How to Reinvigorate the Colon Free Zone

A Brazilian firm will carry out a diagnosis, review of the business model, and propose business and legal strategies to revive the competitiveness of the free zone.

Friday, March 18, 2016

From a statement issued by the Ministry of Economy and Finance of Guatemala:

(CENA) The National Economic Council has given approval for the Ministry of Economy and Finance (MEF), to contract out, by exceptional procedure, consulting services with company BAIN Brasil LTDA., in order design an effective industrial policy and a proposed business model for the Colon Free Zone in the amount of $1,619,674.

The Minister of Economy and Finance, Dulcidio De La Guardia, said that this consultancy is in response to agreements reached with the union of industrialists and with the Association of Users of the Colon Free Zone respectively, in order to revitalize both sectors of the economy.

See also: "Panama: Incentives for Investment in Colón"

More on this topic

How to Revive the Colon Free Zone

October 2016

The recommendations of the Brazilian company Bain include adopting a better e-commerce system, improving connectivity with the ports of Colon and facilitating trade within the enclosure.

The company hired by the administrators of the Colon Free Zone to propose a strategy to revive the ailing trade in the area said there was still potential for development. 

Panama: New Law for Colon Free Zone

March 2016

MEPs have given the green light to legislation that modernizes the legal framework of the free trade zone, including the consolidation of business operations under other schemes.

From a statement issued by the National Assembly of Panama:

67 years after the creation of the commercial emporium, the plenary of the National Assembly approved on its third reading Bill No.

Panama: Improvements to the Colon Free Zone

February 2016

The government is proposing relaxing charges for maritime entry, waste collection, and security, and is awaiting a response from users of the Free Zone on 1 March.

The proposal sent by the Government of Panama to the Association of Users of the Colon Free Zone (AU) provides for reductions in the charges for maritime entry from $150 to $25, as requested by the AU, a reduction in the fee for waste and security services and a change in the use of the declaration of commercial movement.

Ideas for Turning Colon Free Zone Around

February 2016

It has been announced that an international consultant will be hired to design a long-term strategy for resolving problems affecting the CFZ.

The company to be hired will also be in charge of developing a national strategy for industrial development, explained the Minister of Economy and Finance, Dulcidio De La Guardia.