The National Assembly approved on its third reading the creation of the Ministry of Environment, which will be responsible for the environmental monitoring of development projects running in the country.
From a statement issued by the National Assembly of Panama:
After several days of discussion and amendments of the articles, the full National Assembly approved on its third reading House Bill No.
The proposal seeks to make it easier to attract foreign investment in exploiting the country's untapped copper deposits.
The law currently in force in Panama relating to mining is from 1963 and Martinelli's government believes it contains provisions that hamper investments in the sector. These include prohibiting the granting of mining concessions to foreign governments, which the new law would not retain.