New Economic Development Zone Endorsed

In Guatemala, the Miel Verde project, Special Public Economic Zone, was approved. In its first phase of development, it will require an investment of close to $4 million and will be located in the municipality of Río Hondo, department of Zacapa.

Friday, December 18, 2020

The new special zone will have a total area of 23,544 square meters, however, in the first phase only an area of approximately 5,173 square meters will be developed.

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Directors of Zona Libre de Industria y Comercio Santo Tomas de Castilla (Zolic), the entity in charge of authorizing the new projects, informed that companies from various sectors will be installed in Miel Verde."

Prensalibre.com reviews that "... for the industrial area they will destine 47% of their installations, for commercial activities, 42% and for services, 11%. They plan to start operations in mid 2021 with the first user."

Byron Gaitan, Zolic's general manager, said that Miel Verde was authorized "... to operate for a period of 12 years, which can be extended, including the strategic project proposed by said entity."

Since the Zolic's regulations were modified, Miel Verde becomes the fifth special economic zone to receive the endorsement of the authorities, since Michatoya Pacífico, Santander, Zona Libre Quetzal and Puerta del Istmo had already been authorized.

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