subject: Global Business Moving To Panama [print this page] The Panama economy is booming big time, with the government reporting rates of around 8.5 per cent growth in the economy each year. When there is such strong economic expansion happening, it comes as no surprise that there are more and more multinational companies that are moving there and opening up offices and trade in the country.
One of the reasons that companies are attracted to the country is that the banking system there is reliable and has not been subject to the closures and collapses that have been seen in many countries over the past couple of years. The stability that has been established there helps to give confidence to investors.
Furthermore many companies have been coming to the country because the canal is being expanded and there are huge amount of resources and human resources that are needed to make it a success and continue on schedule. This means that there are massive business windows that are open for loads global companies. Interestingly the current expansions to the canal are bigger than the first canal project which was implemented back in the early 1900s.
The current Panamanian national government has been working hard to remove obstacles to investment in the country such as corruption and inefficient governmental practices and policies. This has been a deliberate approach by the government to make investment there a more attractive option for companies from around the world.
Another benefit to basing operations there is that it can act as a hub to North America, South America, Central America and the Caribbean. This can make keeping up with operations that you have in different regions more efficient as well as more affordable. The country does not fall on an earthquake fault line or suffer from extreme weather and hurricanes such as some other countries in the same region either and this also helps to make operations and insurance easier too.
On top of the infrastructure and benefits that are put into place by the government, there are other things that can attract people to the country. Some of these things are the geographic location, which is effectively a hub between North and South America and Central America and the Caribbean. As well as this it is not an earthquake danger area and it does not have hurricanes or other natural disasters that are countries in similar regions are prone to.
Many companies are just starting to realize the opportunities that are available in the country and make moves to have their businesses take advantage of it. There will be more companies of just about every description coming to the country in the next few years thanks to the proactive policies of the government there.
The government of Panama is being very proactive in attracting multinational companies of all descriptions to move to the country and open their doors for business. Many companies are only just starting to become aware of the benefits that await them when they move their operations there and in the near future it is likely that even more big businesses will be land there.
by: Tyler Ramos
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