Excerpted from the bill introduced by the government of Panama:

Law 41 of June 14, 2013, through which reform is made to Law No. 8 of 1998 is amended by Decree, Act 56 of 2008 and Act 57 of 2008 which dictates other provisions on the work at sea and on waterways, significantly restricting access to the Panamanian market to foreign investors in the provision of maritime auxiliary services in the Republic of Panama.

The enactment of this Act has brought countless reactions from some states and actors in the Panamanian maritime community and the international maritime community who have expressed concern about the impact which this legislation could have.

More on this topic

Maritime Services Reopened to Foreign Investment

January 2015

Panama's National Assembly has passed a law which removes the restrictions imposed in 2013 on granting operating licenses to foreign companies for the provision of ancillary maritime services.

From a statement issued by the National Assembly of Panama:

The full Legislature approved on its third reading an initiative which fosters and promotes the auxiliary maritime industry, which is considered a pillar of development because of its contribution of 20% of gross domestic product and source of employment.

Update to Incentive Law for Panama Pacific

January 2015

A law has been approved which updates the tax treatment of high-value services and movement of goods from the free zone in Panama Pacific to other countries.

From a statement issued by the National Assembly of Panama:

The full National Assembly approved on its third reading Bill 118, which amends Article 41 of the Law of 20 July 2004 on the Panama-Pacific Area and adds Article 91-A.

Auxiliary Maritime Services Affects Agreement with EU

September 2013

Law 41, which limits foreign investment in companies engaged in auxiliary maritime services, could jeopardize trade relations between Panama and the EU.

Prensa.com reports that "The law, passed in June of this year, states that 75% of the shares of companies engaged in auxiliary maritime services for barges and boats must be owned by Panamanians".

More Challenges to Maritime Services Act

June 2013

At the Office of International Trade Negotiations at the Ministry of Commerce the negative impact that it would have on the country's maritime activity has been noted.

The law has been harshly criticized by the Ministry of Commerce and Industry (Mici), who also considered that the agreements violate promotion and protection of investments and trade agreements signed by Panama.