Panama Government to Introduce a Tourism Incentives Law to Attract Investment

The President of the Republic, José Raúl Mulino, announced that the Government will promote a tourism incentive law with tax benefits to encourage large investments in areas with low tourism development in the country.  Mulino explained that the initiative seeks to establish an incentive framework that will strengthen private investment without compromising state finances or granting discretionary benefits.  “We need a serious law, not one with discretionary multi-million dollar allocations to support private individuals.

We need concrete regulations with incentives that don’t mortgage the future of Panamanians, but rather stimulate private investment without bureaucratic obstacles or pressure from suppliers,” the president stated.  The governor indicated that the proposal will be geared towards generating new economic opportunities, boosting tourism, and taking advantage of the potential of regions that require greater development of infrastructure and tourist services.