Incentives for Farmers in Panama Approved
The Agricultural Competitiveness Trust will include in its budget allocations for breeders of beef cattle and milk cattle for the purchase of stallions, improved pastures, and other things.
Thursday, June 14, 2012
"The deputy minister of MIDA, Gerardino Batista, announced yesterday that sectors producing beef cattle and milk cattle will be incorporated for the first time into the Agricultural Competitiveness Trust (Fideicomiso para la Competitividad Agropecuaria in Spanish), which provides incentives in areas such as the purchase of stallions, improved pastures and other things limited to the amount of $100,000", reported Panamaamerica.com.pa.
The Federation of Livestock Farmers of Nicaragua has requested an incentives plan from the Government in order to face the impact of the financial crisis that is affecting the sector.
The country aims to increase its exports to 530 products by 2014.
The Chamber of Commerce, Industries and Agriculture in Panama has expressed concern over the effects of the forthcoming entry into force of the FTA with the U.S. in an agricultural sector which has no investment incentives.
The idea is to make it faster for farmers to perform the procedures required for tax exemptions.
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