Panama National Assembly has approved the draft law 352, amending Law 76 of 2010, which created the Empresa Nacional de Autopistas, S.A. (ENA).

The document presented by the Minister of Public Works, Ramon Arosemena, also establishes a legal framework for the Law 5 of April 15, 1988 regarding public project concessions.

With the adjustments in both laws, ENA will be allowed to set up subsidiaries in order to carry out public interest projects, such as roads. ENA will also be allowed to participate in mixed joint ventures for the development of public infrastructure.

According to this new legal framework, this type of concession contracts will have lengths of up to 30 years. The concessions may be extended for a term which doesn't exceed the initially granted period.

Minister Ramon Arosemena said the document will facilitate future financing of highways, since the number of mechanisms to build roads across the country has increased.