Panama: to offer Incentives for manufacturing

PANAMA’S  government plans to extend the incentives of the law 41 to other multinational companies not included in the original text, such as the manufacturing sector.

Nestor Gonzalez, vice minister of Foreign Trade, told Anpanama.com that “… the law currently only provides incentives to companies that set up back office operations, and now they want to expand this and allow industries to set up under this scheme. “

“We want to be able to introduce other activities such as manufacturing processes and value added, among other things’.

Under the terms of Law 41 of 2007 for sites belonging to multinational companies (SEM), 116 companies have already set up in the country , and “… currently they are negotiating with the technology company Microsoft to install their regional HQ and a data center hub in Panama.”