Panama Industry: Advances in Law

Posted on 2017-03-29

In order to expedite the process and create a program for industrial competitiveness to promote the sector's growth, generating investments and new employment positions for the economy, the Cabinet approved a bill that modifies and adds articles to Law 76 of 2009, dictating measures for the promotion and development of industry.

This initiative, the result of joint work between the Ministry of Trade and Industry (MITI), the Ministry of Economy and Finance, and the private sector, the Union of Industrialists of Panama (SIP) - explained the Deputy Minister of Internal Trade and Industry, Manuel Grimaldo- amends and adds articles to Law 76 of 2009, and establishes the National Industrial Competitiveness Program (PNCI by its initials in Spanish) which includes components such as strengthening human resources, promotion of financing and development of MSMEs.

Source: Presidency of Panama