Panama: Plans to Expand Investment Incentives


News from Panama / Monday, March 14th, 2016

investment

The initiative aims to expand the scope of the Law on Multinational Companies to provide the same benefits to industrial companies who export their entire production.

In Panama discussion is taking place of a new law for Branches of Extended Multinational Enterprises (SEMA by its initials in Spanish), an extension of the law on Multinational Corporations known as SEM, in order to attract industrial companies with some similar benefits to those contained in the SEM.

Anpanama.com reports that “… the SEMA law would be for companies that export their entire production, such as 3M, which is based in Panama, and everything that they receive they process and then send it out. 3M is located in the Panama Pacifico Special Zone, which itself has an incentive within its facilities for the establishment of industries, said Ricardo Sotelo, president of the Union of Industrialists of Panama.”