The high level of investment that Panama has experienced in recent years, is admirable for many countries in Latin America and worldwide. Panama has become a paradise for transnational corporations. According to the latest Cepal report, the 2012-2013 grew by 61% Foreign Direct Investment (FDI).
Gogetit Highlights
* One of the reasons for this growth, are the opportunities and facilities to foreign companies so that they could invest in the country. Only in 2013, foreign investment in Panama was U.S.$ 4.651 million.
* Panama is a country that has experienced rapid growth over the past four years, leading to the transformation of a country in a small Central American power.
* Panama has a democratic system that offers tranquility: insecurity and violence occurs in very rare cases. Also, the Government of Panama was concerned about having some kind of considerations for multinational companies to establish their headquarters in the country.
With the change of Law of the Free Zone, which is the territory of a country where you can enjoy some tax benefits as of April 5, 2011, is excluded from payment of Income Tax to certain sectors which wants to encourage. These are utilities, logistics services, high technology, scientific research centers, higher education, general service companies, health care centers and environmental services companies. Definitely a change that encouraged and invited companies to go to Panama.
According to a report by Alto Nivel news portal, the Government of Panama has established in its laws and created a special regime for the establishment and operation of Multinational Corporations. Thanks to this law, they have also come companies like LG, Unilever, Heineken, Caterpillar, Peugeot, Maersk, Otis, AES, Hyundai, Sony, General Electric and Philips, among others.
Willy Zapata, Head of the Economic Development Unit of the Subregional Headquarters in Mexico of the United Nations Economic Commission for Latin America and the Caribbean, said that Central American countries, Costa Rica and Panama are the only mid-2011 had adjusted his regime of support and incentives to comply with the rules of the Agreement on Subsidies and Countervailing Measures of the World Trade Organization. This was done by Act 8794 of 2010, which amended the 7210 law regime Zone (FTZ) of 23 November 1990, in the first case and the law 32 of 2011, in the second, where establishes a special, comprehensive and simplified to establish and operate the ZF.
In addition to the incentives provided by the law of Free Trade Zone, in December 2009 Panama created the law 82 to encourage non-traditional agricultural exports. A more attractive for companies seeking to invest and prosper in Panama. Tax changes, surrounded by Panamanian law, has made this country is seen as fertile ground for investment. But beyond that, investors are assured that the government is working to support them in their companies go hand in hand with growth.
Read more information here (article in Spanish).
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