The Colon Free Zone, with over 2,500 companies operating within its 450 hectares, is not only the world's biggest free zone after Hong Kong, but the best geographically located, and therefore the one with the best, most efficient and fastest distribution facilities. It is served by five major ports - all within a few kilometers.
The path of commerce is also smoothed by the fact that the US dollar is legal tender. The Free Zone handles more than US$14 billion in imports and re-exports each year. It employs more than 27,000 people with the best-trained bilingual work force in Central America.
The Zone hosts 250,000 buyers, business people and tourists each year. Major imports are from Hong Kong, China, Taiwan, United States and Japan. Major markets include Venezuela, Colombia, Panamá, Guatemala, Ecuador and other countries in Central and South America.
Deposits made in the Banking Center of Panama from the Colon Free Zone last year (2007) were US$578 million. Credit from the Banking Center represented approximately US$1,024 million.
Strict measures to thwart money laundering and brand name piracy are in place. A special copyright office was created in August 1997.
