Law on Multinational Companies Sanctioned

Panamanian President Laurentino Cortizo, sanctioned the law that creates the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services related to Manufacturing.

Tuesday, September 1, 2020

After the deputies of the Panamanian Assembly approved in the third debate last month the bill that aims to promote investments in this context of economic crisis that derives from the outbreak of covid-19, the President of the Executive sanctioned the regulation on August 31, 2020.

The sanctioning of the law took place in the context of a protocolary act that was carried out in the Colon Free Zone (ZLC).

The EMMA Law promotes the establishment of multinational manufacturing, light manufacturing and assembly companies, requiring the direct hiring of labor, promoting job generation and economic growth in the country, post covid-19, details a statement from the ZLC.

The services of these multinationals will be able to be developed in different provinces of the country and will work in product manufacturing, machinery equipment, product packaging services, machinery and equipment.

Check out the "System for monitoring markets and economic situation in the countries of Central America", developed by CentralAmericaData.

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