Panama to open two new Tax Free Zones

10th February 2023

Panama President Laurentino Cortizo has authorised the establishment of two new tax free economic zones. The Tech Valley Free Zone and Panama Digital Gateway will be able to house up to 740 companies. Hyundai has already been confirmed as one of the new arrivals. The total investment is believed to be around US$111.5mn, creating at least 4,710 direct jobs. The Panama Digital Gateway will be strategically placed near the new Curie submarine cables and is designed for content providers such as Netflix, Amazon, Facebook and Cloudflare.

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