Huge Investments in the Panama Business Environment

July 1, 2008

Panama’s business environment presents a favorable image to foreign and local investors alike. Panama City the principal commercial center followed by the Colon Free Trade Zone. Panamanian economy has experienced very dynamic growth in the past years, after suffering setbacks brought by the Noriega administration and the sluggish growth in 2000-2002. Industries behind this dynamic growth are transportation (including the Panama Canal, the container transshipment ports, railroads, air transport and domestic passengers and cargo transportation), the Colon Free Trade Zone, construction, wholesale and retail trade, restaurants and hotels, communications, financial intermediation and real estate activities.

Doing business in Panama is convenient because Panama uses the U.S. dollar as its legal tender, the balboa (the Panamanian currency) being interchangeable with it. Since there are no valuation/conversion concerns, it has practically eliminated current exchange risks for US dollar-based companies. There are also no restrictions on funds transfer in and out of the country, which makes it easy to invest and divest. Business hours are 8:00am-6:00 pm, with 1

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