New properties put to tender again in Colon Free Zone in Panama

With the failure of the first bidding carried out last December, the Colon Free Zone is preparing for a second tender.

Tuesday, January 6, 2009

According to reports from laestrella.com.pa, "The Colon Free Zone fail in its first attempt to award bids for 50% of the lots from the former Multimodal, Industrial and Services Center (CEMIS).

It includes 100 hectares of land, divided into three areas situated in the Cocosolito area.

The director of Planning and Finances at the Free Zone, Raul Moreira, said that they are preparing the resolution to cancel the first tender, the first step before convening a new tender."

More on this topic

Pessimism in the Colon Free Zone

October 2015

Employers indicate that there are no incentives for maintaining business operations, which between 2012 and 2014 fell by 20%.

Commercial activities, which rebounded in 2012 compared to 2011, totaling $31 billion, fell to $27 billion in 2013 and to $24 billion in 2014.

An article on Panamaamerica.com reported that the president of the Association of Users of the CFZ, Marcos Tellez, noted that "...

Colon Free Zone Grows by 42%

October 2011

Commercial activity in Panama's free zones was 42% higher in the first 7 months of this year than in the same period in 2010.

According to the Controller General's Office transactions totaled $15,870,000 in July 2011, compared to $11,173,000 in the same period in 2010.

"The positive statistics are supported largely by the free zone re-exports which increased by 37.5%", reported Panamaamerica.com.pa.

More Infrastructure for Panamanian Free Trade Area

April 2011

A $75 million project known as Leona includes a trade center, storage facility and 9 buildings each with 15 or 16 commercial premises.

The project's manager for developer Investor Continental Group, Daniel Cachafeiro, added that the increase in demand for new commercial premises is the reason for the expansion of the Colón "free zone" (Zona Franca or ZFA in Spanish) - an area receiving free or preferential tax rates.

Colon Free Zone Grows 9.5%

October 2009

Trade activity in Panama's Colon Free Zone in the first 9 months of this year was 9.5% higher than the same period of 2008.

For September 2009, activity was 15% higher than the same month of 2009.

These good news come weeks after users of the Free Zone reached an agreement with Martinelli's administration regarding how many taxes they must pay.

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