There are few better places to run Procter & Gamble’s growing Latin America business than the Costa del Este neighborhood of Panama City. A mix of corporate offices and highrise residential towers on the edge of the Pacific, it’s attracting a diverse set of international companies, including 3M, AES, Nestle and Samsung. “In Panama we have found a business-friendly environment with an open-door policy,” says Juan Fernando Posada, P&G’s president for Latin America. The Central American nation is best known for its eponymous canal, a majestic symbol of global trade, through which flows 5% of all the world’s goods. But Panama is much more than just a place to pass through, as its central location, modern trade infrastructure and economic and political stability have combined to create a strong draw for foreign businesses seeking to build regional trade operations or manufacturing hubs. In 2007, Panama’s legislature passed a package of corporate tax, labor and immigration benefits that have led 175 multinationals to establish regional headquarters in Panama, accounting for $1.2 billion in investment. In a sequel of sorts, in February, Panama enacted a second set of rules that extended those benefits from headquarters operations to manufacturing facilities. Companies Participating in the Multinational Headquarters Regime (SEM) 175 total!! “There are definitely very clear factors that made Panama a good decision to strategically locate our Latin America HQ,” says Posada. “The economic and political stability that the country enjoys, security, its financial services and definitely the easy air interconnection with the rest of the region.” Juan Fernando Posada, President P&G Latin...
News from Panama
News from Panama
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