Panama Wants to Attract Japanese Multinationals

The investment agency is trying to persuade Japanese corporations to establish sites in Panama, having already convinced the company Tadano, manufacturer of hydraulic cranes.

Tuesday, April 24, 2012

Last November, the Bureau of Investment Attraction and Export Promotion in Panama (PROINVEX) moved the conference "Invest Panama" to Tokyo, in order to turn the attention of Japanese corporations towards the country.

The decision has born its first fruit in that Tadano Ltd., established in 1948,one of the largest manufacturers of hydraulic cranes and a wide range of products, from trucks to loaders and aerial platforms related teams, decided to establish its headquarters for Latin America in Panama.

The government hopes that other Japanese companies will follow the example of Tadano. According to the Ministry of Commerce and Industry of Panama (MTI), there are 69 SEM (Multinational Corporations) in the country, including 19 from the U.S. reported Capital.com.pa.

Recognizing some of Panama’s advantages, the associate director of external relations at Procter & Gamble (P & G), Alejandra Cobb, suggested:

"You should continue working on improving the availability of trained personnel in order to cope with future growth effectively," concluded Cobb.

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