Private sector invests in Panama's future.

Author:Westlund, Richard


With its prime location at the crossroads of world trade, Panama is increasingly becoming a strategic hub for multinationals doing business in Latin America. For example, Caterpillar recently moved its Latin America training center from Miami to Panama, in part due to the relative ease of entry. As the world's largest manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines, Caterpillar invested more than US$30 million in its center in the Panama Pacifico Special Economic Zone.

Hewlett-Packard selected Panama for a new global delivery center in 2007 because of the nation's well-developed information technology infrastructure, large pool of skilled workers, and government and university support. Dell operates its Latin American financial, marketing and human resources administration from Panama, along with its largest contact center in the region.

According to benchmarking indexes from Latin Business Chronicle, Panama has Latin America's best infrastructure and second-highest technology level. In addition, Panama has been first in the region in terms of the exports and imports as a percent of gross domestic product (GDP) for the past five years, based on Latin Business Chronicle's Latin Globalization Index.

In the energy sector, Chevron is investing in Panama's future with a key strategic infrastructure project and community engagement...

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