Portafolio Inmobiliario announced that it will begin the development of the Green Valley Free Trade Zone project, which in its first stage contemplates the construction of a Free Trade Zone located in the municipality of Grecia, province of Alajuela.
The total land on which the project will be located amounts to more than one million square meters, however, its construction will be carried out in stages. In the first phase, 140,000 square meters will be developed, whose investment will be around $10 million in infrastructure and its construction period is expected to be approximately one year, reported the Costa Rican Development Initiative Coalition (Cinde).
High operating costs and the contraction of internal consumption are some of the reasons why in Costa Rica manufacturing companies under definitive regime report a decrease in their production, a situation that contrasts with the dynamism of companies in free trade zones.
Although in Costa Rica the level of unemployment of buildings in industrial parks is 8%, some precincts are facing threats, since companies could leave them because of the traffic congestion in the area where they are located and the travel time of employees.
For Colliers, other threats faced by industrial parks in the country to have their facilities unoccupied are that companies have several sites for the separation of their processes and competition for human resources.
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.
From January to July 2018, sales abroad from free zones in Costa Rica grew by 8%, well below the 12% increase registered in the first seven months of 2017.
According to data from the Foreign Trade Promotion Office (Procomer) between the first seven months of 2016 and the same period in 2017, exports of products in free zones went from $2.874 billion to $3.208 billion, representing an increase of 11.6%.
A modification has been made to the law to equalize the incentives received by the free zones that operate in Grecia, Valverde Vega, Naranjo, Palmares and San Ramón, with those outside of the Greater Metropolitan Area.
From a PAC Party bulletin:
April 3, 2018.The Legislative Assembly approved, in a second debate, the project to improve the conditions for the installation of free zones in the West Region of Alajuela (File No. 20,464).
Companies that operate under the free zone regime will be included in the list of companies required to use the electronic invoicing and receipt system, starting this year.
Authorities at the Ministry of Finance stated that in the coming days they will be make public a resolution with the inclusion of all taxpayers who until now have not been obliged to issue invoices electronically.
Plans are underway to build, in San Rafael de Alajuela, Costa Rica, a 109 thousand square meter industrial park with offices and warehouses, which will operate under the free zone regime.
At the end of November 2017, Piasa Consultores submitted an Environmental Impact Study (EIA) to build an office and warehouse park within the Industrial Zone of the Regulatory Plan of the Municipality of Alaljuela.The project is called "Parque Industrial 506", and will be located in San Rafael de Alajuela.
Between January and August free zone companies, which enjoy exemptions, increased their exports by 13% compared to the same period in 2015, while exports from definitive arrangements only rose by 1%.
From a statement issued by Cadexco:
San Jose, 22 September 2016.Exports of goods accumulated up to August amounted to USD $6.634 billion, which is 6% higher compared to the same period last year.
A trust has been approved which will start off with $1.2 million to fund training plans and provide work training for free zone companies.
The funds for the Trust come from the Ministry of Foreign Trade's budget, and "... companies that receive the incentive must also provide part of the funding for the program that they request, according to the ministry."
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.
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