Reasons to choose Panama Pacifico for your Distribution Center
Panama Pacifico is a complex located on the previous Howard base, in the District of Arraiján. It began development in 2007, as an ambitious project of 10 billion dollars with a projection of 40 years to completion.
The reasons for choosing it as the place for your distribution center are multiple: in principle, the laws that regulate it were created with a business focus regarding legal and fiscal policies, customs, labor, and immigration.
Precisely, these laws are aimed at encouraging the free movement of goods, services and capital, all while time attracting investments and making Panama more competitive in the world market.
The companies that are established in this area have multiple benefits. Among the most notable are:
• Integrated Procedures System
• Special labor and migratory regulations
• Tax incentives (partial or total exemption from taxes)
• Investment Stability laws
• Unique Registry
• Higher Education Center
• Facilities such as banks, pharmacies, restaurants, gyms, among others.
What is Panama Pacifico?
Specifically, Panama Pacifico is an alliance between the Panamanian state and the London & Regional Panama company. The land of Panama Pacifico is 1,400 hectares.
With Law 41, the agency of the Panama Pacifico Special Economic Area was created, responsible for the administration of the areas assigned to Panama Pacifico. This area acts autonomously.
Thus, it is responsible not only for the administration but also for the appropriate use of the areas assigned to Panama Pacifico.
The objective of Law 41 is that all regulations and regulations that exist in the area encourage and ensure the flow of goods, services and capital to promote and attract investment.
The construction plan of Panama Pacifico has used modern style buildings and has required high energy efficiency standards. Efficiency of water consumption, the responsible use of materials and user focused innovations, are some of the characteristics of the Panama Pacifico environment.
Panama Pacifico was recently awarded as the Best Free Trade Zone of the Americas. Likewise, it has received multiple awards from the “Global Free Zones of the Year 2018” for its special characteristics.
The benefits of Panama Pacifico will be even greater as there are major infrastructure works underway. Among them is the expansión of the Pan-American Highway from four lanes to eight. Another important project that will soon be starting is the Fourth Bridge over the Panama Canal, considered the second largest infrastructure project in the country, after the expansion of the canal.