El Salvador: A More Competitive Free Zone Law

Such is the desire of Salvadoran textile businessmen, who hope to transform the country into a more attractive destination for foreign investment.

Friday, May 7, 2010

CAMTEX, the Textile and Apparel Chamber, explained they are having talks with the government to draft a new law which complies with WTO requisites (World Trade Organization).

The objective “is to have a law that makes the country more competitive, not like the one we have now”, stated Patricia Figueroa, head of Camtex.



More on this topic

El Salvador: New Law on Free Zones Delayed

August 2011

There is a growing demand for textiles and clothes manufacturing, but a new Law on Free Zones is needed in order to bring fresh investments to this sector.

The World Trade Organization (WTO) has determined, after two extensions, the country should, in 2015, replace the law that has been in force since 1998, which grants tax benefits such as a total and permanent exemption from taxes, among others.

Free zones in El Salvador, Engine of Growth

May 2011

Under the free zone system around 240 000 Salvadorans are employed directly and indirectly.

Free zones in the country have become one of the main drivers of economic dynamism in the country.

Not only do they generate employment but the productive links that connect other sectors of the economy create a dynamism that is reflected throughout the economy as a whole.

El Salvador: Law Free Zone Project Advances

January 2011

The Economy Ministry will submit the draft to the Legislative Assembly during the first half of 2011.

According to representatives of the private sector the project is 90% complete.

"The World Trade Organization (WTO) determined, after two extensions, that the country should, by 2015, replace the incentives for the establishment of enterprises operating in free zones, as stipulated in current laws.

Costa Rica's Free Zones require definition of the system

November 2008

There is concern about the incentives to be received after 2015 when benefits expire according to World Commerce Organization provisions.

The Government wants to ensure these conditions through a reform of the free zone law aimed at attracting investment.

However, its early yet and the possibility of taking it to Congress for a vote seems far off.

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