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    Panama 507

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    Maria
    Republic of Panama is located in Central America with a population of over 3 million people as of 2008. Panama City is the capital and largest city, situated along the Pacific coast in a style resembling Miami. Spanish is the official language and the U.S. dollar is used as legal tender, alongside the Balboa. Panama has a tropical climate with high humidity and frequent rain.

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    Panama 507

    Uploaded by

    Maria
    115 views16 pages
    Republic of Panama is located in Central America with a population of over 3 million people as of 2008. Panama City is the capital and largest city, situated along the Pacific coast in a style resembling Miami. Spanish is the official language and the U.S. dollar is used as legal tender, alongside the Balboa. Panama has a tropical climate with high humidity and frequent rain.

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    How to do business in Panama

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    Republic of Panama is located in Central America with a population of over 3 million people as of 2008. Panama City is the capital and largest city, situated along the Pacific coast in a style resembling Miami. Spanish is the official language and the U.S. dollar is used as legal tender, alongside the Balboa. Panama has a tropical climate with high humidity and frequent rain.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    115 views16 pages

    Panama 507

    Uploaded by

    Maria
    Republic of Panama is located in Central America with a population of over 3 million people as of 2008. Panama City is the capital and largest city, situated along the Pacific coast in a style resembling Miami. Spanish is the official language and the U.S. dollar is used as legal tender, alongside the Balboa. Panama has a tropical climate with high humidity and frequent rain.

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    Republic of Panama

    Capital: Panama City


    Population: 3,292,693 as of July 2008*
    Official Language: Spanish
    Currency: Balboa (B/.) (U.S. Dollar in use as Legal Tender since 1904)
    Gov. Type: Constitutional Democracy
    Panama City
    PERSONAL INTRODUCTIONS

    Situated along the Pacific Coast,


    Panama City is modern and
    resembles Miami in many ways.
    Business Attire

    Conservative Style Casual Style


    Panama’s Holidays
    1 Jan New Year's Day
    9 Jan* National Martyrs' Day
    February: “Carnivals” ( 5 days in February
    scheduled 1 year prior).
    21 Mar Good Friday
    1 May Labor Day
    15 Aug Old Panama City Day ( Observed in
    Panama City only)
    2 Nov Difuntos Day
    3 Nov Independence Day from Colombia
    4 Nov Flag Day
    5 Nov Independence Day ( Observed in
    Colón City only)
    10 Nov First Call for Independence from
    Spain in Los Santos Province
    28 Nov* Independence Day from Spain
    8 Dec Mothers' Day
    25 Dec Christmas Day

     
     
    Greetings and Business Cards Exchange 

    -Handshakes both Men and Women.
    -Business cards in Spanish or English
    - Exchange cards when introduced.
    -When seating, stand up when introduced 
    to someone.
    -Senior officials and the elderly are given 
    preferential treatment.
    -Address by Title and last name. (e.g. 
    Licenciado Perez, Señora Garcia)
    Business Card Example
    Business Meeting Seating
    Counter Party

    Other Party
    Communication Style

    -Conversations begin with small talks.

    -Avoid embarrassment, don’t disagree or criticize in public.

    -Personal relationships are everything.


    -Group oriented society.

    -American gestures and insults widely understood.

    -Nicknames are commonly used


    Business Negotiation

     Meeting usually at Offices or at Lunch


    in Restaurants.
     Contract negotiations proceed slow.
     Business conducted among friends.
     Develop higher trust.
     Emphasize on the personal
    compatibility of the two companies.
     Status conscious, should bring high
    level management on team.
     Women should remark they are part
    of a business team.
    Punctuality & Hours
    - Punctuality not often practiced by Panamanians.
    - Visitors are expected to be on time for meetings.

    Business hours
    Monday thru Friday From 8:00 am to 6:00 pm
    Retail shops from 9:00 am to 7:00 pm and on Saturdays until 
    8:00 pm
    Most business are closed Sundays

    Banking hours
    Monday thru Friday except Holidays from 8:00 am to  3:00 pm

    Government hours
    Monday thru Friday except Holidays from 
    8:00 am to Noon and 12:30pm to 4:30 pm

    Lunch times
    Usually range between 11:30 am to 1:30pm
    Dining
    -Usually at the best Restaurants or Hotels.
    -Invite your spouse.
    -Good conversation topics: Sports, family, 
    cultural local events.
    -Avoid talking about the Panama Canal 
    Zone occupation by The United States.

    Entertainment
    - Drinking in social setting is OK.

    -Smoking prohibited in government buildings 
    and all public establishments.
    - Dress should be casual, avoid heavy jewelry.
    -Be ready to accept invitations to local venues. 
    Panamanians like to Party!
    Food and Drinks

    Typical Panamanian Food International Food
    Useful Information
    CLIMATE
    Tropical climate. Humidity is very
    high. Rains a lot so, Don’t forget
    your umbrella!

    COMMUNICATIONS
    Telecommunications are first-class
    and direct-dial service to anywhere
    in the world is available.
    \ENTRYREQUIREMENTS
    A valid passport is needed to enter.

    DEPARTURE TAX
    A US$20 departure tax is charged

    TIMEZONE
    Panama is in the Eastern time zone.
    Does not observe daylight savings time.

    TIPPING
    A tip of 10 to 15% is common in Panama.
    Some restaurants include the tip in the bill so check with management before tipping. 
    Gatun Locks,
    Colon, Panam
    Mira Flores Locks, 
    Panama City
    Presented by:
    Maria E. Lugo De Frias

    Panama City

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