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.
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 main business association has announced the trade fairs Expocomer, Expo Franchise, Expo Tourism, Expo Medical, Expo Furniture and Expo Logistics , to be held between March and October 2016.
From a statement issued by the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP):
Panama, March 02, 2016.- The Chamber of Commerce, Industries and Agriculture Panama (CCIAP) has officially launched a set of six exhibitions that will take place between March and October this year, in order to encourage and stimulate various economic sectors and business in the country.
As a gateway to 90 destinations in America and Europe, and soon Asia, Panama International Airport is venturing into the high value air cargo business.
The development of the logistics area at Tocumen International Airport will bring opportunities for infrastructure development in terms of roads, land leveling and construction and fitting of galleys and sheds.
There is still no legal framework to manage the international cooperation funds that would finance the implementation of the customs union between the two countries.
Even though the Central American Economic Integration Secretariat (SIEC) announced "progress" in the process of the Customs Union between Guatemala and Honduras, Elperiodico.com.gt denounced the obstacles preventing it, "...
The governments have confirmed that the process of technical implementation of the customs union will take between five to six months.
The Minister of Economy and Finance Ruben Morales referred to the process of the Customs Union between Guatemala and Honduras as "a gradual and progressive process, since its implementation will take five to six months. This process involves several institutions in the two countries. "
The decree approved by the Guatemalan Congress was the missing step needed to implement the free movement of people and goods between the two Central American countries.
From a statement issued by the Ministry of Trade:
Guatemala, January 22, 2016. The Congress of Guatemala yesterday approved a Protocol Enabling the Deep Integration towards the free movement of people and goods between the Republics of Guatemala and Honduras.
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.
If free zones -with their tax breaks and other privileges- are good for the economy, why isn't the entire country made into a free zone?
EDITORIAL
Why not provide companies founded with Central America capital the same benefits and privileges enjoyed by foreign firms operating under free zone regimes? The job creation and contribution to the economy that can be made by companies in free zones because they enjoy these privileges should be able to come from business founded with Central American capital as well, which in contrast to foreign firms, have to deal with excessive regulations and bureaucracy in the States of Central America.
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.
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.