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.
Code Development Group announced that it plans to build a new free zone in Grecia de Alajuela, Costa Rica, which would house companies in the high technology sector.
Directors of Code Development Group, who are also part of the group of partners of the Free Zone of Coyol, reported that the new business park would be named "Code" and that the project already has the endorsement of the municipality of Greece.
In Panama developers are being more cautious when making decisions regarding the construction of industrial projects, as they prefer to build buildings based on the needs and demands of customers.
In the current situation of the country, where investment in new construction, additions and repairs, reports a 9% contraction until October 2019, developers in the industrial real estate market have chosen to migrate to the "Built to Suit" (BTS) leasing model.
In the first semester of the year, 33 environmental impact studies were submitted in countries in the region for the construction of different types of industrial plants and improvements in existing ones.
The interactive platform "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private construction projects for which environmental impact studies (EIA) were submitted to the respective institutions of each country.
In the first quarter of 2018, the manufacturing and services sectors recorded falls of 4,000 and 7,000, respectively, in the monthly average number of affiliates to the social insurance scheme compared to 2017.
One example of the contraction observed in industrial activity is what occured in free zones.The Association of Private Free Zones of Guatemala explained that due to the closure of more than one hundred companies, some 1,500 jobs have been lost.
Plans are underway to build an industrial park on a 124-hectare plot in the province of Limón, Costa Rica, which will operate under the free zones regime.
At the end of January 2018 the company Zona Franca La Francia S.A. submitted an Environmental Impact Study (EIA) to build an industrial park. The project is called "Zona Franca La Francia", and will be located in the canton of Siquirres, province of Limón.
While one candidate is willing to review the limits on private electricity cogeneration, and raise them from 15% to 30%, the other rejects the possibility of extracting natural gas due to its environmental implications.
In a meeting with companies in the Chamber of Industries of Costa Rica (ICRC), the two candidates who will go head to head in a second round of voting on April 1, shared their proposals to deal with issues of great importance to the industrial sector, such as electricity rates and the opening up of the electricity market, as well as the management of procedures in State institutions.
An electrical transmission line in Panama, the expansion of an aqueduct in Costa Rica and a medical center in Guatemala are some of the projects planned for the coming months in the region.
The interactive system "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private construction projects that are planned to be built in the region.
The monthly index of manufacturing activity of the union of Dominican industrialists fell in September 2017, mainly due to a decline in the activities of medium and large companies.
"...In an explanatory note to the report, the Association of Industries of the Dominican Republic (AIRD) says that when the index falls below the 50 point barrier it is considered a negative signal.They explained that based on the weighted value, a score below 50 points means that manufacturing activity is declining."
The bill approved by the Cabinet envisages an increase of 25% to 40% in tax credits for investment in manufacturing and agribusiness.
From a statement issued by the Presidency of Panama:
In order to expedite the process and create a program for industrial competitiveness to promote the sector's growth, generating investments and new employment positions for the economy, the Cabinet approved a bill that modifies and adds articles to Law 76 of 2009, dictating measures for the promotion and development of industry.
A new bill, agreed between the government and the private sector, expands tax incentives granted to companies in the sector through the Certificate of Industrial Promotion.
The text was drafted after the government and the private sector reached consensus on how to define tax incentives to which companies in the sector are entitled to.The project will be submitted to the Cabinet this month and will be discussed in the current legislative period.
In the Greater Metropolitan Area 46% of the inventory of industrial real estate developments, such as warehouses and industrial buildings, are located in Heredia and Alajuela.
From a statement by Newmark Grubb Central America:
The provinces of Alajuela and Heredia, with 24% and 22% of the total inventory of industrial real estate developments in the Greater Metropolitan Area respectively, maintain the lead as suitable for complexes such as warehouses, mini-warehouses, industrial buildings and logistic works.
A third and final call has started for companies and investors interested in participating in the development of projects in the program 'Apuesta por InversionES'.
Applications are open for national and international companies with the financial capacity to invest anywhere in the country.
Elsalvador.com reports that "...Interested investors should do so in a new project or expansion of an existing one in the category of tradables, which includes goods or services that can be traded internationally, said a statement issued by Fomilenio II.These are projects that can be set up in any part of the country, with a minimum investment of $100,000 by the applicant. "
Plans are underway to build in Panama City a mini city estimated at $4.1 billion, which will include areas for logistics, commerce, residential development and city utilities.
The Environmental Impact Assessment (EIA) submitted to the Ministry of Environment in October 2015 by PGC Developers, SA, indicates that the development called "Panama Global City" (PGC), and will be located in the districts of Tocumen, 24 de Diciembre and Pacora, in the district of Panama, Panama Province.
Tax exemptions and other incentives for companies in the industrial sector are part of the proposals in the bill on Industrial Property Law which is being prepared by the government.
Vice Minister of Commerce, Manuel Grimaldo, told Anpanama.com that "... the bill which is being worked on for industry contains some benefits such as tax incentives, and this sector could be paying a 10% tax instead 25% or 30%. "
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