The Panamanian economy has been expanding exponentially in recent years: and the government has reported rates of approximately 8.5 per cent growth per annum. With such strong economic expansion going on, it is no accident that there are more and more multinational and transnational companies that are shifting there and opening up offices in Panama and trade in the country.
One of the things that has been attracting international investors to the country is that the banking system there is strong and has not suffered any of the collapses that have been seen in some other Latin countries in the recent past as well as in North America and European countries too.
The canal is also under construction with massive expansions taking place and increasing the need for supplies and personnel and expertise from companies around the world. With the expansions also comes the increased ability for the canal to meet higher traffic demands. This expansion project is even bigger than the original canal project, which gives you an idea of the scale of the current project.
The government of the country has been working hard to remove barriers to entry into the markets there and allow businesses to set up and operate more easily than they have in the past. The government has also been working to reduce corruption in the country, which crippled the economy in the past. There are mechanisms being put into place that make the government much more efficient.
A further point to take into account when looking at why investment in the country is booming is that behind Hong Kong it is the largest free trade zone in the world. It also has the largest merchant navy and fleet internationally. There are also plans afoot to build five international airports in the country to facilitate the current demand and all for more flights to land and take off all the time.
On top of the infrastructure and benefits that are put into place by the government, there are other things that can attract people to the country. Some of these things are the geographic location, which is effectively a hub between North and South America and Central America and the Caribbean. As well as this it is not an earthquake danger area and it does not have hurricanes or other natural disasters that are countries in similar regions are prone to.
The economy is increasing drastically and there is more investment than ever before. There are so many compelling reasons for multinationals to be based in the country and lots of companies are only now beginning to understand the benefits to doing business there.
The economy has been growing at an impressive rate thanks to the work of the national government to take full advantage of the natural benefits the country has and the position that it can place itself on an international scale. With more and more multinational companies choosing to open up in Panama, it is likely that we will see the economy continue to grow well into the future.
One of the things that has been attracting international investors to the country is that the banking system there is strong and has not suffered any of the collapses that have been seen in some other Latin countries in the recent past as well as in North America and European countries too.
The canal is also under construction with massive expansions taking place and increasing the need for supplies and personnel and expertise from companies around the world. With the expansions also comes the increased ability for the canal to meet higher traffic demands. This expansion project is even bigger than the original canal project, which gives you an idea of the scale of the current project.
The government of the country has been working hard to remove barriers to entry into the markets there and allow businesses to set up and operate more easily than they have in the past. The government has also been working to reduce corruption in the country, which crippled the economy in the past. There are mechanisms being put into place that make the government much more efficient.
A further point to take into account when looking at why investment in the country is booming is that behind Hong Kong it is the largest free trade zone in the world. It also has the largest merchant navy and fleet internationally. There are also plans afoot to build five international airports in the country to facilitate the current demand and all for more flights to land and take off all the time.
On top of the infrastructure and benefits that are put into place by the government, there are other things that can attract people to the country. Some of these things are the geographic location, which is effectively a hub between North and South America and Central America and the Caribbean. As well as this it is not an earthquake danger area and it does not have hurricanes or other natural disasters that are countries in similar regions are prone to.
The economy is increasing drastically and there is more investment than ever before. There are so many compelling reasons for multinationals to be based in the country and lots of companies are only now beginning to understand the benefits to doing business there.
The economy has been growing at an impressive rate thanks to the work of the national government to take full advantage of the natural benefits the country has and the position that it can place itself on an international scale. With more and more multinational companies choosing to open up in Panama, it is likely that we will see the economy continue to grow well into the future.
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