Spanish SMEs Come to Panama

In recent years, some two hundred small and medium enterprises from Spain have started operations in the country.

Monday, June 25, 2012

The arrival of large consortia like Vallehermoso, which is building the third set of locks for the Panama Canal expansion and Astilleros Armón from the Principality of Asturias, responsible for building and delivering 14 tugs to the Panama Canal Authority, has brought with them as well the entry of small and medium sized Spanish firms.

"Another company that acts as a magnet for Spanish subcontractors is Fomento de Construcciones y Contratas (FCC), which together with the Brazilian company Norberto Odebrecht is building subway line 1 in Panama City.

The executive director of the Spanish Chamber of Commerce in Panama (Caespan), Maria Jesus Alonso Ros said that besides the well known companies like Telefónica, Sacyr, FCC and BBVA, the country is counting on small and medium enterprises (SMEs) in the construction, renewable energy, water treatment, tourism and technology sectors."



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Through a mutual fund, the World Bank and other multilateral institutions, will be awarding $50 million to finance small and medium enterprises in the region.

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Boost for Microfinancers in Panama

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The BBVA Foundation and AMPYME have agree to the first private-public partnership for microfinancers in Panama.

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Honduran SMEs Request Incentives

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Micro, small and medium sized enterprises have asked the government to create financing incentives.

The proposal seeks to develop the sector and ensure growth in the micro enterprise sector next year.

José Enrique Núñez, president of the Honduran SME Association (Anmpih in Spanish), told Laprensa.hn that, "the proposal will incentivize the opening of the new market and generate an increase in companies' production, thereby creating jobs for many people".

$20 Million for Small and Medium Sized Panamanian Enterprises

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