Panama: Latin American Base for French Companies

French investment in Panama has reached $600 million and is projected to reach $1 billion in 2010.

Monday, March 9, 2009

An article by AFP in reported that the French ambassador to Panama, Pierre Henri Guignard, said: "Panama is a key player in the globalization of Latin America and our companies understand this."

GDF Suez is the company that has made the largest investment in Panama, developing power generation projects for $650 million.

Sanofi-Aventis, Total and L'Oréal have chosen Panama as the headquarters for their Latin American operations.

More on this topic

Renewed French Interest in Panama

July 2011

The removal from the OECD’s gray list and the signing of a tax information treaty with France has led French companies, such as Alstom, to renew their interest in Panama.

While Panama was included in the "gray list", French companies had to pay a 50% rate for income tax, rather than the traditional 30%.

France Approves Double Taxation Agreement with Panama

November 2011

The French government has approved a bill to formalize the double taxation agreement with Panama.

The French government issued a statement after the Council of Ministers meeting which says, "The French government today approved the bill to formalize the agreement on double taxation with Panama, whose final adoption should allow the Central American country to be removed from the French list of tax havens."

France-Panama Chamber of Commerce

February 2016

The new business entity seeks to convene 100 companies in two years, and foster business development, trade and investment between Panama and the European country.

The Franco - Panamanian Chamber of Commerce (CCFP) is a non profit organization that seeks to bring together the business sector of both countries to promote business development, trade and investment.

France Increases Consumption of Organic Products

August 2012

The French market for organic products grew by 10% in 2011, despite the crisis.

From a press release by Procomer:

Despite the crisis the consumption of organic products in France has increased.

In ten years, the French "bio" market, despite the crisis, has maintained the interest of consumers.

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