The Ministry of Commerce and Industry (MICI) reported that the Multinational Company Headquarters Licensing Commission (SEM) approved the establishment of two new companies – one Colombian and the other Panamanian – which in an initial stage means an investment of almost two million dollars, all while generating local employment.
We must remember that Law No. 41 of August 24, 2007 -and its reforms- has the objective of “attracting and promoting investments, the generation of jobs and the transfer of technologies and knowledge, as well as to make the Republic of Panama more competitive in the global economy through the optimal use of its geographical position, its physical infrastructure, and international services”, as defined by the office itself.
With a series of tax, labor, immigration, and customs benefits, more than 170 companies have accepted the law in sectors as important as insurance services, pharmaceutical research, production, telecommunications, mass consumption, and financial services, among others.
By the end of 2021, SEM companies contributed $37.8 million in investments to the country and created more than 400 jobs. In 15 years, the Multinational Company Headquarters regime has generated an investment of close to 8 billion dollars and nearly 5,500 jobs.
