Panama’s current and planned public investment in productive infrastructure is one of the highest in the Region and is on a par with East Asian economies, including the ongoing construction of a subway in Panama City. Another major project is the still expanding Tocumen International Airport, presently undergoing a remodeling process in order to offer a comfortable and safe atmosphere to all travelers who visit Panama. From the airport, Copa Airlines operates its hub of the Americas, which offer more than 4 destinations to 25 countries, with excellent connections; having three daily flights to the most important cities of Latin America. The Tocumen Airport is a sea level airport that is near the sea ports of the Panama Canal, and has two runways; something very rare in the region. COPA is not the only airline that is using the airport as a hub; some European airlines are starting to use the Tocumen Airport as important destinations for their flights, including KLM and Air France. These factors contributed to further lowering of unemployment rates from 4.6% in 2012 to 4.1% in 2013 respectively.
|Panama City, by Juliette Passer|
Panama is an interesting and potentially profitable jurisdiction for licensing agreements and joint ventures as well as routine commercial operations for international companies.
|Cinta Costera, Panama City by Juliette Passer|
For this reason, Panama has been chosen by many multinational companies, such as Samsung Electronics Inc, DHL, DELL, Procter & Gamble and Caterpillar, Hutchinson Port Holding Group, BICSA, SCOTIABANK, Assicurazioni Generali, American Life Insurance Comprany and many more, as main office for their regional operations. In addition, some of the most recognized International Organizations, such as the United Nations Children0s Fund (UNICEF), United Nationes Development Programme (UNDP), Organization of American States (OAS), the Spanish Agency for International Cooperation (AECI, being its acronym in Spanish) BLADEX (Latin American Export Bank), among others, have chosen Panama for establishing their regional operations.