Newlaw to boost industrial sector approved

PANAMA applied some oil to the wheels of industrial production on Tuesday, May 23,  when  President Juan Carlos Varela today signed  the law amending the regulations.

The new standard aims to boost a sector that has been losing competitiveness.

The law expedites the issuance of the Industrial Development Certificate, a mechanism used to grant tax

credits to industry, which will be 40 percent of the amount invested in research and development, training of personnel, environmental management and increased employment associated with production.