Panama: World Hub

Posted on 2018-03-21

The establishment of more than 100 regional headquarters of multinational companies is consolidating to Panama as a logistic hub of the world.

The high connectivity of the country is a factor key said the President during his participation as a speaker in the meeting on the AT & T telecommunications company leadership. In his dissertation entitled Panama a success story, the President stressed that "our geographical position has played an important role in the historical development of the region," being the route of transit of regional and global trade. In addition, Panama is one of the smaller countries of the American continent, a country that opened its heart to make way for the world's trade and today is the epicenter of an important maritime trade.

Varela also detailed the contributions generated by the expanded Canal, whose work of engineering directed by Panamanians still spearhead in international trade. "We continue uniting the world, putting at the service of the international trade our geographical position, infrastructure Canal and railway, the Tocumen International Airport, and an advanced technology that allows the intercommunication", said. Likewise, he pointed out that Panama is the most connected country in the hemisphere, since the railway allows the transshipment of cargo in the Americas, the new expanded channel that almost triples its capacity has allowed access to a market of 3.5 billion people, along of 1,700 ports in 160 countries, through 144 sea routes

"This is our hub of global connectivity: a secure logistics platform and a solid financial system which makes Panama a key destination for business and investment", said. In relation to its economy, Varela said Panama has one of the fastest growth rates in Latin America and in the world, with 6% in 2016, unemployment below 4% and a foreign investment, which increased by 5.8% 2017 exceeding $ 3 billion.

He stressed that Panama is among the 50 most competitive economies in the world, according to the global competitiveness index 2017-2018 WEF and it occupies the first place in port logistics competitiveness of Latin America.

Source: AN Panama