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.
As of May 2017, fishing and carton production recorded sales of nearly double in relation to what was observed in 2016, and they are still growing at rates of 10% and 40% respectively.
The Foreign Trade report by the Central Bank of Nicaragua states that"fishing and cardboard production recorded sales of almost double in relation to what was observed in 2016 and continue to grow at rates of 10.4 percent and 40.2 percent, respectively."
From January 2018 until 2022, there will be an annual increase of 8.25% in the wages of workers in free zone companies.
The agreement will be valid for five years and will come into effect from January 1, 2018.
Laprensa.com.ni reports that "...Currently the minimum wage in force in a free zone is US $180, and when the adjustment is applied next year it will go up to approximately US $195".
In Nicaragua, a banana processing and packaging plant has opened up in the free zone regime, with a capacity to process 3,500 cases per day.
The company Banano Líder is now one of the 264 companies operating in the country under the free zone incentive scheme.The new plant, located in La Paz Centro, León, has capacity to process 3,500 cases of the fruit per day.
A proposal put forward by the textile sector seeks to generate trade between national and free zone companies, starting with the possibility that the latter provide raw materials to local companies.
The objective of the Nicaraguan Association of Textiles and Confection of Free Zones (ANITEX) is to generate greater links between the companies that operate under the regime and those in the national market.
A simpler scheme for importing materials is one of the new features included in the new regulations announced to facilitate procedures for free zone companies.
The leaders of the Superior Council of Private Enterprise (COSEP) announced that the new technical circular for free zone companies will be in effect from February 1, and includes, among other things, adjustments to the time and costs incurred by companies when transporting goods.
Between January and September the value of exports amounted to $509 million, registering an increase of 22% compared to the same period in 2015 and 29% in volume.
The monthly report by the Ministry of Foreign Trade specifies that the export of harnesses represented 14% of total exports from Nicaragua during the first nine months of the year.
The report said that exports of harnesses, along with garments and clothing, were those that were the most buoyant of all the exports under the free zone regime. "... Together they had a share of 58.4% in January-September 2016. "
Although clothing and car wiring harnesses continue to lead, the number of types of goods exported under the free zone regime has gone from ten in 2008 to 20 today.
Production and export of clothing and wiring harnesses are still the main goods produced and exported under free trade zone conditions, but now others have been added such as as cigars, edible oil, fruits, leather shoes, paper, cardboard, and manufactured leather covers for furniture.
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.
A Peruvian spinning mill is to invest $15 million in Las Mercedes Industrial Park, and soon three other companies from the call center and textile sectors will be setting up there too.
Dean Garcia, executive director of the Nicaraguan Association of Textile and Apparel (Anitec), told Elnuevodiario.com.ni that"...
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.
In January the minimum monthly wage in companies operating under the free zone regime will change from $159 to $171.
The adjustment which has been in force since January this year is the result of multi-year tripartite agreement signed in December 2012 and applied to 109,000 employees working in free zone enterprises. This was reported to Laprensa.com.ni by Dean Garcia, executive director of the Nicaraguan Association of Textiles and Apparel (Anitec).
173 companies operating in 48 industrial parks using the free zone format, in three years increased the total number of square meters used by 33%.
An estimated $300 million has been invested between January and November 2015 by companies operating under the free zone incentive scheme, which are focused on the textile industry mainly in the manufacture of harnesses, production of tobacco and more recently, services such as call centers.
Beverage Industry Digital Magazine established in 1942, the oldest Spanish trade journal and the only beverage trade magazine serving the Latin American beverage market. It serves soft drink bottlers, brewers, bottled water...