Puerta del Istmo, Centro Logístico Quetzal and ZDEEP Piedras Negras, are the projects advancing in Guatemala in the process of becoming Zones of Special Public Economic Development.
A proposal has been made to create a special economic zone in 26 municipalities in the southeast of the country, which would provide tax incentives for activities related to clean energy and the prospecting of natural gas and oil.
The Executive presented to the Legislative Assembly a preliminary draft of the Law on the Special Economic Zone of the Southeast Region of El Salvador, which has the objective of developing 26 municipalities of Usulután, San Miguel and La Unión.
After trying unsuccessfully to meet with their Venezuelan counterparts and negotiate payment of the $530 million owed to the Colon Free Zone, Panamanian businessmen are requesting action from Varela.
Representatives from the Colon Free Zone (CFZ) propose that the issue of payment of the debt should be addressed by President Juan Carlos Varela during the Summit of the Americas, to be held soon in the country.
Administrators of the Colon Free Zone are promoting its re-exportation services through business appointments with companies other than those in traditional markets.
In order to mitigate the effects of trade restrictions imposed by Colombia and losses from the drop in business with Venezuela, major customers of the Colon Free Zone (CFZ), authorities are changing strategy in order to attract companies from other markets, such as South America.
With a record $2.207 billion in exports last year in 2012, the nation aims to continue growing its free zone regime, both in terms of the number of companies and volume of exports.
Beyond having obtained these successful figures, the aim is to attract more businesses and diversify economic activities. Within these objectives, the installation of the U.S.
Imports and exports from January to June 2012 generated in the CFZ reached $14.800 million, compared to $13.102 million in the same period of 2011.
An article in Prensa.com reports that "The growth comes despite the early months of the year being not the most active of the free zone, as indicated by traders."
The run-up to the presidential elections in Venezuela-main, the main market for the CFZ, is another factor affecting the normally low impact on business operations in the Colon Free Zone, drawing further appreciation of the almost 13% of increased trade.
New investments in the sector are pending the approval of El Salvador's new tax-free zone law.
According to the Salvadoran chamber of textile manufacturers (CAMTEX in Spanish), the reforms being considered by the government comply with all the demands made by the World Trade Organization (WTO).
"However, CAMTEX director, Patricia Figueroa, comments that until the reforms are finally approved by congress the investments will not get the green light," reports Laprensagrafica.com.
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