Great land, great water and plenty of sunlight! With average temperatures in the 80’s and ample rainfall, Panama’s climate is a perfect environment for cannabis production. Panama’s proximity to the equator provides a consistent 12 hours of sunlight year around, allowing for three or more crops per year. Consistent rainfall along with natural spring wells offer an abundant source of clean, pure water that cannabis plants love. The country’s Pacific coast is one of the few places in Latin America that still has pockets of high quality, virgin land, free of contaminants. Due to its lower cost of living, Panama provides access to high quality labor at lower price points than its North American competitors.
With one of the largest free trade zones in the world, Panama has been one of the fastest growing economies in the world, with an average annual growth rate of 4.6 percent over the last five years. The country maintains a stable government with foreign investor protection laws that grant foreign investors the same rights and freedoms as Panamanian citizens. Corporate tax rates are capped at 25%, along with numerous business and tax incentives for agricultural activities. With the Panama Canal as the centerpiece of the country’s economy, Panama is a global transportation hub with excellent infrastructure, facilitating export opportunities to virtually anywhere in the world.