Five multinationals establish HQs in Panama

 The establishment of five  headquarters of multinational companies  with an initial investment of $38 million has  been approved by   The Ministry of Commerce and Industries (Mici)

Juan Carlos Sosa, vice-minister of Foreign Trade of the MICI, that this first stage will generate about 116 jobs.

“After complying with all the requirements set forth in Law No. 41 of 2007, the companies Spectrum Biomedical Latam (Canada), Inceca Regional Services, Inc. (Nicaragua), ABB Central America and the Caribbean, SA (Switzerland), Alórica Panama (United States States), and EY Latam North Holding, SA (the United Kingdom and the USA), will be able to start operations soon ”, said a Mici  statement,

According to Mici the multinational companies are related to the manufacture of medicinal products, beverage production and distribution, electricity generation, call center services, and audits and tax services.

“The approval of these licenses is one more step in the search for new investments, and will positively impact the economic reactivation that is currently being promoted,” said Sosa.