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.
One of the reasons that is making investment attractive is that it is the world's second largest free trade area behind Hong Kong and the biggest in the region. It also has the world's largest merchant fleet at hand and there are plans in place to construct five new international airports to facilitate freight and transport in and out of the country.
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.
The economy is increasing drastically and there is more investment than ever before. There are so many compelling reasons for multinationals to be based in the country and lots of companies are only now beginning to understand the benefits to doing business there.
The economy has been growing at an impressive rate thanks to the work of the national government to take full advantage of the natural benefits the country has and the position that it can place itself on an international scale. With more and more multinational companies choosing to open up in Panama, it is likely that we will see the economy continue to grow well into the future.
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.
One of the reasons that is making investment attractive is that it is the world's second largest free trade area behind Hong Kong and the biggest in the region. It also has the world's largest merchant fleet at hand and there are plans in place to construct five new international airports to facilitate freight and transport in and out of the country.
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.
The economy is increasing drastically and there is more investment than ever before. There are so many compelling reasons for multinationals to be based in the country and lots of companies are only now beginning to understand the benefits to doing business there.
The economy has been growing at an impressive rate thanks to the work of the national government to take full advantage of the natural benefits the country has and the position that it can place itself on an international scale. With more and more multinational companies choosing to open up in Panama, it is likely that we will see the economy continue to grow well into the future.
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