The covid-19 outbreak dissipated the investment intentions of companies globally. At the beginning of the fourth quarter of the year, there are signs that business confidence has begun to recover; however, pessimism among investors is expected to continue next year.

Panama has already anticipated this scenario of competition that is developing and to try to attract the few investments that would be executed, at the end of August President Cortizo sanctioned the law that creates the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services related to Manufacturing.

This law intends to promote the establishment of multinational companies for manufacturing, light manufacturing and assembly, requiring the direct hiring of labor.

Check out the "System for monitoring markets and economic situation in Central American countries", developed by CentralAmericaData.

Costa Rican authorities also predict strong competition. Eric Shaf, president of the Costa Rican Coalition of Development Initiatives (Cinde), told Crhoy.com that a fierce fight for FDI is expected to take place next year "... especially because investment flows are drying up as a result of the same pandemic, which forces companies to rethink the development of their projects in the midst of the parallel world economic crisis."

The article adds that "... the arsenal required by Costa Rica to be a winner in the race to attract more FDI is related to the package of incentives it can offer companies to set up operations in the country."

Mexico, Colombia and Chile, which in some aspects could be competitors of Central America, are countries that in this context of crisis have implemented ambitious aid plans for companies affected by the health and economic crisis.

Source: Crhoy.com

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Law on Multinational Companies Sanctioned

September 2020

Panamanian President Laurentino Cortizo, sanctioned the law that creates the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services related to Manufacturing.

After the deputies of the Panamanian Assembly approved in the third debate last month the bill that aims to promote investments in this context of economic crisis that derives from the outbreak of covid-19, the President of the Executive sanctioned the regulation on August 31, 2020.

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