What is the City of Knowledge in Panama? Many people ask this question, and Kraemer & Kraemer has the answer. This innovation center, also known as La Ciudad del Saber in Spanish, promotes the sustainable development of business in Panama through collaboration among multinational corporations, academic institutions, and international organizations.
The City of Knowledge campus is located on the former Clayton military base. Since its establishment, it has become an epicenter of knowledge and technology, attracting many individuals seeking to promote innovative development.
City of Knowledge: Innovation Center
The City of Knowledge in Panama has established itself as a center for technological advancement, international collaboration, offering numerous free zone benefits. Located strategically in the Panama Free Zone, this innovation and knowledge center serves as a Panama hub, spanning 120 hectares with 21 hectares of green reserve and 22 hectares dedicated to sports parks, housing over 200 buildings that include institutions and companies specializing in technology and science, demonstrating how a space can transform for the benefit of education and growth.
It is worth noting that more than 81% of these organizations located within the City of Knowledge in Panama specialize in technology and science, and of the over 150 academic programs offered, 48% are provided by educational institutions from abroad.
Additionally, between 2018 and 2019, $70 million was allocated to innovative research and development in the City of Knowledge in Panama, resulting in a 253% increase in scientific productivity. Likewise, since 2015, the Startup Investment Program has provided $500,000 in seed capital to over 150 companies, fostering a strong business and academic ecosystem that promotes knowledge exchange and sustainable growth for City of Knowledge companies and businesses in Panama.
The Transition from Military Base to Innovation Center
The City of Knowledge in Panama was not always an innovation center. Originally, this area was known as the Clayton military base, used by the United States armed forces.
In 1995, the Panamanian government decided to repurpose these facilities to create a space dedicated to innovative development, becoming part of the country’s most important trade zone.
This transition not only brought benefits to companies but also gave rise to the City of Knowledge campus in Panama, which is now home to academic institutions, multinational corporations, and non-governmental organizations.
The Role of Multinational Corporations in the City of Knowledge
Now that you know what the City of Knowledge is, it’s important to recognize that multinational corporations play a crucial role in the success of the campus. Their presence brings significant investments that strengthen each logistics center in Panama. This flow of capital and resources not only encourages technological development and innovation but also creates a dynamic and collaborative environment that benefits both companies and the local community.
Additionally, the City of Knowledge in Panama hosts a notable international presence with offices of organizations like UNICEF, the Red Cross, and the United Nations Development Programme (UNDP). These entities contribute to a global network that supports the transfer of knowledge and best practices, further enriching the cooperative and progressive environment.
Benefits and Incentives for Businesses and Investors
City of Knowledge companies enjoy numerous free zone benefits, including tax exemptions and a networking-friendly environment. Additionally, the Panama Free Zone offers logistical facilities thanks to its proximity to the Panama Canal, making itself an ideal logistics hub for international business, attracting investors looking to seize these opportunities.
The City of Knowledge campus also stands out for its commitment to inclusion and diversity. Women make up 48% of the workforce, and initiatives for female and youth empowerment are promoted. This inclusive approach not only strengthens the social fabric, but also attracts investors interested in supporting equitable and sustainable work environments.
Advantages of The City of Knowledge as a Panama Free Zone
The City of Knowledge campus offers multiple advantages as a Panama Free Zone, including:
- Tax exemptions
- Investment incentives
- Being in the Panama hub
- High-tech facilities
- Strategic access
- Collaborative environment
- All-inclusive services
- Regulations adaptable to companies and professionals
Immigration Regulations and Labor Laws
As a Panama Free Zone, the City of Knowledge offers immigration regulations and labor laws designed to attract national and international talent. These measures facilitate the integration of professionals and academics from around the world into the campus’s work environment. For example, special visas and work permits are available for foreign employees of affiliated companies, making their transition and residency in the country easier.
Establish Your Company with Kraemer & Kraemer
Contact us today if you want to either know more about the available Services of City of Knowledge in Panama, establish your company there, or need advice on the benefits of the free trade zone.
Our team offers expert consulting and support in project management, immigration, and regulatory compliance, making sure your transition to the City of Knowledge campus in Panama is trouble-free.
