EENI-Business School

Doing Business in Panama

Syllabus of the Subject: Doing Business in Panama. Panama Canal.

  1. Introduction to the Republic of Panama (Central America)
  2. Panamanian Economy
  3. International Trade of Panama
  4. Doing Business in Panama City
  5. Panama Canal
  6. Cases study:
    1. City of Knowledge
    2. Colon Free Zone
    3. Set-up a Company in Panama
  7. Clusters of Investment:
    1. Services
    2. Tourism
    3. Logistics
    4. Information Technologies
    5. Energy
    6. Agribusiness
  8. Investing in Panama
  9. Legal Framework for foreign investment (FDI) in Panama
  10. Foreign Companies in Panama
  11. Introduction to Spanish
  12. Access to the Panamanian Market
  13. Business Plan for Panama

The purposes of the subject “Foreign Trade and Doing Business in the Republic of Panama” are the following:

  1. To analyse the Panamanian economy and foreign trade
  2. To evaluate the business opportunities in the Republic of Panama
  3. To explore Panama's trade relations with the country of the student
  4. To know Panama's Free Trade Agreements
  5. To understand the role of the Panama Canal and the Colon Free Zone
  6. To develop a business plan for the Panamanian Market
The Subject “Doing Business in Panama” is part of the following programs:
  1. Professional Master's Programs (e-learning): International Business, America, Pacific
  2. Doctorate in Business in America
  3. Course: Central America

Course learning materials in English or Spanish Panamá French Panama Portuguese Panamá

  1. Credits of the subject “Foreign Trade and Doing Business in Panama”: 1 ECTS Credits
  2. Duration: one week

Sample of the subject - Doing Business in Panama
Colon Free Zone

Description of the Subject: Doing Business in Panama.

The Republic of Panama (America):

  1. Capital: Panama City
  2. Panamanian Population: 4 millions of people
  3. Area: 75,517 square kilometres
  4. Frontiers of Panama: Costa Rica and Colombia
  5. Panamanian official language: Spanish
  6. Panama became independent from Spain in 1821
  7. Abolition of the Slavery in Panama: 1824
  8. African Diaspora in Panama: 0.4 million of people (14% of the Panamanian population)

Main religion in Panama: Christianity - Catholicism (3 million) and Protestants

Panama belongs to the Christian Civilisation - Latin American area

Panama City Business

Panamanian Economy.

  1. Main pillars of the Panamanian economy are the Panama Canal, banking, and financial services and the Colon Free Trade Zone (the biggest duty-free zone in the Americas)
  2. The Balboa and the US Dollar (USD) are the official currencies of Panama
  3. Panama has no central Bank; it does not have a risk of devaluations, having total freedom to transfer capitals
  4. The International Banking centre of Panama, with more than seventy international banks, is governed by the principles of the Basel Convention
  5. The City of Knowledge is an international complex for education, R & D, organised to promote and facilitate the synergy between the universities, scientific research centres, companies of the new economy and international organisations
  6. In the Republic of Panama, they were installed five submarine fibre optic cables communicating North America and South America and the Caribbean with the world, making it the ideal location for telecommunications companies and data centres. Leading companies (MCI, Cable & Wireless and Movistar) have been implemented in Panama
  7. The Republic of Panama has been selected by largest multinational companies such as Samsung Electronics, Inc., DHL, DELL (Call centre), Hutchinson Port Holding Group, HSBC, BICSA, Scotiabank, Assicurazioni Generali, or American Life Insurance Company as headquarters for their regional operations
  8. Main international organisations such as UNICEF, the United Nations Development Programme, the Organisation of American States, the Spanish International Cooperation Agency (AECI) and Bladex, among others, have chosen Panama to establish their regional headquarters

International Trade of Panama.

  1. The Colon Free Zone is the second largest duty-free Trade Zone in the World (2,500 enterprises, 27.347 employments, 16.160 million dollars in imports and re-exports (international trade)
  2. Exports of Panama: 821 million dollars
  3. Main Panamanian export products are salmon, tuna, beef, watermelon, shrimp, and pineapples
  4. Top export partners of Panama (as % of the total export value): the United States 42%, the People's Republic of China and Taiwan 5.3%, Costa Rica 7.3%, Sweden 5.4%, the Netherlands 6.5%, and Spain 6.2%.
  5. Top import partners of Panama: the United States 29%, Costa Rica 5.2%, Mexico 4.5%, China 4.2%, and Japan 3.6%.

Doing Business in Panama

Panama Canal.

  1. The Republic of Panama has a privileged geostrategic position that makes it one of the largest logistics centres in the World; with the Panama Canal as a major axis, the Panama Canal over 190 million metric tonnes of cargo (container, Bulk) are transported, serving more than 120 maritime routes to eighty countries
  2. 80 kilometres between the Pacific and Atlantic Oceans, 8 to 10 hours to transit
  3. 14,000 ships pass through the Panama Canal every year
  4. The activities of the international transport through the Panama Canal representing 5% of the global foreign trade
  5. The increase in foreign trade, especially between Asia and the United States, continues to have a significant impact on the demand for services
  6. The Panama Canal seeks to increase both the number of Panamax transits and the UMS tonnage (Tonnage System Channel)
  7. The Expansion project of the Panama Canal (1 billion dollars) offers significant business opportunities for companies around the world

Central American Integration System (SICA)

Panama's Free Trade Agreements (FTA) and Market Access:

  1. Central American Integration System (SICA)
  2. Central American Common Market - Integrated with the SICA -
  3. Panama has Free Trade Agreements (FTA) with the United States, Canada, Central America, Chile, El Salvador, Taiwan, Singapore, Guatemala, Honduras, Nicaragua, European Union, Andean Community, European Free Trade Association and Costa Rica
  4. Association of Caribbean States (ACS)
  5. Mesoamerica Project

Central American Common Market

Samples - Business in Panama

European Union-Central America Free Trade Agreement (FTA)

Panama-Canada Free Trade Agreement (FTA)

EFTA-Central America Free Trade Agreement (FTA)

Central America-Panama Free Trade Agreement (FTA)

Taiwan-Panama Free Trade Agreement (FTA)

Mesoamerica trade

Panama-Singapore Free Trade Agreement (FTA)

United States-Panama Free Trade Agreement (FTA)

Panama-Andean Community Agreement

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