Panama continues to attract multinational companies and this article from La Prensa tells us who they are.
Machine translated from La Prensa
Three new multinational companies have chosen Panama to establish their regional headquarters. It is Germany's Bosch and Kuehne + Nagel and Spanish Puig.
Bosch provides services and technology in sectors such as automotive, consumer goods and industry. With 300 subsidiaries and a presence in over 60 countries, the company posted sales in 2009 by 53 billion dollars.
Kuehne + Nagel is a logistics service provider. It has over 900 offices in 100 countries and 55 000 employees.
Since late last year the company has its management in Panama for Central America, staying in Buenos Aires headquarters for the entire region. A month ago he received a license from the Panamanian government as regional headquarters of multinational companies.
In addition to making decisions for America, the company also has to Panama as a distribution center for the company for the entire region.
"We chose Panama for its location, opening connections, by size of business," said Ricardo Ortiz, manager of Kuehne + Nagel Sales of America, which advances the idea of the company's medium term is to expand in the country, distribution activities.
The latest company to join the list of multinational companies in Panama has been the Spanish Puig, firm in the industry of perfumes, cosmetics and fashion brands such as Carolina Herrera, Nina Ricci, Paco Rabanne and Prada, said the Ministry of Commerce and Industries a statement.
The company, based in Barcelona, annual revenues of 300 million billion dollars in 2009 and generates 17% of its sales in Latin America.
With these three companies and are 43 multinationals have set up their regional headquarters in Panama under the umbrella of Act 41 of 2007, which provides tax benefits, immigration and labor to multinationals. In addition to the local employment generated and the image as a business platform that projects, these companies often move executives to the country, people of high purchasing power who buy or rent apartments and become, somehow, the driving forces the local economy.
Procter & Gamble, Maersk, Sinopec, Cemex, BMW, Nestle, Adidas, Caterpillar and Sanofi Aventis are among the multinationals that have their regional headquarters in Panama.
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