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Latin America Investment News on Viva Tropical

Companies Still Flocking to the Special Economic Area Called Panama Pacifico

Article Summary:

Panama Pacifico draws between 8 to 10 international companies each month. Most recent economic data from July shows a reported investment by these companies at U.S. $ 151 million, over the goal amount of $ 110 million. Official investment goal for the project is U.S. $ 705 million at the end of the contract, of which U.S. $ 405 million must be invested by the year 2015.

Original Article Text From Revista Summa via Google Translate :

Panama Pacifico Special Economic Area totals More Companies

The world of business targets for sustainability, this means efficiency in different administrative and operational aspects, 119 companies have identified this direction and aim to dominate the regional market from the Panama Pacifico Special Economic Area.

‘Monthly business with 10 or 15 companies, of these, signed with 8 or 10 each month, here are companies from almost everywhere in the world, “said John McKay, Communications Officer London & Regional Panama.

And is that the projected economic zone companies house about 1.00 and thus generate 40,000 direct jobs, said Henry Kardonski, general manager of London & Regional, the project developer.

According to Kardonski, the process for establishing a company takes about 4 to 6 months, this by coordinating public – private partnership between the company and the government.

“After we visit a company passes to the government office (the Panama-Pacific Agency) which determines whether the activity that can be dedicated tax-exempt, once registered negotiate contracts (one month depending on the lawyers and the accounting firm), fits the site and begin operations’, he said.

Additional benefits of tax exemption, employers can make all the arrangements for its operations in a single window that includes the payment of social security, immigration documents, among others.

Among the new companies that occupy the logistical and commercial development are Marine Energys Wakefield, Corp, Panamlam, Ascon Panamax Herrenkenecht Panama Tunneling Services Corp, Grainger, KPMG, Alliance Transport Logistics, Malcolm Ware, Independent Petroleum Panama, among others.

According to representatives of London, in July this year have been reported to the state U.S. $ 151 million, “the goal was $ 110, our goal is to invest U.S. $ 705 million at the end of the contract, of which U.S. $ 405 million must be invested at 2015 ‘.

Prices for rentals in Panama Pacifico are $ 8.95 per square foot for the wineries, $ 20.95 m2 offices and commercial premises $ 22.50, these rates are added administrative costs.

Link to Original Article:

From Revista Summa

Latin America Investment News on Viva Tropical