Relevant Success Cases

MULTINATIONAL STORIES

ManpowerGroup

With over 45 years of service in the region of Mexico, the Caribbean and Central America, ManpowerGroup, with headquarters in the United States, is the world leader in labor solutions, offering human capital innovative services.

In 2012, ManpowerGroup expanded its range of operations opening their second business unit in Panama City, focused on hiring talent qualified in different areas: construction, finances, IT, sales and transportation.

The third business unit was inaugurated in Panamá Pacífico in 2015, with the purpose of recruiting and hiring talent in areas of IT, accounting, finance and engineering.

Testimonials

“Panama will undoubtedly continue to grow in the coming years. For its economic model to be sustainable in time, it will be necessary to continue working in training its domestic labor force and continue creating learning synergies with the foreign talent. This will be the key to success”

Alberto Alesi, Regional Director for the Caribbean and Central America
ManpowerGroup

Dell

Dell, one of the largest technological corporations in the world with headquarters in the United States, began operations in Panama in 2003, launching Customer Service with 500 employees.

In 2014, Dell inaugurated a training center in the Universidad Tecnológica de Panamá (UTP) with an investment of over US$ 30.00 to promote the joint development of study and research in the field of technology and allow the exchange of information and advances between the university and the company.

In 2016, Dell invested US$ 1.2 million, developing a global command center dedicated to the region of Latin America and the Caribbean, hiring more than 2,300 people.

Testimonials

“It’s a country that offers us good connectivity. The geographic location is fabulous because we are close to everywhere. Another important factor for us is human resources. We have excellent quality in this regard.”

Gustavi Ripoll, General Manager
Dell Panama

Halliburton

Halliburton, with headquarters in the United States, is one of the biggest companies in the world dedicated to providing services to oil fields, operating in more than 80 countries.

Testimonials

“Halliburton established its Latin American regional operations in Panama in 2009 and opened its Business Support Center in the country in 2010. In 2012, Halliburton expanded even further opening their Human Resources Employee Center. Since then, Halliburton has established a transnational center in Panama and is currently exploring opportunities to expand its operations in various sectors within Panama. The key reasons behind Halliburton’s continued investment in Panama include its strategic geographic location and the Multinational Companies Headquarters Law (SEM) which helps to make Panama a profitable location. Additionally, Panama offers good quality of life and school options, which makes the country favorable both for Halliburton and its employees”

Francisco Tarazona, Vice-president
Halliburton Latin America

Adidas

The German company Adidas is Europe’s largest sportswear manufacturer and second largest in the world. Adidas Latin America has its headquarters in the MIT Logistics Park and currently employs more than 50 people helping clients in all of Latin America.

Testimonials

“The key factors that influence our investment in Panama include its economic stability, its strategic geographic location and its excellent connectivity with other Latin American countries. Additionally, the incorporation of Adidas in the Law of Multinational Companies Headquarters (SEM) in 2010, has enabled the regional offices of Adidas Latin America to continue improving the business and strengthening its organizational structure, hiring the most talented executives in Panama and the world”

Marco Antonio Tejeira, General Manager for Central America and the Caribbean
Adidas

DAMCO

With headquarters in Denmark, Damco, which forms part of Maersk Group, is one of the main third party logistics suppliers in the world, specialized in delivering personalized solutions in cargo transportation and supply chain.

Testimonials

“Panama’s tax conditions, including the use of the US dollar and the Multinational Companies Headquarters Law, together with its excellent connectivity, greater personal safety and the generalized use of English, we knew Panama was an ideal place”

Ricardo Herrero, Financial Director, Latin America and the Caribbean
DAMCO

CEVA

Ceva, Dutch intermediary leader of supply chain managing companies, designs and implements excellent industrial solutions both in merchandise managing and logistics contracts. Ceva has operations in Colon and Panama City, offering contractual logistics, air, land and sea services and solutions for the supply chain. In February 2014, Ceva invested US$ 113.2 million in Panama’s capital in a new 4,400 mt2 facility located only 5 minutes from Tocumen International Airport.

