Panama Pacifico getting new investment incentives

PANAMA’S NEW government is making moves to increase the attractiveness of investing in Panama Pacifico by promoting a bill that will modernize the tax status of high-value services and the movement of goods from the zone to other countries.reports CentralAmerica Data
From the preamble to the draft submitted to the National Assembly of Panama 

Law 41 of July 20, 2004, created the Panama-Pacific Special Economic Area as a scheme for legal matters, tax, customs, labor, immigration and special business, oriented towards encouraging and promoting investment, job creation and to make the Republic of Panama more competitive in the global economy.

The Panama-Pacific Area is being developed through a Master Plan, which as a result of an international tender, undertook the task of developing, managing, promoting and operating a substantial part of that area, called the Panama-Pacific Project, based on a development scheme and scheduled investments with a minimum investment commitment of $700 000 000.00 over 40 years. All of this in order to provide the area with the infrastructure and conditions needed to attract investments that generate economic activity and jobs, depending on the objectives under which the special legal status of the area was created.