Multinationals in Panama, have been operating in the country since about 2007, under the figure of Multinational Corporations (SEM). Over the years, thanks to the Panamanian economy and positioning of the country in 2011, 22 offices of multinational companies came to the country, while 21 companies did the same in 2012 and the same amount in 2013.
By the end of last 2015, Panama ended the year with 117 registered companies, and now in 2016, five new companies are to be approved to enter the country under the guise of Multinational Corporations (SEM).
Multinationals in Panama – Gogetit Highlights
* Multinationals in Panama are increasing to more than 120. Some of the companies that have settled in the country are companies such as Procter and Gamble, Adidas, Halliburton, Dell, Bayer, Caterpillar, Bauer, Phillips and Nestle, among others.
* In 2015, between January and December, there were registered 13 licenses, which indicated a projected initial investment of U.S.$ 11.4 million. This represents a direct foreign investment of U.S.$ 784 million and generating more than 4,000 jobs.
* By 2016, five companies are expected to be approved to enter the country. They are companies in the financial sector (a bank), energy, pharmaceuticals and health.
Multinationals in Panama, have contributed very positively to the country’s economy way. Foreign direct investment has reached very high levels, and is expected to continue as well. According to Deputy Minister of Foreign Trade, Nestor Gonzalez, five new companies will be approved to enter the country under the guise of Multinational Corporations (SEM). Still unknown what these companies will, but that will be announced in the financial sector companies (a bank), energy, pharmaceuticals and health.
Since 2007, they have installed many multinational companies in Panama. According to the Directorate General of Multinational Corporations of the Ministry of Trade and Industry, Panama ended 2015 with 117 registered companies.
Moreover, the Minister of Trade and Industry, Augusto Arosemena, announced that the installation of regional shopping center company Nestle is moving forward and that it required at least 150 people between local and foreign. Nestle already has licensed SEM, and these operations would be covered by such a regime.
Another major company that operate in Panama under Law SEM, is the american company Del Monte, which is currently finalizing the revision of the Memorandum of Understanding, to sign up the agreement by which transnational receive a grant of 20 years and investment about U.S.$ 145 million in the reactivation of banana production in the region of Baru, Chiriqui province.
In the Memorandum of Understanding, Del Monte undertook to submit an Environmental Impact, while the Ministry of Environment inspect the various irrigation canals to proceed to grant the concession of water.
Del Monte expects to invest approximately U.S.$ 145 million to boost banana production on some 5,000 hectares, generating some 15,000 direct jobs. At the moment, Del Monte plans to produce bananas, although it is not excluded that in the future other products are grown.