ECONOMY

Council approves Colón as a duty free zone

The measure will now be forwared to the National Assembly.

Temas:

The Cabinet Council has approved a law to present to the National Assembly to make the entire city of Colón a duty free zone.

"This project will extend the benefit of the Colon Free Zone to the surrounding area which will allow Panamanians and tourists to make retail purchases," according to the Secretary of State Communication.

There will also be incentives for investors and merchants locating in the area, as well as the construction of parking lots.

"This will be implemented as soon as possible," said President Juan Carlos Varela.

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