­Digicel says that it has launched operations in Panama — its third Central American market and 31st market world-wide — with an investment of US$350 million. Digicel now offers seamless mobile telecommunication services across Central America, with operations to date in El Salvador, Honduras and Panama.

The Digicel Panama network is underpinned by a nationwide network of more than 300 retail distributors and in excess of 15,000 recharge outlets nationwide. The company employs 300 people directly in its Panamanian operations as well as creating the indirect employment of 1,000 people.

“Panama promises to be a very exciting market for us and we are proud to offer the best coverage, best service and best value to the people of Panama,” said Digicel Chairman, Denis O’Brien. “Digicel is confident that it can stimulate growth in the mobile market in Panama by increasing mobile penetration within five years to 90 percent ensuring that more and more Panamanians have access to an affordable high-quality mobile network.”

Digicel won a competitive bid process for a license to operate a GSM mobile network in Panama in May 2008. With 20 years experience in telecommunications, Digicel Panama is led by Raul Burgos, whose past accomplishments include senior management positions in SunCom Wireless, Nextel, Telecorp and AT&T Wireless.

According to the Panama Ministry of Economy and Finance, the Panamanian economy is expected to grow 7.5 percent by 2009. With a population of 3.4 million, mobile penetration is currently at approximately 71 percent.

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