Five multinational companies get green light to start operations in Panama
The Multinational Company Headquarters Licensing Commission (SEM) approved this Thursday the establishment of five new Multinational Company Headquarters in the country, which will invest approximately US $ 38 million in its initial stage, and will generate about 155 jobs, informed the vice minister of Foreign Trade of the Ministry of Commerce and Industries (MICI), Juan Carlos Sosa, who chaired the Commission.
After complying with all the requirements set forth in Law No. 41 of 2007, the companies Spectrum Biomedical Latam (Canada), Inceca Regional Services, Inc. (Nicaragua), ABB Central America and the Caribbean, SA (Switzerland), Alórica Panama (United States ), and EY Latam North Holding, SA (United Kingdom and USA), may start operations soon.
The aforementioned multinationals are engaged in activities such as the manufacture of medicinal products, beverage production and distribution, electricity generation, call center services, and audits and tax services.
The General Directorate of Multinational Company Headquarters of the MICI, as a facilitator for attracting foreign investment, followed up on these companies that showed interest in the country to establish their regional headquarters, submitting their license applications to the SEM Licensing Commission, to your due approval.
"The approval of these licenses is one more step in the search for new investments, and they will positively impact the economic reactivation that is currently being promoted," said the official.
Sosa explained that the logistical advantages of Panama and the benefits of its special regimes, which are being reinforced and others promoted for specific industries, such as manufacturing under the EMMA Regime, "will allow us to reaffirm our position as an attractive place to invest."
Adding these five new SEMs, the Multinational Company Headquarters Directorate currently reports 162 companies registered under the regime, which represent a foreign investment of approximately US $ 1.17 billion.