This is a well thought out program that has produced solid results.  Here is an article from CentralAmericaData.com

25 multinational companies from around the world have expressed interest in setting up in Panama under the Law of Multinational Corporations (SEM in Spanish).

The stable economic growth being experienced in Panama is one of the reasons why international companies are interested in the country, in addition to the benefits provided by being in close proximity to the canal.

Aware of what they have to offer as an investment destination, government agencies have staged a number of high-profile ‘Panama Invest’ events in major cities, in order promote the country’s advantages.

An article on Panamaamerica.com.pa states: “Panama expects to have gained about 200 companies under the SEM scheme by 2012, and approximately 500 by 2014.

Since 2005, this has contributed $338 million to the national economy, and has generated 746 jobs for nationals and 1136 for foreign employees. ”

An example of this is covered in another article about a company in Germany that is looking over Panama very seriously.

German Company Shows Interest in Panama

A press release from Panama’s Ministry of Trade and Industry (MICI in Spanish) states that the German delegation, headed up by Patricio Cajiao, has met with José Pacheco Tejeira from Panama’s Foreign Ministry to express its interest in setting up operations in the country.

The minister commented that Dräger’s arrival in Panama is due to the “Panama Invest” event held recently in Munich, Germany, where the company was made aware of the benefits Panama offers as a center from which to expand in the region.

Dräger employs approximately 11,000 people around the world in over 190 countries. Its production and research facilities are located in Germany, Great Britain, Sweden, the Netherlands, South Africa, the USA and China.

The minister added that the plan is to continue promoting Panama internationally through the Investment Promotion Agency (PROINVEX in Spanish).