Free Zones: Mechanism for attracting investment and competition
Free Zones are the main driver in linking global trade and are logistical centers par excellence. They are of great importance in Latin America.
Tuesday, August 19, 2008
During an interview by Inbound Logistics with Mr. Hector Vargas Villalta, President of the Free Zone Committee for the Americas and Director of Meridian 100º, FTZ, he pointed out the thrust that free trade zones give to foreign trade.
In the last four years since the reform of the law in 2009, 132 companies registered to operate under this tax exemption scheme.
An initiative from the panamanian private sector seeks to simplify the law, providing investment incentives for a period of not less than 10 years and expediting the approval of operating licenses.
From September 27 to 29 Costa Rica will be hosting an event which brings together representatives from companies and free zones in Latin America and other continents.
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.
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