Liberty Latin America plans to establish a new operations center in Panama City, from where it will coordinate the company’s activities at the Latin American level.

The company reported they selected Panama because they plan to take advantage of its economic stability, its profile as a logistics hub in the region and its great physical and digital connectivity.

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From the Liberty Latin America press release:

Denver, Colorado – February 4, 2019: Liberty Latin America Ltd. (“Liberty Latin America” or “the Company”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced plans to establish its new Operations Center in Panama City, Panama. This center will allow the Company to leverage its scale and expertise, and provide future growth opportunities to its employees.

Betzalel Kenigsztein, COO of Liberty Latin America, said, “Selecting Panama City as the location for our Operations Center reinforces our strategy to drive operational efficiencies across our platform to support our organic growth over the coming years. We look forward to leveraging Panama´s economic stability and its profile as a logistics hub in the region with great physical and digital connectivity to continue to deliver innovative products and services to our customers.”

The Operations Center is expected to create more than 500 new jobs over the next five years and will be established under Panama’s Multi Headquarters (MHQ) platform, which provides significant financial, immigration, and labor incentives for corporations.

The center is expected to be launched in late 2019.