PANAMA LOGISTIC HUB
The Republic of Panama is located in the southwest of Central America, bounded on the north by the Caribbean Sea, on the south by the Pacific Ocean, on the west by Costa Rica and on the east by Colombia. Companies interested in logistics can benefit from the privileged geographical position of Panama, being in the center of the Americas allows easy access to the entire world.
Panama recently inaugurated the expansion of the Panama Canal, allowing greater traffic of larger vessels, which has caused an increase in traffic passing through the Panama Canal. Due to this change, many ports have had to introduce improvements in their infrastructure to accommodate larger vessels.
The impressive port infrastructure has the main transport systems to move goods along both coasts, uniting the two oceans (Atlantic and Pacific).
Panama has 5 world class ports (3 in the Atlantic, 2 in the Pacific), Several Free Zones and the Tocumen International Airport, which has the # 1 position in air connectivity in the region. (There is also an expansion is estimated to end in 2020).
The economy is based on the American Dollar, which reduces the risk of currency fluctuations. In Panama there are more than 80 Local and International Banking Institutions, which makes it a financial link of the Americas and the Caribbean to the rest of the world. Aditionally, there are many legal, fiscal, immigration, labor and customs benefits for doing business in Panama.
Colon Free Zone
The Colon Free Zone, receives many visitors a year (more than 250,000) and is the second largest free zone in the world, and the largest in the western hemisphere. Due to its privileged geographical location, it is the main entrance of thousands of products from all continents to the Latin America.
The Colon Free Zone is free of all taxes and other fiscal contributions, be they national, provincial or any other order on merchandise or other goods that are marketed within the area.
In addition, it is free of all import taxes for the transfer of raw materials or semi-finished products to companies that are outside the Colon Free Zone and in national territory, for value-added processes for 6 months.
Tocumen Cargo Terminal
The Tocumen Cargo Terminal, located at the Tocumen International Airport, maintains 18 airlines that provide cargo service. Its high level of air connectivity is a benefit that attracts merchandise distribution activities in Latin America.
It currently serves as a port of import, export and transit of high value merchandise, such as technological equipment, pharmaceuticals, perishable products and other specialized merchandise that must be transported in the shortest possible time.
Historically, Panama is a key point in the airline industry of Latin America, nowadays this terminal mobilizes an average of 120 thousand tons of mail and air cargo annually.
The Tocumen International Airport is constantly evolving to meet the existing demand that the region needs, maximizing its resources to achieve a global logistic integration.