Posted on 2017-06-22
Following the enactment of the Industrial Development Law, Trade and Industry Minister Augusto Arosemena said that the President of the Republic, Juan Carlos Varela, announced the creation of a "Made in Panama" brand for export products.
Arosemena said that while Panama can become a producer, rather than an importer, it will have the capacity to use the geographical position and logistics capacity to be able to export to markets in the region.
He said that during the act of sanctioning the Industrial Development Law, the Union of Industrialists of Panama was authorized to look for a company that is in charge of carrying out the international campaign to create the country brand.
Arosemena reiterated that the Law also seeks to modernize and promote the industrial sector in the country. One of the main benefits is the increase of the Industrial Development Certificate (IFC) from 25% to 40% a tax credit to support the investment.
Our Panama attorneys law firm offers a Guide to Doing Business in Panama completely FREE! Download here!Get it now