Senior executives of companies that are members of the Semiconductor Industry Association (SIA), visited the Ministry of Commerce and Industries (MICI), to learn first-hand about the advantages that Panama offers for investors and to understand the incentives and regulatory frameworks it provides to this technology sector.

The agenda of the US delegation included meetings focused on the national strategy for the development of the semiconductor sector, exploration of incentives and relevant regulations.

They also focused on discussions about future collaborations with industry leaders and representatives of the private sector; allowing Panama to show the strengths of its infrastructure and a tangible vision of the capabilities and benefits that the country offers to companies in the semiconductor sector.

Semiconductors, also known as “chips”, are essential devices in all technological devices for everyday use and are the basis for the development of more advanced technologies such as artificial intelligence, the internet of things and autonomous vehicles.

In this context, the United States announced that it was partnering with the Government of Panama to explore opportunities to expand and diversify the global semiconductor ecosystem under the International Technology Security and Innovation Fund (“ITSI Fund”), created by the 2022 CHIPS Act.

Finally, and with the commitment of both parties to continue this constructive dialogue, SIA’s visit is expected to be the first step towards a deeper and more extensive collaboration, which could include future missions of SIA member companies to Panama to explore investment and partnership opportunities.