Guatemala has a disadvantage among all the other countries in the region that offer free trade zones that are exempt from taxes, which is more attractive for foreign investment. They have tried to modernize this law, but they haven’t been able to.
Evelyn Boche writes, in her analysis on the subject in Sigloxxi.com,: “A few days ago, I witnessed how the Directors of Proexport, Colombia, the office in charge of promoting exports from Colombia to Guatemala, listed the modernization of the free ports system as one of the factors that attract and help increase foreign and local investment. The novelty of this is that the company itself is a free trade zone.”
The arrival of 13 new companies has been announced in the sectors of services, processing of finished or semi-finished products and assembly in the free trade zone in the country.
From a statement issued by the Ministry of Commerce and Industry of Panama:
The potential of Panamanian Logistics, tax benefits and immigration benefits, are still the main attractions which caused 13 new companies to decide to settle in Panama, protected under Law 32 of April 5, 2011 on Free Zones, announced the Minister of Trade and Industry, Meliton Arrocha.
The project aims to create a free trade zone which will offer offshore financial services and related economic activities.
The Nicaraguan government's proposal to create a free trade zone to provide tax incentives to attract financial sector companies and to exported services from there has raised doubts in some quarters, with accusations being made that the bill evokes the concept of a tax haven.