A delegation from Panama presents business and investment opportunities in the country

Business Meeting at CEOE

Headed by the ambassador and director of the ProPanamá Agency, Carmen Gisela Vergara.

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A Panamanian delegation held a meeting with Spanish companies en CEOE, to report on the economic situation and present the business opportunities in investment in the Central American country. The permanent secretary of the Council of Ibero-American Entrepreneurs (CEIB) and director of CEOE International, Narciso Casado; the deputy deputy director of the General Secretariat of Ibero-America and North America of the General Directorate of Trade and Investment of the Secretary of State for Commerce, Begoña Montoro; the Economic and Commercial Counselor of the Embassy of Panama, Christine Brostella; the ambassador and director of the Pro Panama Agency, Carmen Gisela Vergara; the president of the country's Exporters Association (APEX), Rosmer Jurado, and the representative of GRUPO LAFISE for Europe, Elizabeth Saavedra.

 

The permanent secretary of CEIB and director of CEOE International, Married Narcissus, highlighted in his speech the presence of 122 Spanish companies established in Panama, not only to invest, but to stay. These investments make the country the first destination for Spanish investments en Central America, representing more than 5% of the total stock of foreign direct investment that the country receives, positioning Spain as the fifth investing country.

 

Casado highlighted that Panama is much more than a canal, "it is the most dynamic Latin American economy that has experienced intense growth in the last decade, with an average rate of 7%, the highest of all." Latin America”. All of this, he indicated, accompanied by an excellent geographical position, which places it as the commercial and logistics hub par excellence in Latin America and as one of the most open and dynamic countries in the region, especially in relation to climate and ease of doing business. In this sense, he explained that Panama has been able to take advantage of its privileged position by connecting the world at a maritime, airport and digital level with the laying of seven fiber optic cables in which Spanish companies have invested, which demonstrates the level of trust and commitment of both countries.

 

 

Narciso Casado highlighted in his speech the presence of 122 Spanish companies established in Panama, not only to invest, but to stay.

 

 

Finally, Casado emphasized the work that is carried out by CEOE and from CEIB to strengthen dialogue in the region, through collaboration with the Ibero-American General Secretariat (SEGIB) and with the Ibero-American Federation of Young Entrepreneurs (SET), as well as with global institutions such as the GOOSE and also with the OIJ (International Youth Organization), among other; establishing itself as the best regional platform to value the competitiveness factors common to Ibero-American entrepreneurs. He also took the opportunity to announce that this week begins the path towards XXVII Ibero-American Summit of Heads of State of Andorra 2020, whose motto will be “Innovation for Sustainable Development, Objective 2030” and, therefore, invited the participants to the I Ibero-American Open Innovation Forum, which will be held on the 27th and 28th in CEOE.

 

Business opportunities

 

The ambassador and director of the ProPanamá Agency, Carmen Gisela VergaraHe stressed that Panama It is a world-class logistics platform, it has the most important ports in the region; It is a highly relevant air hub, with 86 destinations in America, 38 en Europe, 415 daily operations and 12.000 annual passengers; as well as an international banking and financial center, with a total asset of 121.484 million dollars in 2019, 2,7% more than in 2018. In this sense, he stressed that the Central American country is one of the most connected in the world, it has 100% of regional internet traffic, 97% of international voice traffic, 90% of data transmission.

 

Vergara also reported that there are 54 laws or regimes that offer investment incentives in the country, such as Panama SEM, City of Knowledge, Colon Free Zone, Panama Free Zones or Dicine, among others. Furthermore, the Government recently approved the Law of Public-Private Partnership which includes social and economic investment projects in the sectors of roads, energy, telecommunications, schools, public buildings or water treatment. The director of the Pro-Panama Agency encouraged Spanish entrepreneurs to invest in agriculture (blockchain for traceability or agricultural intelligence), pharmaceutical sector, disruptive technologies, creative industries, renewable energy, environment or tourism.

 

CEOE-Pro Panama collaboration agreement

 

To conclude her intervention, the director of the ProPanamá Agency exclusively presented the new tools with which his agency intends to continue promoting the attraction of investments and promotion of exports of Panamanian products, consisting of the possibility of holding virtual business conferences, as well as virtual international trade fairs, facilitating contact between companies and with it, trade between both countries. The members of CEOE will be able to enjoy this tool thanks to the collaboration agreement signed between the employers and ProPanama, to intensify and promote bilateral relations, as well as promote technological and industrial cooperation.

 

In turn, the president of the Association of Exporters of Panama (APEX), Rosmer Jurado, spoke of the opportunities for commercial exchange with the Central American country; and Elizabeth saavedra, Representative of LAFISE GROUP for Europe, focused on exposing the existing incentives and aid in the field of banking and commercial financing in Panama.

 

The deputy deputy director of the General Secretariat of Ibero-America and North America of the General Directorate of Trade and Investment of the Secretary of State for Commerce, Begoña Montoro, concluded by highlighting the work that his office carries out in promoting investment and internationalization of Spanish companies, both through the services provided by the network of Spanish Economic and Commercial Offices abroad, and through the Fund for the Internationalization of Companies (FIEM).