Testimonials

“The investment in this new installation shows Ceva´s commitment with growth in Central America, where our office network offers clients totally integrated services”

Senior Vice-president, Mexico and Central America
CEVA

Logistics Services Panama

LSP is part of the 3PL group in Panama, focused on added value services for their regional clients and located in the Colon Free Zone and Panamá Pacífico. It serves more than 20 countries in Latin America, with global clients like 3M, Payless Shoes, HP and ABB. The group also manages Bayer, Sony, Pfizer, Bosch and J&J among many others, and is also a strategic storage partner of DHL in Panama. LSP has educational associations with several first-class universities such as MIT, University of Arkansas and Georgia Tech.

LSP offers its clients:

Speed: Locations close to ports and airports enable moving the merchandise as quickly as the client’s needs. From unit pick-up to port crossing operations.

Efficiency: All the paperwork, metrics, reports and processes are managed with complete online visibility, which allows managing the operations for the clients remotely, which adds great added value to their supply chain.

Safety: BASC/AEO/ISO offer safe and certified standard processes.

DHL

Belongs to one of the largest mail and logistics companies in the world, Deutsche Post DHL Group. Present in more than 220 countries worldwide. Its labor force exceeds 340,000 employees worldwide.

MAY 2008: Invested US$ 4.5 million in the Panama City in the largest industrial center in Central America.

JULY 2009: Investment of US$30 million in the expansion of their facility in the Colon Free Zone.

MARCH 2010: Invested US$ 84.2 million in Panama in a clinical study warehouse.

MAY 2014: Investment of US$2.5 million in Panama to expand their logistics center.

JULY 2014: Invested US$ 204.10 million in a new thermal site in Panama City.

Testimonials

“DHL has been present in Panama for over three decades and currently employs more than 1,500 people. Panama’s excellent connectivity, as well as its strategic location, are key factors behind DHL’s ongoing investment”

Kendall Vásquez, Marketing and Sales Director
International Delivery, DHL

3M

3M, an American multinational company with headquarters in Maplewood (Minnesota), is specialized in all technology areas – from research and development to high technology production and advanced products.

Currently, 3M has offices in more than 70 countries, employs more than 90,000 employees worldwide, and has annual sales that exceed US$30 billion.

The multinational’s initial investment, which additionally is on the Fortune 500 list, based itself on creating a light manufacturing installation in Panamá Pacífico for its industrial automotive division in 2008. Said investment involved a disbursement of US$5 million and hiring around 15 people.

In 2013, 3M inaugurated a new 12,000 mt2 headquarters, a distribution center and a manufacturing center in Panamá Pacífico, generating an overall investment of US$52 million. Among the goods manufactured in Panama are consumption products, medicinal and automobiles, and these are exported to markets in North and South America, in addition to Asia.

Currently, 3M employs more than 250 people in Panama – a number that has multiplied six times since 2012 and that groups 3M’s manufacturing operations in Panama, in addition to its regional headquarters. More than a third of 3M’s staff is dedicated to manufacturing.

Being able to benefit from Panama’s exceptional logistics capacity was a determining factor for 3M to decide to invest in Panama’s manufacturing sector. The possibility of being closer to their clients and reducing the supply chain, being able to quickly import raw materials and export the final product were indications of how Panama’s logistics potential can improve manufacturing operations.

Recently, 3M has relocated its equipping production lines for the automotive sector from other subsidiaries toward Panama in order to have greater proximity between its assembly chain and its destination markets in Latin America.

Monjasa

Monjasa is a company with headquarters in Denmark whose main business consists in the reselling and physical supply of marine fuels, oil terminal operations, agency services and ship-owning activities on a global level. Monjasa has offices in all the main time zones and currently employs between 20 and 25 people in Panama.

Testimonials

“There are three key reasons behind Monjasa’s investment in Panama. The high level of safety, both financial and personal, provided by the country compared to other Latin American countries is a significant factor. Easy access to a foreign labor force, which is crucial to our business in Panama, together with Panama’s strategic geographic location, constitute other factors behind our investment decision”

Rasmus Jacobsen, General Director
Monjasa Americas

Special Investment Regimes

SUCCESS CASES

“There are three key reasons behind Monjasa’s investment in Panama. The high level of safety, both financial and personal, provided by the country compared to other Latin American countries is a significant factor. Easy access to a foreign labor force, which is crucial to our business in Panama, together with Panama’s strategic geographic location, constitute other factors behind our investment decision”

Rasmus Jacobsen, General Director
Monjasa Americas

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