Earlier this month the Ministry of Commerce & Industry approved the establishment of two new Multinationals Headquarters (SEM) in Panama. The companies are AB InBev, the largest beer producer in the world (Belgium 🇧🇪) and Irish Energy Capital Management (Ireland 🇮🇪). They join Sandals Resorts International (Jamaica 🇯🇲), that was already approved last July.
The approval of their licenses took place in a meeting of the SEM licensing commission, chaired by Viceminister of Foreign Trade, Carlos Arturo Hoyos. The companies operate in the beverages, geoscientific engineering services and the hotel industry. They have made an initial investment of $11.3 million in Panama.
The thee new multinational headquarters bring the total number of active SEM companies to 182. Looking at the origins of the companies, most SEMs are from the United States, China, Switzerland, the Netherlands and the United Kingdom.
The Special Regime for the Establishment of Multinationals Corporation Headquarters (SEM) aims to attract foreign investment to Panama. It provides benefits in tax, labor, customs, and immigration. Reach out to us if you want to know more.