News

As Panama continues to lead the region into a high-tech future, Panama’s government is moving to create a strategic plan to increase investment in the science and technology industries.

The draft of a National Strategic Plan for Science, Technology, and Innovation aims to establish a framework for developing policies and resources to foster growth in these sectors over the next five years. The plan’s goal is to position Panama to face the challenges of the 21st century with public policies and effective solutions derived from research and scientific evidence, its promoters reported.

“The strategy is a national roadmap, built with the input of multiple stakeholders—public, private, academic, and civil society—that allows us to project, with clarity and responsibility, how to turn science, technology, and innovation into true engines of transformation for Panama,” said Juan Carlos Orillac, President of the Interinstitutional Council for Science, Technology, and Innovation.

For the real estate industry, this is exactly the type of news you want to hear. The technology industry provides a steady stream of high-quality renters and buyers, which is one of the reasons the Panama real estate market is unusually stable compared to the volatility in other areas. This type of forward thinking is exactly the type of program that will power the economy for the next generation and ensure the economy continues to diversify and grow.

Science and technology are still a relatively underdeveloped sector in Panama. The new plan sets out concrete steps for encouraging investment in the country’s knowledge base. The initiative focuses on 12 key programs and 22 strategic projects focused on six areas deemed critical to Panama’s future: Health, Food, Digitalization, Environment, Productive Transformation, and Social and Institutional Development.

The new plan also proposes actions to modernize scientific infrastructure, increase investment in research and development (R&D), foster technology transfer, promote intersectoral collaboration, and strengthen scientific culture across all sectors of society, according to coverage in El Capital Financero. The knowledge generation will focus on areas such as medicine, biotechnology, climate change resilience, renewable energy, and the circular economy, among others.

The implementation of the strategic plan will require the joint commitment of ministries, universities, research centers, the private sector, and civil society, Eduardo Ortega Barría, National Secretary of the National Secretariat of Science, Technology, and Innovation, told the publication.

The initiative will also support the development of Panamanian talent, creating jobs in a wide variety of scientific and technical fields.

“The implementation of [the strategic plan] is a continuous and adaptive process,” the director said.

The plan will now move forward for review, before submission to the Cabinet Council for approval and subsequent publication in the Official Gazette.