Costa Rica Defines Which Sectors Will Benefit from Free Zone Bill
Authorities published which sectors will benefit from the regulation passed on January 2010.
Tuesday, November 16, 2010
These include companies employing at least 200 people, those who devote at least 0, 5% of its sales on research and development in local operation, those certified ISO 14000, LEED or equivalent at its plant in Costa Rica or connected with cutting-edge industries in various fields.
There is a growing demand for textiles and clothes manufacturing, but a new Law on Free Zones is needed in order to bring fresh investments to this sector.
If proposed reforms are approved, the country should find it easier to attract foreign investment.
The Free Zone Association is putting pressure on Congress to pass the bill that will regulate the sector’s activities.
President Oscar Arias signed a law modifying the Free Zone regime in Costa Rica.
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