Doing business in Panama
Panama is the Hub of the Americas
Panama's strategic location at the crossroads of the Americas, coupled with its excellent connections and favorable business climate, has earned it the well-deserved nickname of the "Hub of the Americas." This central position has fostered a robust regional trade, logistics, and financial center, attracting numerous Dutch businesses to establish their regional headquarters in the country. Companies like Philips, Van Oord, Boskalis, and Witteveen & Bos are just a few examples of successful Dutch ventures that have chosen Panama as their base.
Why Panama?
Promising sectors and business opportunities
Agro-logistics, maritime, digital technology, water management, and the service sector are just some of the promising areas where Dutch companies can leverage their expertise and contribute to Panama's continued growth. To navigate these opportunities and unlock the full potential of the Panamanian market, Holland House Panama stands as a valuable resource and trusted partner for Dutch businesses.
Whether you are a seasoned multinational or a budding entrepreneur, Panama offers a dynamic and promising business environment. By connecting with Holland House Panama, you can gain access to expert guidance and support, paving the way for your success in this vibrant Central American hub
The country boasts the fastest-growing economy in Latin America, with projected growth of 8% in 2022, and holds the distinction of having the highest GDP per capita (PPP) in the region. This thriving economy presents exciting opportunities for Dutch businesses across various sectors.
Even for smaller companies seeking to expand their reach
The economy of Panama is based mainly on the services sector, which comprises almost 70% of Panama’s GDP. Services include transport (the Panama-Canal, the goverment’s most important revenue source), banking, commerce, the Colon Free Trade Zone, insurance, container ports, flagship registry and tourism.
The next largest sector is industry (29,2% of GDP) which is not very developed. The biggest chunk is related to mining. The country has the 9th largest copper ore reserve in the world, as well as large reserves of gold, manganese, and iron. Other large industrial activities are agroindustry, textiles, petroleum products, chemicals, paper and paper products.
Finally, the agriculture sector that forms only a 2,2% of GDP but employs 14% of the labour force. Panama produces mainly bananas and different watermelons, pineapples, different kinds of vegetables, maize, sugarcane, rice, coffee, cocoa beans, potatoes, coconuts, soybeans, timber, livestock and shrimp.
Panama’s economy is a fully dollarized with the US dollar being legal tender in the country (same value as the national currency Balboa). Unlike many other Latin-American economies, Panama is a high-income economy.
Economic Profile
Unlock your full potential in the Panamanian market
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