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 October 1 to 3, Guatemala will be hosting a Conference on Free Zones of the Americas, where topics such as the potential and benefits of companies in the sector will be discussed.
From a statement issued by the Association of Free Zones of the Americas:
Guatemala, September 19, 2018.- The Association of Free Zones of the Americas - AZFA - together with the Santo Tomas de Castilla Free Zone, Chamber of Industry, Chamber of Commerce and the Ministry of Economy, presented the twenty-second Conference for Free Zones of the Americas to be held from October 1 to 3 at Hotel Casa Santo Domingo, in Antigua Guatemala.
Ten companies have already shown interest in setting up in the logistics center to be developed in Tocumen, whose business plan and regulations for a free zone could be ready in September.
Among the activities that will be developed by the companies operating in the logistics park are packing and repacking, as well as product manufacturing and other complementary activities.
San Miguel Industrial Park is the only park that owns a construction and consulting company. We offer the Free Zone location with the perfect building to suit your manufacturing needs. Our flexible layouts allow an easy future growth. Because of this fact we can offer exactly what our clients need at a very competitive price. Clients can own a building or they can enter a lease agreement. Because of this flexibility many world known companies have chosen to work with us. We are licensed to build in Honduras providing the best free zone laws in the industry maximizing profitability.
Organization that operates in Honduras and Honduras
Phone: (504) 2556-7373 - (504) 94510322
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.
A study by PROCOMER indicates that for every dollar exonerated in the period between 2010 and 2014, companies in the free zone regime generated $5.7 on average for the country.
From the executive summary of the study by PROCOMER entitled "Free Zone Balance 2010-2014":
4. Country Net Profit (CNP) for the operation of the Free Trade Zone Regime (FZR) reached an average of US $2.556 billion a year in 2010-2014.
From November 4th to 6th a conference will be held in Managua attended by users of free zones, industrial parks and representatives from customs, exporters and freight forwarders in the region.
Association of Free Zones:
The XIX Conference of Free Zones of the Americas will take place on 4 to 6 of November in Managua, Nicaragua.
The event is being organized by the National Commission of Free Zones of Nicaragua and ProNicaragua at the Hilton Hotel.
From 12 to 14 November representatives from free zones in Latin America will be gathering together in Panama City to discuss issues such as changes in legislation and the role of free zones in the logistics chain.
The topics to be discussed range from innovation and new business in free zones and industries to changes to key legislation for the creation of logistic nodes.
A market of one billion consumers has been opened up to products that are manufactured, processed, assembled or finished in Panamanian Free Trade Zones, without requirements for having value added locally.
Companies under the free zone regime in Panama are offering local and foreign companies the ability to export to China under the special conditions that govern them, with the aim of achieving the high production volumes required.
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.
Representatives from the American company Allen Global Inc. have expressed interest in installing a factory in the Industrial Park Free Zone.
Company representatives said that setting up a factory there would generate 400 direct jobs.
An article in El Heraldo online quotes "We are interested in learning about the port facilities and fiscal measures, including everything that has to do with the benefits of the Public Private Partnership (PPP) Law, said Corey Whitely the vice president of corporate affairs at Ethan Allen Global Inc."
Located in the west side of the capital, in areas of growing demand for office space, Escazú Corporate Center will be the first and most modern multipurpose complex in Costa Rica.
The start of construction of Escazú Corporate Center (ECC), a modern corporate tower of 20.400 m2 and eleven floors, gives birth to the first and most modern multipurpose complex in Costa Rica, working under the free zone regime, which makes the proposal more attractive.
The closure of duty-free stores in land based customs, hotels and shopping centers is thought to be the reason for the rise.
In February 2010, the Honduran Tax Revenue Service board of directors suspended the contracts of tax-free shopping stores after receiving complaints that these businesses were often linked with the illegal trade in cigarettes and alcoholic beverages.