VOICES FROM THE ECONOMY SECTOR
Can you give us an overview of the latest PwC operations in Panama?
With offices in 158 countries and more than 250,000 people, we are among the leading professional services networks in the world. PwC has 70 years of presence in Central America and the Dominican Republic, a region we call PwC Interamericas. Panama was PwC's first office location in this territory, which brings together seven countries, eight offices, more than 1,000 professionals, and 32 partners that work toward our purpose of building trust in society and solving important problems. Over the years, our firm has grown and evolved, increasing the number of employees and services we offer.
Which are the main sectors that you work here in Panama?
PwC offers experienced and comprehensive help for a wide range of business needs, and help clients work smarter and reach their goals. At PwC Panama, we serve companies of all different types, sizes, industries, and sectors such as manufacturing, mining, transportation, banking, and insurance. The service sector is one of the main pillars of the Panamanian economy, which is why it is a focus for PwC. The middle market has the potential to create countless business opportunities, and we will continue to focus on this path, which we are convinced will help our business grow much more.
What are the advantages of operating in Panama?
There are several reasons to operate in Panama, one being the presence of almost 200 SEM companies. The presence of Johnson & Johnson, Procter & Gamble, and similar giants confirms the benefits of setting up shop here. These multinational companies are enjoying special regimes of zero taxation, along with the transaction benefits they have with foreign companies. Furthermore, we have clients such as Chevron, Norton Lilly, Grupo Melo, DHL, and Banitsmo and several other large clients; most of our clients are from the private sector. Tax management is our strongest service, and one based on absolute trust.
What are your main targets for 2019?
The main goal is to retain key personnel, and the second is our digital transformation. In fact, we have an internal strategy to develop our processes to deliver added value to our clients. In the UK, the Home Office automatically files VAT tax. This is the future, and we will, therefore, need to hire more people for this technological advancement. I see many opportunities in the financial institution market for 2019, with the banking industry and insurance market, for example. We are developing and certifying our team to add more value for our clients, especially in the consulting process.
What have been the highlights of your group over the past year?
After the sale of Semusa to Marsh, the worldwide insurance broker, the rest of the business units of the former Grupo Semusa evolved into Grupo Siuma. Faithful to our strong culture and corporate DNA, we designed a differentiated value proposition and committed to implement it impeccably. To do so, in 2018 Grupo Siuma consolidated our cluster of corporate services with a unique synergy that integrates finance, talent, and real estate consulting solutions under a promise of big-picture thinking, pledging to add value to our clients and society by fostering creativity and innovation among the experts who collaborate with us.
How are you remaining relevant in the market?
By adding technological tools, analyzing data, and attracting the best experts to our group. For example, in our real estate division we have accurate maps of the entire country as we geo-reference all properties, allowing us to create a footprint, for instance, of all supermarkets. In addition, our market research consultant advises clients by mapping their competitors and adding layers of demographic and traffic data of the relevant areas. In addition, with a software tool specially designed for us, we can provide average market prices instantly. Nobody else in Panama does this.
VOICES FROM THE ECONOMY SECTOR
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Spotlight Feature
Success in Sight
ith the election of the new government, Panama's recovery has begun, and the general consensus is that the country is ready to grow to new heights. The new policies, initiatives, and projects being undertaken across the country, in addition to growing FDI levels, have all proven to be extremely encouraging, and businesses across sectors have much reason to be positive and contribute to the country's economic rebirth.
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