El Salvador creating a free trade zone in La Unión
El Salvador is in the process of creating a free trade zone in La Unión, with the first 14,000 square meters of techno-industral space to be ready in September.
Tuesday, July 22, 2008
The project, financed by investor Mario Menéndez, consists of two large buildings 14 meters high and well ventilated. They are designed as factories, with one for a production line and the other for storage and loading, along with administrative offices.
Vice president Rosario Murillo gave details on 10 new projects to be executed in the next six months for free zones dedicated to different productive activities.
With a record $2.207 billion in exports last year in 2012, the nation aims to continue growing its free zone regime, both in terms of the number of companies and volume of exports.
Although tax incentives have been granted by the government, a lack of good telecommunication services and public infrastructure deters investors from setting up in less developed areas.
Puerto de La Union and the Northern Highway: two major infrastructure projects in the same country which produce very different results depending on who's running them.
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