A draft law creating a special tax incentive, labor and migration regime for maritime financing entities and companies that carry out fundable maritime projects, according to Cabinet Resolution No. 7, published in the Official Gazette, will be proposed to the National Assembly by the minister of the presidency, Álvaro Alemán.

The minister Alemán introduced the law before the Cabinet Council on February 2.

The movement of cargo in the national port system last year increased 10%, but still without recovering the 18% it had in 2011.

Source: Panamaamerica.com.pa.

LAW FOR INCENTIVES TO THE MARITIME INDUSTRY WILL BE PROPOSED BEFORE THE NATIONAL ASSEMBLY.