Entrepreneurial activity is an embedded and vibrant economic force in Panama. In the economic sphere, more than 70% of GDP is derived from services as opposed to the commodity-based economies of Panama’s neighbors. Opportunities for entrepreneurial activity are evident in the higher-growth sectors of financial services, logistics, telecommunications, retail, and tourism. A highly developed framework exists for business formation in Panama. This is complemented by a codified legal framework and enforceable protection of individual and property rights. The country also encourages and promotes women’s participation in the economic arena (the country’s first female head of state, President Mireya Moscoso, serves as a shining example). The most recent survey (1999) indicates that women represent 49.2% of the country’s professional workforce (with an especially high economic presence in the financial service, commerce and retail sectors).

Important Resources