Last week Panama π΅π¦ launched its National Agenda for #AdvancedTechnologies π», with the goal to attract foreign technology companies, train local talent and to position itself into global Semiconductor & AI π€ value chains.Β
Key elements of the strategy include $105 million in public funding, specialized workforce training, and a new center housing seven laboratories designed to draw design, assembly, testing, packaging, & logistics operations to the country. The agenda, launched in the presence of Panama’s President Mulino, brings together the National Artificial Intelligence Strategy & the National Semiconductor & Microelectronics Strategy under a single policy framework.
Selected Niches: Priority Areas
π‘Rather than pursuing chip manufacturing like many other nations, Panama’s approach concentrates on building competitive capabilities in select niches. Priority areas include integrated circuit design, printed circuit boards, assembly, testing, packaging, and specialized logistics.
Data shared during the launch estimate that artificial intelligence could contribute between $1.1 trillion and $1.7 trillion a year to Latin America’s economy by 2030. The global semiconductor market, worth approximately $630 billion in 2024, is projected to double by 2035.
John Neuffer, President & CEO of the U.S. Semiconductor Industry Association, pointed to Panama’s geographic position, logistics infrastructure, and connectivity as assets that could give it a strategic foothold in the industry. He added, though, that realizing this potential will depend on further developing human capital, particularly in engineering skills, English proficiency, & emerging technologies.
Panama was previously selected as one of seven countries worldwide and three in Latin America to collaborate with the United States in the semiconductor value chain.
π The strategy includes collaborations with universities such as Georgia Institute of Technology, Purdue University, the University of Arizona, and the The University of Texas at Austin.
Furthermore, Drake University, will launch a Bachelor’s degree in Data Analytics at the City of Knowledge, in line with the National Artificial Intelligence Strategy to aid in talent development. Mulino indicated that efforts would continue to bring additional universities from the United States and Europe into strengthening Panama’s higher education hub.
Panama’s advanced tech agenda offers business opportunities for foreign tech & logistics, education institutes & training providers, among others.
Key documents
Panama’s National AI Strategy
National Strategy for Semiconductors and Microelectronics – Panama
Press release by Panama’s Presidency