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
Panama City with better quality of life
The world ranking hellebore by Mercer Human Resources Consulting Panama positions in the Top 100, calling each city based on an assessment of 39 indicators, including: political, social, economic, environmental, health, personal security, education, transportation and other public services. Panama City is ranked 90 in the ranking, and ranks as the fifth Latin American city from the list, after San Juan, Montevideo, Buenos Aires and Santiago.
Many tourists come to Panama motivated by the adventure of visiting a third world Latin American country, however, upon arrival were surprised to find a bustling city with modern infrastructure and services of the first world. All this coupled with the charm and simplicity of its people, its strategic location at the continental level (outside the path of hurricanes), political stability, low cost of living, judicial security, premier communications, the use of the dollar United States as a currency, its climate, its size, its beaches, biodiversity, and great prices on the housing market finishes first world, make it the ideal destination to live!.
International Scope
According to ECLAC projections for 2011 it is estimated that Panama's economy grows by 7.5% due to the continuation of a mass execution of both public and private projects, most notably the Panama Canal expansion, construction the first subway line and modernization of the metropolitan transport system, construction of a copper mine in the district of Donoso, the continuation of a series of hydroelectric projects and the realization of numerous investments in infrastructure projects, such as hotel projects, social housing, sanitation of the city and the bay and the building of the city government, among others. It is expected that this sequence of projects lead the country to higher growth rates in the coming years.
The Heritage Foundation and the Wall Street Journal published Economic Freedom Index 2011, where Panama is ranked world 59 in positioning itself among the 10 Latin American countries with greater economic freedom. Panama’s economic freedom score is 64.9, making its economy the 59th freest in the 2011 Index. Its score remains essentially unchanged from last year, with gains in monetary freedom largely offset by a reduced score for government spending. Panama is ranked 13th out of 29 countries in the South and Central America/Caribbean region, and its overall score is above the world and regional averages.
Panama will be for the year 2011 the second highest economic growth in Latin America and the Caribbean with an estimated growth rate of 7.5% as announced by the International Monetary Fund in its Regional Economic Outlook and 2011. Latin America and the Caribbean will grow at an average of 4.2%, 8.6% led by Haiti, followed by Panama 7.5% and Argentina 6.0%
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