The Panama-Pacific Special Economic Area (Howard)
The Panama-Pacific Special Economic Area, from hereon referred as Howard, for it was a former Air Base of the US Military, has been designed with the support of the World Bank, through the Int. Financial Corporation, and specialized consultants. Because of its location adjacent to the Canal, existing infrastructure, and special benefits granted, Howard enables international companies to offer their services to global markets.
Existing infrastructure includes: airports and hangar for cargo, a fiber optic ring of telecommunications with access to the main submarine fiber optic cables, office buildings, community installations and over 700 residential units.
Marketing studies reveal that the activities which could be generated from Howard are: with greatest potential, telecommunications and IT services, such as call centers; and on the other hand, operations which provide technical support and centers for global processing, manufacturing and high technology services, air cargo, aircraft maintenance and advance logistical services.
Colon Free Zone
The Colon Free Zone is today more than just a traditional free zone; it is a Global Logistic Center for the world. Its annual commercial transactions generate US$11,000 million in imports and exports. The success of the Colon Free Zone is reflected in the more than 400 hectares and 1,800 established companies and 250,000 visitors a year.
The existence of the International Financial Center, the efficient maritime infrastructure, the free circulation of the US$ Dollar as legal tender, a great many fiscal incentives under an exceptional tax free system on sales or manufactures and on imports and re-exportations to foreign countries, tax exemption on income generated abroad, and a sophisticated communication network are some of the factors that contribute to facilitate the operations from the Colon Free Zone and which makes it an ideal center for International Commerce.
