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).
With the deadline for Congress to approve the 2020 public budget expiring, the Guatemalan government must work with the 2019 budget, so some investments in public infrastructure could come to a halt in the first months of the year.
Last November 30, the deadline for the Congress of the Republic to approve the draft budget of income and expenditures of the nation for 2020, which amounted to Q91.9 billion ($11.9 billion) and was not endorsed by most deputies.
ETAfashion, dedicated to the sale of clothing, shoes and accessories, opened its second store in Costa Rica, in the Central Avenue of San Jose, in the old building of the Lehmann Bookstore.
Prior to the launch of its new store, the company operated a single sales point, which is located in the Lincoln Plaza shopping center in Moravia.
The group formed by Garnier & Garnier Desarrollos and Enjoy Group acquired 100% of the shares of Hotel Punta Islita, which is located in Guanacaste and was previously owned by Grupo Islita.
The companies participating in the transaction informed through a statement dated November 1, that after the sale of the hotel, the enclosure will undergo a process of improvement and expansion.
In order to attract tourism from Costa Rica, in the Panamanian province of Chiriqui, investments have been made in the construction of new shopping centers and the expansion of some existing ones.
In addition to plans to modernize the border crossings between the two countries, whose works will favor the transit of tourism, businessmen estimate that in the construction and renovation of shopping centers, Chiriqui has hoarded investments in excess of $500 million.
Chevron's $7 million investment in the Acajutla terminal in El Salvador increased its fuel storage capacity from 300,000 to 450,000 barrels.
As announced in 2016, the investment in the plant expansion consisted of the construction of two tanks, each with a storage capacity of 75,000 barrels.
Strengthening government institutions in the areas of contract enforcement, property rights protection and investor protection are part of the recommendations made by the IMF in its most recent visit to the country.
According to the international organization, policies to regain the confidence of the private sector, including a frank assessment of the impact of recent measures, are essential to promote economic recovery and compensate for increased poverty. In the short term, strengthening government institutions in the areas of contract enforcement and efficiency of the legal framework for dispute resolution, protection of property rights, investor protection, property registration, and insolvency resolution could significantly improve the country's competitiveness.
In Costa Rica, Concasa announced that it plans to invest $73 million in the development of four housing projects, which will be developed in the course of 2020 and 2021.
Company executives reported that the first project they will develop is called "Monte Alto", which is a complex of nine apartment towers, located in Curridabat and construction will begin in January 2020. For this project the company will invest $40 million.
The U.S. restaurant chain Olive Garden plans to open its first restaurant in the country in July 2020, and for 2021 and 2022 it plans to open two more points of attention.
The first location to be opened by the investment group AR Holdings, a member of Grupo Promerica, will be 450 square meters and will be in Escazu, and the estimated investment for this restaurant is $1.3 million.
A multipurpose tower in El Salvador, a logistics park in Panama and a corporate center in Guatemala are part of the investments planned for the coming months in Central America.
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 constructionprojects that are planned to be built soon.
Grupo Britt invested $7 million in the construction of its new 3,000-square-meter corporate center, located in the canton of Barva, in the province of Heredia.
Managers of the business group, which has presence in 13 countries, reported that the new building houses the service centers of the companies Café Britt and Morpho Travel Retail.
In Costa Rica, the company Matra, dedicated to the commercialization of machinery, invested $25 million in its new facilities in Coyol, Alajuela, with a construction area of 17 thousand m2.
The new facilities were built on a six-hectare site and include a truck workshop, paint shop, warehouse, offices, rental, exhibition area and machinery house.
The Mexican Volaris announced that so far, they do not plan to execute any growth plan in Costa Rica, because operating costs in the country will rise considerably in 2020.
Managers of the low-cost airline said that the increase in fares to Juan Santamaria airport scheduled for next year will represent a 59% increase in the operation cost of the company in the country.
The Walmart chain is investing in the construction of a new supermarket in Santa Ana, El Salvador, which will have a sales hall of 4,600 square meters.
According to information revealed by the company's directors, the new sales point, which is being built on a 15,000-square-meter site, will have a parking lot with capacity for 149 vehicles.
The high energy tariffs paid in Costa Rica compared to other countries in the region and the effects of the monopoly that exists in electricity generation are threats to the local economy and future investments.
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