Last year the commercial activity of the Panamanian Free Zone totaled $18,469 million, 10% less than what was reported in 2018.
From January to December 2019 imports in the Colon Free Zone (CFZ) totaled $8,655 million, and re-exports totaled $9,814 million, decreasing by 11% and 9% compared to the same period in 2018, respectively.
Regarding figures reported in December last year, a report of the General Comptroller of the Republic states that the value traded reached $ 1,391 million, 6% more compared to the same month in 2018.
Faced with the decline in commercial activity in the Panamanian Free Trade Zone, its directors are looking for new business opportunities in markets in the Caribbean.
In the Dominican Republic, five new companies have approved permits to operate in free trade zones, which together will make an investment of close to $16 million.
Among the activities of approved companies are: manufacture of doors, windows and boxes, international call center services, and textile manufacturing, reported the National Council of Export Processing Zones (CNZFE).
With the reform proposal to the Law of Free Zones presented to Congress, it is intended to reduce from 20 to 10 the requirements that must be met to approve a new free zone.
After several months of working on the proposal to make changes to the law, the file was submitted to the legislative chamber and prepared by the Honduran Maquiladora Association (AHM), the Ministry of Finance, the Central Bank of Honduras and the Ministry of Economic Development (SDE).
The second project was authorized in Guatemala to install a Special Public Economic Development Zone, which will require an initial investment of $16 million and will be located in Pajapita, department of San Marcos.
"Puerta del Istmo" is the name of the industrial park, which will be on a 160-hectare site and will house industrial and logistics companies.
In the Dominican Republic, approvals were granted for the development and operation of four new industrial parks, as well as the respective permits to install 12 new companies in free trade zones.
In the case of the new parks, these will be located in Boca Chica, Valverde, San Cristobal and Santiago, reported the National Council of Export Processing Zones (CNZFE).
In the first seven months of 2019, the commercial activity of the Panamanian Free Trade Zone totaled $10.782 million, 14% less than in the same period of 2018.
From January to July, imports in the Colon Free Zone (ZLC) totaled $5.224 million, and re-exports amounted to $5.557 million, decreasing by 12% and 16% compared to the same period in 2018, respectively.
The business sector and executive authorities are working on a proposal for reforms to the Law of Free Zones of Puerto Cortés, a project that aims to expand existing incentives for this regime.
The modifications that will be discussed in next week's mobile congress in San Pedro Sula seek to reform decrees 1, 2, 3, 12, 16 and 22 of the Free Zone Law of Puerto Cortés.
Five months after the regulations for the creation of the Single Window of Procedures for the Colon Free Zone were approved in Panama, businessmen are asking for their implementation to be accelerated.
The Dominican Republic's free trade zones guild promises to reduce response times with the implementation of the Single Window for Foreign Trade of the General Directorate of Customs.
Simplifying procedures, transparency and security of processes, reduction of response times of requests, reduction of costs of stationery and office equipment, are some of the benefits that will enjoy for companies in areas with the implementation of the Single Window, informed the union.
In Guatemala, the regulations governing the tariffs to be applied to users, administrators and economic zones have come into force as part of the new legislation on Special Public Economic Development Zones.
The tariffs that will be applied according to the categories established in the regulation, published in the Diario de Centroamérica on June 28th, were effective.
In the Dominican Republic, contracts were approved for the development and operation of four parks in export processing zones and 13 permits for the installation of companies.
The National Council of Export Processing Zones (CNZFE) reported last May 21 that it approved permits for two new parks of processing zones to be built in Boca Chica, and another in Nigua.
With the creation of the new Colon Free Zone Committee, aims to promote synergies at the national and international levels to promote the growth of e-commerce in the Panamanian free trade zone.
The creation of this unit takes place in the context of a drop in commercial activity in the Colon Free Zone, since in the first three months of 2019 transactions totaled $4.446 million, 15% less than that recorded in the same period of 2018.
In the first three months of 2019, the commercial activity of the Panamanian Free Trade Zone reached $4.446 million, 15% less than that recorded in the same period of 2018.
In the first quarter of the year, imports in the Colon Free Zone (ZLC) totaled $2,151 million, and re-exports totaled $2,294 million, decreasing by 13% and 17% from January to March 2018, respectively.