In Honduras, a law reform was approved that simplifies the procedures that local and foreign companies must follow to take advantage of the Free Zone Law and extends for 15 more years the benefits that it grants to the companies of the regime.
From the National Congress of Honduras' statement:
The law was more than 44 years old and needed to be updated to make Honduras competitive
With the reform proposal to the Law of Free Zones presented to Congress, it is intended to reduce from 20 to 10 the requirements that must be met to approve a new free zone.
After several months of working on the proposal to make changes to the law, the file was submitted to the legislative chamber and prepared by the Honduran Maquiladora Association (AHM), the Ministry of Finance, the Central Bank of Honduras and the Ministry of Economic Development (SDE).
The business sector and executive authorities are working on a proposal for reforms to the Law of Free Zones of Puerto Cortés, a project that aims to expand existing incentives for this regime.
The modifications that will be discussed in next week's mobile congress in San Pedro Sula seek to reform decrees 1, 2, 3, 12, 16 and 22 of the Free Zone Law of Puerto Cortés.
From September 27 to 29 Costa Rica will be hosting an event which brings together representatives from companies and free zones in Latin America and other continents.
The Association of Free Zones of the Americas will be holding the XX Conference on Free Zones of the Americas, a space which will bring together representatives from the most important countries and free zones in Latin America, to discuss and exchange experiences and knowledge.
The 50 companies already operating at Tocumen's airport facilities will be able to access free trade zone incentives if the request made by the administration of the terminal is approved.
The documentation was submitted to the National Commission of Free Zones at the Ministry of Trade and Industry (MITI), and there will be a 30 day period to review and approve the application.
The problem with income tax exemptions is that they favor high-return projects that would probably have been made anyway.
From an IDB document entitled "The effectiveness of tax incentives: The case of export processing zones in Costa Rica, El Salvador and the Dominican Republic".
Introduction and Summary
Policies encouraging investment make use of a variety of instruments.
A logistics park, a port and a center for agricultural research and development in the Gulf of Fonseca would be the basis of the first Employment and Economic Development Zone (ZEDE by its initials in Spanish).
From a statement from President of Honduras:
September 23, 2014. At a meeting on Monday in New York City, the United States, consultants from the International Cooperation Agency of Korea (KOICA), handed to President Juan Orlando Hernández the first three possible projects which in the future which could materialize as the Employment and Economic Development Zone (ZEDE) in the Gulf of Fonseca.
The XV Latin American Conference on Free Zones will discuss the challenges and opportunities they face, especially from 2015 when the WTO requires the elimination of export tax incentives.
The "XV Latin American Conference on Free Zones" will take place from 26th to 28th October this year at the Hotel Casa Santo Domingo, Antigua Guatemala, Guatemala.