Panama: Digital Hub

Digital

March 12, 2021

Panama: Digital Hub

In today's world, almost everything is just a click away. Connectivity is a very important part of our lives, and it will continue to grow as the world embarks on a recovery process. Staying connected is crucial to doing so many things like watching a movie, ordering food or buying whatever items we need, from books, music to clothing and electronics. The communications, data management, content creation, and innovative solutions to old and new problems will be an intrinsic part of the global recovery process. Both countries and companies will depend on data and communications to reach their stakeholders, plan their strategies and generate innovation in their products and services.

Panama is no stranger to promoting connectivity.  At a glance, we have two of the busiest ports in Latin America, with access to 144 maritime routes and 1,700 ports around the world, and 89 air destinations that reach 38 countries directly from the Hub of the Americas; we are also the meeting point for seven continental fiber optic cables, with two additional on the way, representing 100% of regional Internet traffic, 97% of international voice traffic and 90% of data transmission (Source: ECLAC).

Our country offers the right environment for companies to recover from the crisis caused by COVID-19, since our digital platform allows: storing data safely and reliably; managing and developing contents, for areas such as logistics, aviation, pharmacy, financial services, agriculture and many others.

Currently the country has the Strategy for the Development of the ICT Sector 2025 - PANAMA DIGITAL HUB made up of 4 human talent pillars, physical and social infrastructure, financial resources, and legal regulatory framework. The Strategy creates a map to follow of coordinated programs and projects that make it possible to achieve the strategic objectives to promote cluster relationships and sufficient resources to make the ICT sector competitive at an international level (https://panamahub.digital/es/panama-hub-digital/acerca-de).

As part of the digital transformation process, in 2020 an agreement was signed with the Israeli company BaseCamp, for the development of a technological ecosystem based on the Gav-Yam Negev technology and innovation park model, in Beersheba, Tel Aviv.  This park stands out worldwide for its developments in cyber security issues. Simultaneously and as part of this process, work is being done on the development and implementation of platforms that: automate government processes, boost electronic commerce and promote educational innovation.

For the President of the Republic, Laurentino Cortizo Cohen: “turning Panama into a digital 'hub' aims to attract investments from technology and innovation companies around the world to encourage entrepreneurship, education and enhance Panamanian talent, closing the inequality gap”.

Becoming a Digital Hub will allow the country to further strengthen its logistics platform, increasing its value and wealth to improve aspects such as exports, tourism and attraction of foreign investment, thus increasing employment and boosting the economy. Thanks to these benefits that are expected to be achieved, special importance has been given to the establishment of data centers, startups incubation, entrepreneurship and technological research initiatives.