Leader of global semiconductor industry association visits Panama

Posted on 2024-09-05

In an effort to consolidate Panama as a key player in the global semiconductor industry, Panama Pacifico welcomed Joe Stockunas, president of SEMI Americas, to explore integration opportunities in the global supply chain.

Panama Pacifico welcomes SEMI Americas to boost the semiconductor industry in the country.

In a significant step towards the consolidation of Panama as a key player in the global semiconductor industry, Panama Pacifico welcomed Joe Stockunas, president of SEMI Americas, the leading organization in the development of the semiconductor value chain worldwide.

Stockunas, accompanied by a high-level delegation, including the Vice Minister of Foreign Affairs, Carlos Arturo Hoyos; Drs. Eduardo Ortega and Carlos Maynor Salinas Santano of SENACYT; the Administrator of the Panama Pacifico Agency, Arq. Javier Suárez; the CEO of London & Regional Panama, Henry Kardonski; and representatives of the Ministry of Commerce and Industry, explored new opportunities to integrate Panama into the global semiconductor supply chain, a crucial sector for technological innovation and the economic development of the country.

“Panama has all the potential to be a key player in the global semiconductor market: we are a stable logistics and business hub that can receive this industry. Our country offers unique competitive advantages in connectivity and infrastructure and is developing in human talent, positioning us as a strategic partner for the development of this sector in the region and the world,” commented Henry Kardonski, CEO of London & Regional Panama.

During the visit, the delegation toured the facilities of the J. Cain company, where they were received by Luis Carlos Motta and Cristian Smith, who highlighted the operational and technological capabilities of the company, underlining its potential to contribute to the growth of the semiconductor sector in Panama.

The conversations focused on the strategic role that companies established in Panama Pacific can play in creating a competitive environment for advanced manufacturing and semiconductor research, an industry that, according to data from McKinsey, will reach a value of $1 trillion dollars by 2030. Perspectives of collaboration, expansion and alignment with the global goals of sustainability and high technology were also discussed.

Joe Stockunas, President of SEMI Americas, highlighted Panama's competitive advantages, such as its geographic position and its robust investment and logistics ecosystem, describing Panama Pacifico as a strategic platform for the expansion of the semiconductor industry in Latin America.

This meeting marks a milestone on Panama's path towards the diversification of its economy and its insertion into advanced technology sectors. Strengthening the semiconductor industry in the country represents a unique opportunity to attract high-value investments, generate more specialized jobs and consolidate Panama's position as a center of technological innovation in the region.