The Panamanian unit of US PC manufacturer Dell (Nasdaq: DELL) will invest US$13mn to expand its operations, including erecting a new 5,000m2 building, the country's presidential website reported.
The investment will create 500 new jobs in Panama, with the long-term goal of reaching a total of 5,000 jobs provided by the company. Dell currently employs some 2,000 people in Panama.
According to Dell Panama general manager Martín Álvarez, Panama has been a strategic point of business for the company in the region. With the investment, the company plans to turn Panama into its Latin America operations hub and services center, from which it will be able to serve about 360,000 clients in the region.
Panamanian President Ricardo Martinelli said that Dell's operations generate US$60mn in the country each year and that he expects that figure to grow with the new investment. According to Martinelli, this shows that Panama is open to investment not only in the port sector, but also in technology as well.