Panama: Pharmaceutical Company Enters SEM RegimeGSK has obtained a licensed to operate under the Multinational Enterprises Branch scheme.Monday, July 24, 2017
Sridhar Venkatesh, vice president and general manager for Central America and the Caribbean, explained to Laestrella.com.pa: "... from our SEM office we will run the site our Pharmaceutical Division for Central America and the Caribbean and the site for our Demand and Substitution hub for Latin America. With this opening, there will now be more than 300 jobs that will be generated in the country. The projected investment for this project over three years is approximately $2 million." Source: laestrella.com.pa Request more information: June 2016 At the close of the first semester 13 new licenses will have been approved giving foreign companies the ability to operate under the Site of Multinational Corporation regime. August 2015 The government plans to extend the incentives of the law 41 other multinational companies not included in the original text, such as the manufacturing sector. December 2014 The special tax regime for multinationals which have an established site in Panama remains the main factor, while the low supply of trained personnel has been identified as a serious problem. November 2012 British drugmaker GlaxoSmithKline has moved its Latin American clinical research and medical affairs center from Brazil to the Ciudad del Saber, Panama.
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