This law could be ready in sixty days, explained Roberto Henríquez, head of the Commerce and Industry Minister (MICI).
An article in Laestrella.com.pa details the incentives being proposed: "...industrialists will obtain tax benefits in exchange for research and development projects, ... implementing better environmental practices and reinvesting profits in new machinery, ... and training their human resources".
Domestic industry has been shrinking in the past years, and now accounts for just 5% of the GDP.
A recent law, endorsed by the Executive, creates the Industrial Promotion Certificates, known as CFI.
"Industrial companies expect the sector to resurge to 1980's levels. Its hopes are centered on these Certificates, which will give back to the companies 25% to 35% of what they invest in areas such as research and development; quality and administration systems; profit investment and reinvestment; and training".
The presidential cabinet approved a law project to foster and develop national industry.
With the law, incentives will be awarded to companies through certificates of industrial promotion, or CFI in Spanish.
"Agro-industrial companies investing in expanding their production will be entitled to a 35% refund of any disbursements made in said activities. Other industries will be entitled to 25%", reports Prensa.com.
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