Panama has long had an open doors policy towards foreign investment and aggregate foreign direct investments. The country has long provided several important incentives for foreign investors, including:
US dollar-based economy
Low inflation and zero foreign exchange risk
Total absence of exchange controls
Equal treatment of foreign and local citizens
One of the most flexible company laws in the world
No restrictions on 100 per cent foreign-owned companies
No restrictions on mergers, acquisitions or joint ventures
Excellent tax holidays for specific investments in sectors such as tourism, maritime, real estate, mining, Colon Free Zone, exports, construction, and others
High percentage of labor force is bilingual
With a 91.4%, Panama is the third safest city in Latin America, only behind San Juan, Puerto Rico and Santo Domingo, Dominican Republic, according to a quality of life and personal safety survey conducted by Mercer Multinational Consultants.
The survey analyzes parameters such as social, political and economic environment, health, education or transportation of 215 cities worldwide. Ranked as 96, Panama stands out over the rest of cities in Central America. The second in the region, San Jose, Costa Rica, ranked 125, while Managua is ranked 146.
In terms of quality of life, Panama is ranked as number five in Latin America behind San Juan, Montevideo, Buenos Aires and Santiago de Chile. In this classification, the capital of Panama is also the first in Central America, 12 points above San Jose, Costa Rica.
International Scope
According to projections from the ECLAC, Panama leads the ranking of economic growth in Latin America during 2008 with an increase of 8%. Panama would be well ahead of Argentina, Peru and Cuba, which would reach a figure of 7% growth this year. Ecuador and Mexico recorded the lowest growth, with 2.7% and 3% respectively.
The Heritage Foundation and the Wall Street Journal published Economic Freedom Index 2009, where Panama is ranked 55 positioning itself among the 10 Latin American countries with greater economic freedom.
This index aims to rate 10 indicators of economic freedom, but also the level at which the economic policies of each country place the potential investors allowing them to make their own decisions for their benefit and that of their families.
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