These three innovative high-profile companies have accumulated an estimated initial investment of $11.3 million.
Three multinationals, including Anheuser-Busch Inbev, the world’s largest beer manufacturer, will establish their operations in Panama, according to the Ministry of Commerce (MICI).
On Tuesday, the Commission of Headquarters of Multinational Companies (SEM), chaired by the Deputy Minister of Foreign Trade, Carlos Hoyos, approved the establishment of Anheuser-Busch Inbev and Geodata Specialized Services, with joint investments amounting to $10.6 million. These multinationals, originating in Belgium and Ireland, respectively, join the hotel group Sandals Resorts International of Jamaica, which joined the regime last July.
These three innovative high-profile companies have accumulated an estimated initial investment of $11.3 million.
Anheuser-Busch Inbev and Specialized Services of Geodata, which specializes in providing services for the energy industry with a focus on oil and gas exploration, drilling and production, obtained their licenses by complying with the requirements established by Law 41 of 24 August 2007.
Deputy Minister Hoyos highlighted the case of Philips, a multinational company that also operates in Panama under the SEM regime, as a clear example of the positive impact of these companies on the generation of employment in the country. Philips, one of the leading companies in his sector worldwide, has generated 813 jobs in Panama, 70% of which are occupied by Panamanians in high-paying positions, demonstrating a firm commitment to the inclusion and development of local talent.
The MICI has supported the “My First Employment” programme by including it in the SEMs, with the aim of enabling young people to gain experience in global companies and improve their employability and professional development.
In this regard, the commissioners of the Commission for Multinational Enterprise Headquarters in the sector have stressed the importance of continuing to create jobs for Panamans, reaffirming their commitment to the implementation of policies and programmes that prioritize the recruitment of local labour.
The SEM regime in Panama offers multinationals a series of key benefits, including tax exemptions, customs facilities, and simplification of administrative procedures.
Since its inception, the SEM regime has been one of the most successful in the country, attracting more than 180 multinationals and generating approximately $1.33 billion in investments.
This article has been translated after first appearing in PanamaAmerica