One of the prettiest Islands off shore here in Chirqui is Coiba.  The problem is that no one exploits it.  The government needs to open this park island up for public private development.  Perhaps with the new law here will be incentives to do this and other areas here in Chiriqui.

The Panamanian National Assembly has given final approval to Act 481 which includes incentives for the promotion of tourism.  I can think of a dozen projects here in Chiriqui that will benefit.

Tourism businesses welcomed the new rule, but complained that no provision has been made in establishing incentives for small tourism businesses.

An article by Alex E. V. Hernandez in Prensa.com review some of the main provisions of Act 481:

“Hotel investments greater than $ 250,000 inside the country can benefit from tax incentives, such as exemption for five years on imports of materials not manufactured in Panama. And not paying property tax on land and improvements for 15 years, among other things. ”

“… hotels in the interior which make improvements worth $100,000 will also benefit from certain incentives that are valid until 2020.”

“In the capital, it was established that only the hotels that are currently under construction and which have investments of more than $8 million will benefit from the stimulus package.”

Source: Prensa.com