El Salvador: Law Free Zone Project Advances

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

Friday, January 14, 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. The country will make annual assessments to determine progress and compliance of the extension," writes for Elmundo.com.sv Kriscia Recinos.

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.

El Salvador: A More Competitive Free Zone Law

May 2010

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

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).

El Salvador Faces Tough Test at WTO

February 2010

The World Trade Organization demands explanation as to why the country is maintaining a 6% subsidy for exporters and various fiscal benefits for free zones.

El Salvador should have terminated the 6% exports subsidy four years ago, according to the agreement it reached with the World Trade Organization.

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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