Marine biodiversity of Panama has allowed the development of a thriving fisheries industry; however, since 2008 catches and value of landings have been declining. This paper reviews the state of marine resources and calls for efforts to build capabilities for research, management and conservation of fisheries through a national policy for Panama. Government and other stakeholders should not only promote these actions, they must also develop their internal competence in excellence science and technology. Implementation of projects and programs in research and management will allow the adoption of mitigation measures for the negative effects of fishing activities, enabling the fulfillment of sustainable and responsible exploitations that stimulate conservation of marine and coastal resources of Panama.