Another bit of good news for the environment in Panama.

The Assembly approved extending to the forestry sector a program of fiscal incentives, such as exemption of income tax, real estate and introduction, among others.

From a statement issued by from the National Assembly:

A few months after finalizing a series of prerogatives for forestryactivities, the full legislature approved, in a third debate, extending this program of fiscal incentives, in order to meet the objectives of the Alliance for the Million Reforestated Hectares and the Sustainable Development Objectives 2030.

The Bill is number 469, which creates an incentive program for forest cover and conservation of natural forests.

The forest incentive program will benefit from the following activities: natural forest conservation, assisted natural regeneration, restoration of natural forests, agroforestry systems, sustainable forest management of natural forests, commercial forest plantations, processing of timber and non-timber forest products, nurseries, research, Forestry development and innovation.