In a recent meeting with National Coordinators of the Financial Action Group for Latin America (GAFILAT), it was announced that Panama was designated as Vice-President for 2017 and President for 2018. At this meeting Panama's effort to improve the system for preventing money laundering and financing for terrorism was also highlighted.

Panama as a member of GAFILAT will be evaluated within the framework of the Fourth Round of Mutual Evaluations 2017, based on the evaluation calendar approved by this group.


Investments in the Free Zone grow

Three new companies from Spain, Argentina, and Jamaica will invest eleven million dollars to set up operations in Panama under the free zone regimes. Making the total number of companies in free zones reach 163, with an additional investment in 2016 of US$55,95 million.

Free zones in Panama are regulated by Law 32 of 5 April 2011, which allows for the establishment of companies from all around the world, whose activities are the production of goods, services, high-level technology, scientific research, higher education, logistics, environmental, and health services, as well as general services.

Colon Free Port

From December 4th, 2016 the special fiscal and customs system will enter into action for free trade in 16 streets in the province of Colon, including clothes, shoes, jewels, computers, perfumes, toys, televisions, telephones, watches, and others.

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