The Ministry of Commerce and Industries (MICI) announced that three major multinationals, including Anheuser-Busch Inbev, the world’s largest beer producer, have decided to establish their operations in Panama, in a period of just over 60 days. This movement not only represents a significant economic injection, but also brings with it the creation of new jobs, positioning Panama as an increasingly attractive destination for foreign investment.

This Tuesday, the Commission of Headquarters of Multinational Companies (SEM), headed by the Deputy Minister of Foreign Trade, Carlos Hoyos, gave the green light to the installation of Anheuser-Busch Inbev and Specialized Geodata Services. Both companies, of Belgian and Irish origin respectively, will make joint investments totaling 10.6 million dollars. These companies join the Sandals Resorts International hotel group, from Jamaica, which joined the SEM regime last July.

The three companies, recognized for their innovative capacity, have committed an initial investment of 11.3 million dollars in Panama. Anheuser-Busch Inbev and Geodata Specialized Services, dedicated to providing solutions for the energy industry, especially in the exploration and production of oil and gas, obtained their licenses after complying with the requirements of Law 41 of August 24, 2007.

The incorporation of these companies not only strengthens the economic growth of the country, but also enhances the transfer of knowledge and encourages the development of local talent, positively impacting the labor market.

Deputy Minister Hoyos highlighted the example of Philips, another multinational operating under the SEM regime in Panama, as a successful case in the generation of employment. Philips has created 813 jobs in the country, of which 70% are occupied by Panamanians in well-paid positions, reflecting the commitment of these companies to local talent.

SEM regime

The evolution of the SEM regime has allowed that, if there was a majority of foreign workers in its beginnings, today there is an equitable participation of Panamanians in specialized and well-paid jobs, which further strengthens the positive impact of this program.

In addition, the Ministry of Commerce and Industries (MICI) has supported initiatives such as the “My First Job” program, integrating young Panamanians into SEM companies so that they can acquire professional experience and improve their employability.

In this context, the commissioners of the SEM regime underline the importance of continuing to generate job opportunities for Panamanians, reaffirming their commitment to policies that prioritize the recruitment of local talent.

The SEM regime in Panama offers multinationals important benefits such as tax exemptions, customs facilities and a streamlining of administrative procedures, which has attracted more than 180 multinationals since its creation, accumulating approximately $1.33 billion in investments.