  
More information of Panama - Panama's government is a Constitutional Democracy,(Republic of Panama)
Panama has a total area of 78,200 sq. kilometers. It's slightly smaller than South Carolina Panama's population is just over 3 millions. Panama has the Pacific Ocean to the south and the Caribbean Sea to the north. Panama is bordered by Costa Rica to the west and Colombia to the east Highest point is Volcan Baru at 3,475 meters (11,411 ft). Panama is divided into 9 provinces, Bocas del Toro, Chiriqui, Cocle Colon, Darien, Herrera, Los Santos, Panama, Veraguas and one territory, San Blas: Kuna Yala. Panama's currency is the Balboa and has been equally exchanged with the US dollar since 1904. The President and Chief of State in Panama is Ricardo Martinelli Berrocal. Panama's average coastal temperature is between 77 and 87 degrees Fahrenheit year around. Highland areas are cooler. Panama is only 2.5 hours from Miami. Entry requirements are a valid passport and a Panamanian tourist card Panama in located in Eastern Standard Time Panama strongly encourages foreign investment and development Panama ranked among the top four places in the world for an inexpensive retirement by International Living Magazine Full time live-in maid costs about $200 per month Colon Free Zone is located in Colon and is the largest free trade zone in the Western Hemisphere Panama has the second largest number of offshore-registered companies in the world Over 40 banking laws exist in Panama to protect the business nature of foreigners, such as banking privacy laws as well as foreign/local investor equality laws
Why Panama's Economy Is Still Growing Dear reader Just why are the world's leading experts—from the World Bank to the World Economic Forum to the Economist Intelligence Unit (EIU)—so confident about Panama's economy? They all say Panama has one of the strongest economies in the region, and that Panama is well-prepared to weather the global financial crisis. Just days ago the EIU cited Panama's many mega-projects as the main reason the economy will continue to grow. Here's a rundown of some of the mega-projects that will continue to fuel Panama's economy over the next few years: - The Other Big Dig: The $5.2 billion Panama Canal expansion project is recognized as the region's largest and most ambitious. It’s also the biggest project in Panama's history since the original Canal was built. Work is currently underway and will be completed by 2014. Until then, the project is creating jobs and attracting foreign investment.
- Panama Op-port-unities: Panama's major port operators are investing over $300 million to improve port infrastructure here. These include Panama Ports Company, which is expanding the Port of Balboa on Panama's Pacific coast, and Manzanillo International Terminal, which is investing in dock expansion on the Atlantic.
- Big New Refineries: Some major refinery projects have also been proposed by Occidental Petroleum and Plan Puebla-Panama. If approved these projects would total over $10 billion in investment. Details of the Occidental petroleum refinery, which would be built on the coast of Chiriqui, haven't been confirmed, but studies are underway and local sources say the refinery should begin operations in early 2012.
- Can You Hear Me Now? Panama's cellular service industry was monopolized by two companies—Movistar and Cable & Wireless—until December of this year. Last May the government granted 20-year concessions to Digicel, a company with branches in El Salvador, Honduras and other countries, and Mexican provider America Movil/Claro Panama. Now the companies are battling to set up new towers and offices around the country.
- Call Center Mania: Panama's call center industry is still going strong. The country offers attractive incentives for companies wishing to establish call centers here. Dell Computers was one of the first major companies to take advantage of the incentives, establishing a large operation in Panama a few years ago. National Asset Recovery Services (NARS), Language Line, and Sitel followed. Next in line is Hewlett-Packard—it plans to open a center employing some 1000 people in Panama in 2009.
- World's Biggest Development: Panama chose the UK’s London & Regional to head one of the biggest development deals in the world: the Area Economica Especial Panama-Pacifico (Panama-Pacific Special Economic Area, or AEEPP). The company is the master developer for the area, located in Howard, formerly a U.S. military air force base. Just weeks ago London & Regional broke ground on phase one of the project that will transform this area into a residential and business district the size of London.
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