After the announcement of the Bill that creates the Program for the Modernization of the Logistics Services Infrastructure in the Colon Free Zone in Panama, local businessmen believe that more attractive incentives should be sought.
Last April 28, the Assembly reported that the Minister of Commerce and Industries, Ramon Martinez presented to the plenary of the Legislative Body the bill that creates the Program for the Modernization of the Infrastructure of Logistics Services in the Colon Free Zone (ZLC), and introduces amendments to Law 8 of April 4, 2016.
After the Mayor of Alajuela filed an action of unconstitutionality in Costa Rica to revert the exoneration of real estate taxes applicable to free trade zones, the business sector believes that legal certainty is being undermined.
On March 16, 2021 Humberto Soto, Mayor of the municipality of Alajuela, filed an action of unconstitutionality. This legal recourse has the objective of reverting the exemption that free zones enjoy for the payment of the real estate tax.
The Panamanian government issued a favorable concept for the establishment and operation of five free trade zones in the country, which together project an investment of $22 million.
The free trade zones, which will develop diverse economic activities such as agribusiness, scientific research centers, storage of goods, international trade, fruit processing and agricultural production, among others, will be located in the provinces of Panama, Chiriqui and Herrera, informed the Presidency of Panama.
America Free Zone, located in Heredia, Costa Rica, plans to execute an investment plan in the next few years totaling close to $120 million and contemplates the implementation of electro-lane stations and the construction of new infrastructure.
Executives of the business complex informed that up to now they offer their clients 200 thousand m2 of space for business activities, but the medium-term plans are to add another 60 thousand m2.
In Guatemala, the Miel Verde project, Special Public Economic Zone, was approved. In its first phase of development, it will require an investment of close to $4 million and will be located in the municipality of Río Hondo, department of Zacapa.
The new special zone will have a total area of 23,544 square meters, however, in the first phase only an area of approximately 5,173 square meters will be developed.
In the Dominican Republic, five new companies have approved permits to operate in free trade zones, which together will make an investment of close to $16 million.
Among the activities of approved companies are: manufacture of doors, windows and boxes, international call center services, and textile manufacturing, reported the National Council of Export Processing Zones (CNZFE).
With the reform proposal to the Law of Free Zones presented to Congress, it is intended to reduce from 20 to 10 the requirements that must be met to approve a new free zone.
After several months of working on the proposal to make changes to the law, the file was submitted to the legislative chamber and prepared by the Honduran Maquiladora Association (AHM), the Ministry of Finance, the Central Bank of Honduras and the Ministry of Economic Development (SDE).
The second project was authorized in Guatemala to install a Special Public Economic Development Zone, which will require an initial investment of $16 million and will be located in Pajapita, department of San Marcos.
"Puerta del Istmo" is the name of the industrial park, which will be on a 160-hectare site and will house industrial and logistics companies.
In Panama, a bill is planned to convert the provinces of Los Santos and Herrera into a Special Economic Zone, which will offer tax and labor incentives to companies in the agricultural sector that decide to invest in the area.
Representative Julio Mendoza, of the Democratic Revolutionary Party, announced that in the coming weeks he will present a bill to the Assembly to create the Special Economic Zone of Azuero.
In the Dominican Republic, approvals were granted for the development and operation of four new industrial parks, as well as the respective permits to install 12 new companies in free trade zones.
In the case of the new parks, these will be located in Boca Chica, Valverde, San Cristobal and Santiago, reported the National Council of Export Processing Zones (CNZFE).
Alejandro Giammattei, elected president of Guatemala, will propose to the authorities of the North American country that a special economic zone covering both sides of the border be developed.
Guatemala's president-elect is wasting no time, since four months after taking office, he is already making investment proposals to neighboring countries. In this case, he will do so in Mexico, where on September 20 he will meet with Lopez Obrador and will deliver a file on the issues he proposes to work on in the coming years.
Puerta del Istmo, Centro Logístico Quetzal and ZDEEP Piedras Negras, are the projects advancing in Guatemala in the process of becoming Zones of Special Public Economic Development.
In El Salvador, it is proposed that the law discussed in the Assembly, considers the reduction of minimum requirements for investments made in special economic zones, to compensate for the disadvantages of lack of productive activity in the area.
In July 2018, the Executive Branch presented to the Legislative Assembly the draft Law on Special Economic Zones (LZEE), which is being analyzed by the Economy Commission.
In Guatemala, the regulations governing the tariffs to be applied to users, administrators and economic zones have come into force as part of the new legislation on Special Public Economic Development Zones.
The tariffs that will be applied according to the categories established in the regulation, published in the Diario de Centroamérica on June 28th, were effective.
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