Even as the world’s economy has cooled down, Panama’s remains red-hot and is expected to grow faster than any of its neighbors this year. For those looking to hang a shingle there, the Panamá Pacífico business park should be high on your list of places to consider.
Just a few miles from Panama City, this new project aims to create a beacon for commerce, industry, and lifestyle. Panama Pacifico, a $700 million project being developed by Jaime Gilinski and London & Regional Partners. Based on the former Howard Air Force Base in Panama, the land comprises 2,750 acres. This is yet another sign that Panama is strategically positioning themselves to prosper in the 21st century and beyond.
The benefits of opening a business in Panama are manifold, starting with the tax benefits the country affords and the stable government that’s allowed businesses there to flourish during the past 10 years. The Panamanian government has set up special economic zones — Panamá Pacífico is situated within one — that give companies that set up within the zones special tax, labor and legal incentives. With a large, bilingual workforce at hand, the government also offers incentives for workforce development and training. The country’s central location and world-class telecommunications and transportation infrastructure make it an ideal hub for any global business doing trade within the hemisphere.
Situated near the mouth of the Panama Canal, with east access to the Pacific and Atlantic oceans, ports and railroads, Panamá Pacífico is 15 minutes from downtown Panama City, 45 minutes from Tocumen International Airport, and close to the Pan-American Highway that connects the Americas. Panamá Pacífico’s existing site infrastructure includes a redundant fiber-optic loop that makes high-speed communication a snap. And companies with expansion plans will find the business park’s grounds and its utilities infrastructure are ready to accommodate future growth.