Both governments announced that they have signed an agreement to unify customs in order to expedite the transport of vehicles and people, with effect from 1 June.
With this agreement, it is expected that the border between the two nations will be fully liberated for both freight and passengers in December. Immigration procedures will be carried out online or in an office to be located near the border area.
With an investment of close to a million dollars the multinational will attend to operations in Central America and the Caribbean from its new offices in Panama.
Located in Punta Pacifica the new site also has a training and education center, GE Healthcare, for the use of its health related product.
Offices for the Latin American container shipping company will be located in Panama City from August 2012.
"At present, economic conditions relating to cost, proximity to major markets, ease of travel, exchange rate stability due to using the dollar as legal tender, and synergies with other business units located in Panama, have generate necessary environment that has led us to make the decision to relocate our regional office to Panama," said Robbert Jan van Trooijen, CEO of Maersk Line in Latin America.
With an investment of $2.5 million, the multinational will serve Central America and the Andean region from an office in Panama.
President of the Andean Region and Central America at Unilever, Fernando Acosta, told the press that the company has not ruled out expanding its investments in the country in the near future, such as opening new service centers and factories.
Invoking Law 41 regarding multinational headquarters, General Electric (GE), is looking at setting up a regional office in the country.
If the project is put into action, the multinational would attend to all its operations in the Caribbean from Panama, devoting more than a million dollars to expanding infrastructure and increasing the return of workers.
The Mexican technology company has invest about $30 million to build its first Technology Campus and Computer Centers in Panama.
A press release states:
“KIO Networks said their aim is to strengthen strategy and expand its outsourcing services into new locations, as well as making a commitment to increase competitiveness and efficiency for its customers.
The high security plastic cards manufacturer opens office to serve the entire region.
The group has more than 22 years of operation offering products to banks, industries and government agencies.
"They have had presence in our country for five years through its representative Continex, but last year decided to open a subsidiary which serves the entire isthmus from here." According to El Financiero´s web site.
The announcement was made by Juan Alberto Fuentes Knight, who added that “the environmental issue has grown in importance in the regional integration agenda and in each nation’s investment plans”.
The U.S. Grains Council will open in Panama a regional office for Latin America and the Caribbean.
“The failure of the United States to ratify pending free trade agreements in the area has caused a significant loss in grain business and trade. It also has had a consequential effect on the economic development of our friends and allies in the Latin American region,” said Rick Fruth, president of the institution. “By establishing an office in Latin America and the Caribbean region, the Council is strategically positioning itself to defend U.S. markets while simultaneously enhancing the quality of life of our trading partners.”
The chocolate maker responsible for M&M's, Snickers, Mars and Dove will set up its regional office in the country.
From there it will serve Central America and the Caribbean.
"It is the 31st company setting up its office in Panama under Law 41 2007, which fosters the installation of Regional Headquarters of Multinational Companies", reported Prensa.com.
The multinational company will run its commercial operation for the region and several South American countries.
Located in the capital city, it will be in charge of coordinating marketing operations and product distribution for Central America, Venezuela, Colombia and Ecuador.
Nacion.com published declarations by Jorge Fournier, Olympus regional director: "... in the next months, we will consolidate from Santa Ana, Costa Rica, the opening of technical support centers in each country, product distributors will be trained and incentive systems will be devised for buyers".
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