Panama will host the first digital free zone of America

Editorial Dept. Voz de la Diaspora

With the establishment of the first digital free zone in the country, Panama expects to attract information technology companies, colleges and technical, and high-tech companies looking for competitive and well-connected markets to invest.

The complex companies will be located in the northern outskirts of Panama City and will be developed by BPO's Panama Free Zone with a total investment of 38 millions of dollars, of which 10 million will be allocated for initial investment.

Minister of Commerce and Industry, Ramon Martinez said the new free zone will generate 1,500 jobs technical level, intermediate and advanced in the first year of operations, benefits established under the Act in force from free zones 2011.

BPO´s Panama-Free Zone, Inc. as a developer plans to install within the complex hundred companies, digital dedicated to specialized services such as Data Center, administrative processes outsourcing, operation of global e-commerce platforms and digital management of global value chains.

Its strategic location, Free Zone facilities offered as added values ​​to connect with the capital and the main logistics centers in the country as Tocumen International Airport, the most important air terminal in 2018 mobilized more than 15 million passengers.

Added to this companies can easily connected to the ports of Balboa in Panama's Pacific and Atlantic Christopher, in addition to the Colon Free Zone, the second largest of its kind in the world, located about 80 kilometers north of the capital.

Martinez said that this new free zone "the competitive advantages of Panama reaffirmed", the country receiving the highest foreign direct investment in Central America to overcome 5 billion dollars in 2018.

In the last decade, Panama has been capitalized as one of the main squares of Central America for the establishment of regional headquarters of multinational companies operating under a special law that gives companies tax benefits, migration and connectivity.