Itochu Corporation and Migor Sacifia join the group of more than 180 multinationals that have chosen Panama as the headquarters for their regional operations
Itochu Corporation and Migor Sacifia join the group of more than 180 multinationals that have chosen Panama as the headquarters for their regional operations
The two companies that are joining this process of economic expansion are Itochu Corporation, one of the largest business conglomerates in Japan, dedicated to the national and international trade of a wide range of products, including textiles, machinery, metals, minerals, energy and chemical products, and Migor Sacifia, originally from Argentina, specialized in the production of electronic, mobile and automotive components, in addition to exporting agricultural products.
Source: Destino Panamá
Panama continues to consolidate itself as a key destination for foreign investment with the arrival of two new multinationals, which have received approval from the Commission of Headquarters of Multinational Companies (SEM) to establish their operations in the country.
The initial investments of both companies total six million dollars, which will have a significant impact on the national economy, generating new employment opportunities and consolidating Panama's position as an attractive hub for international investors.
With their arrival, Itochu Corporation and Migor Sacifia join the group of more than 180 multinationals that have chosen Panama as the headquarters for their regional operations.
Between July and November 2024, a total of five new companies have been established in the country, complying with the requirements established by Law 41 of August 24, 2007, which regulates the SEM regime, with an initial investment estimated at 17.3 million dollars.
For the Minister of Commerce and Industry, Julio Moltó, the arrival of these two companies reinforces Panama's commitment to attracting global investments, contributing to economic diversification and the development of key sectors such as technology, international trade and manufacturing.
“The consolidation of Panama as a strategic center for multinationals continues to advance in a solid manner, with a highly promising future,” said the Vice Minister of Foreign Trade, Carlos Hoyos, who chaired the meeting of the Commission of Headquarters of Multinational Companies (SEM).
The SEM regime in Panama, which offers attractive competitive advantages for multinationals at a global level, continues to be a key factor in attracting high-profile investors.
Since its creation, the SEM regime has been one of the most successful in the region, generating a total of 1.3 billion dollars in investments and more than 8 thousand jobs created.