Panama has been chosen to host the host country of the sessions of the Informal Semiconductor Exchange Network (SIEN), scheduled to be held on December 10 and 11 and aim to promote the exchange of good practices to develop the business ecosystem of the semiconductor sector.

The announcement was notified to Panama by the Organization for Economic Cooperation and Development (OECD), which brings together 38 member countries, mostly from advanced economies, and of which the network known in English as Semiconductor Informal Exchange Network is part.

“The efforts to position Panama as a regional semiconductor center are a priority on our agenda and are part of the government plan of President José Raúl Mulino. We seek to increase trade by attracting international high-tech companies that trust our country as a strategic hub for their operations. We firmly believe that this investment will not only strengthen our economy, but will also boost the technological development of the region,” said the Minister of Trade and Industries, Julio Moltó, after the OECD announcement.

In addition, for Panama, being chosen as a host of this event represents a fundamental step towards that strategic goal, mainly after our selection to participate in the program of the International Fund for Technological Security and Innovation (ITSI Fund) of

The United States, which will provide resources to implement the national strategy that contains investment in human capital, infrastructure and business ecosystem for the development of the industry.

“This event will not only give Panama the opportunity to access valuable knowledge and experiences from other countries, but will also facilitate the creation of strategic alliances. By actively engaging in global initiatives, Panama will position itself as a key player in the semiconductor ecosystem, improving its competitiveness and generating quality jobs, which in turn will sustain sustainable economic growth,” Moltó said.

During his virtual participation with the OECD, before the official announcement about the selection of Panama as the venue for the SIEN event, the Deputy Minister of Foreign Trade, Carlos Hoyos, underlined the reasons that justify this choice. He highlighted the geographical location of the country, which positions it as a key ally for regional partners seeking to expand their presence in the semiconductor industry. He also mentioned Panama’s efforts to develop its workforce in this sector, through the National Secretariat of Science, Technology and Innovation (SENACYT), which leads an ambitious training strategy aimed at training the next generation of talents.

Thanks to the call made by SENACYT, acceptance has been achieved for internships at Arizona State University and Purdue University, which will significantly contribute to the training of the talent necessary to promote this industry in Panama.

In addition, the national strategy includes the development of an optimal business ecosystem, which focuses on creating an attractive environment for business through key alliances with local and international educational institutions, with regulation to facilitate permits.

“We see the value that the OECD’s Semiconductor Informal Exchange Network can provide as we build our future together,” said the deputy minister.

In Panama, opportunities have been identified to develop semiconductor assembly, testing, packaging and distribution activities, a sector that generates more than $600 billion in the global market.

Being the host country of this event is the result of several previous efforts that have paved the way towards our goal of becoming a regional semiconductor center. These efforts include the recent visit to Panama by Joe Stockunas, president of SEMI Americas, and the creation of the Microelectronics and Semiconductors Commission, made up of 17 representatives of the public, private and academic sectors; as well as the development of a plan to define our National Strategy in this sector, and which is close to completion to be presented in the Cabinet Council.

After the choice of Panama as the venue for this important event, the deputy minister pointed out saying that “looking to the future, semiconductors will be the basis of almost all advanced technologies, and Panama is ready to contribute to this global effort.”

The Organization for Economic Cooperation and Development (OECD) is an international entity that promotes policies aimed at improving the economic and social well-being of people at a global level. Founded in 1961, the OECD has established itself as a key reference in international cooperation in economic, social and environmental areas.”