs in and from Panama.
Internationally Connected
The role of Panama as a global gateway is the central and indispensable history in the commercialization of the country to attract international investment.
Proven Reliability + Growth
Through a stable and sovereign democracy, Panama has forged a path of economic progress and relative peace in the last century to earn the trust, investment, and attention of multinationals and governments alike.
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