Panama: Law Proposed to Attract Investment in Tourism

The Tourism Authority has submitted a project that consists of incentives for the construction of infrastructure and development of small businesses.

Thursday, June 25, 2009

The project was submitted to the Ministry of Economy and Finances (MEF, acronym in Spanish) for proper consideration and the next administration will compose the definitive text.

Roberto Gonzalez interviews the general administrator of the Panamanian Tourism Authority, Ruben Blades, in his article in Prensa.com: "Should the text be approved, infrastructure construction will be incentivated through fiscal credits of up to 75% of the project, as long as the project is recommended by the Master Tourism Plan.”

More on this topic

Tourism Act Costa Rica: Delays and Failures

June 2013

Costa Rican businesses point to lack of integrity in the draft Tourism Act, which has already spent five years getting bogged down in Congress.

"Now the Special Standing Committee Tourism in the Legislative Assembly is rescuing and debating the plan, amid the clamor for profound changes and more analysis made by the business sector," noted an article in Elfinancierocr.com.

El Salvador: Plans for Further Fiscal Stimulus to Tourism

April 2013

The Ministry of Tourism is discussing with private companies and a group of consultants draft amendments to the existing Law on Tourism.

According to Jose Napoleon Duarte, chief of tourism, what they are looking for is a legal framework consistent with the current reality of tourism, integrating unions, tour operators, transportation companies, universities, and other stakeholders.

Tourism Bill in Panama

December 2011

The project, to be presented to the National Assembly in early 2012, aims to promote tourism within the country.

The Minister of the Panamanian Tourism Authority of (ATP in Spanish), Solomon Shama said that "the objective is to increase the amount of investments and grant subsidies to tour operators or receptors, whose only business is promoting tourism in this part of the country, where there are attractions. "

Panama: Tourism Bill Being Discussed

October 2011

The Tourism Authority is discussing including in the tax credit project companies who promote domestic tourism.

In order to look into this, consultations are being held with the Ministry of Economy and Finance regarding the feasibility of the initiative. The aim is to promote tourism in other provinces.

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