The government plans to grant exemptions and other tax incentives to banks that finance investment projects in the Colón Puerto Libre commercial zone.
The objective of the Ministry of Commerce and Industries is to facilitate commercial investments in Colón Puerto Libre, through the exemption of several taxes, for banks that grant loans to companies interested in settling in the duty-free zone.
Those interested in taking part in the pilot project must be recorded in the ZLC in order to be able to set up in one of the 16 streets in the city of Colon where the special system is in effect.
The store Nevada, which sells health and beauty items, was the first to purchase a property in one of the 16 streets in which the special system will be in effect.According to Maria Vanessa Ford, executive secretary of the Colón Free Port (CPL by its initials in Spanish), an electronics company and another company dealing in clothing, cosmetics and perfume will be part of the system under a test environment.
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