Recognition to Caterpillar for creating jobs, knowledge centers and technology transfer in Panama
On June 3, 2011, the Ministry of Commerce and Industry of Panama (MICI) offered recognition to three multinationals in Panama for their contribution to Corporate Social Responsibility, the injection of foreign investment, and the creation of employment, knowledge centers and technology transfer. The Minister of MICI, Roberto Henríquez, acknowledged the performance of these companies that were established in Panama, under Act 41 of 2007 on Multinational Companies Headquarters (SEM). Henríquez said that “these companies believed in Panama and have confidence that what is being done here has a promising future”. Caterpillar was awarded for the creation of employment, knowledge centers and technology transfer. Carlos Caetano, District Manger for the Northern South America Region from the Americas Distribution Services, received the recognition on behalf of Caterpillar. The ceremony took place with the presence of government officials, multinational managers, executives and the local media. Since the implementation of Act 41, 51 multinationals have begun operations in Panama with a cumulative investment of USD 338,527,638 since 2007 and a has generated 746 direct jobs for national employees.