Nicaragua: Streamlined Procedures in Free ZonesTuesday, July 12, 2011 The reactivation of the Comisión Aduanera de Zonas Francas (Customs Free Zone Comission) will speed up the processing of this sector's imports and exports. The executive director of the Nicaraguan Association of Textiles, Anitec, Dean Garcia Foster, said that in addition to streamlining procedures it will also create savings in operating costs. Panama: Draft on Free Zones Law ApprovedFriday, December 3, 2010 The project approved by the Executive establishes a comprehensive and simplified special scheme for establishment and operation of free zones. The initiative, presented by Roberto Henriquez, Minister of Trade and Industry, seeks, among other objectives, to adapt national legislation to requirements of the World Trade Organization (WTO). El Salvador: New Proposal To Replace Free Zone RegimeThursday, February 25, 2010 The Textile, Apparel and Free Zone Chamber will propose a replacement for the current Free Zone regime. Patricia Figueroa, director of the Chamber, didn't provide details on which benefits will be included in the proposal. 24 Maquilas Close in HondurasThursday, April 23, 2009 With the closing of enterprises during 2008 and so far in 2009, 20 thousand people were left unemployed. Most of the businesses operated in free trade zones or industrial parks. Currently, of the one million square meters available in the the 27 parks and free zones, 250 thousand (25%) are unoccupied. Free Zones: Exports Slow DownThursday, September 13, 2018 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%. No Changes to be Made to Costa Rica's Free ZonesWednesday, July 22, 2015 Once again the Presidency has spoken out to calm investors denying the insinuations of a Deputy Minister related to opening up the discussion on the free trade zone regime. According to an article in Crhoy.com, the Deputy Minister of Labour, Harold Villegas, mentioned in the framework of the International Forum of Social Solidarity Economy that "as a society we should discuss the activities that should or should not be tax-free and although free zones functioned well in a moment of history, it's time to move towards a system of greater tax justice and for a more open discussion to take place. " Success of Free Zone Regime in Costa RicaTuesday, July 22, 2014 In the last four years since the reform of the law in 2009, 132 companies registered to operate under this tax exemption scheme. Since 2009 companies eligible under the free zone regime "... must be included in one or more of the categories set out in the law, including: handling, processing, manufacturing, production, repair and maintenance of goods, repacking and redistribution of goods and provision of services for export or re-export. " Free Zones Act Advances in El SalvadorThursday, May 19, 2011 Government and private company representatives have achieved an 80% consensus on the new draft law on Free Zones. So says the executive director of the Chamber of the Textiles, Clothing and Free Zones (CAMTEX), Patricia Figueroa, without providing specific details on the proposals. Free Zones in Nicaragua GrowingMonday, March 19, 2012 The growth is reflected in the steady growth in employment in production firms operating under the regime, which together exceed 100 thousand jobs. The number of employees in factories in free zones reached 103,000 people in March, a record for the sector in Nicaragua, said Alvaro Baltodano, President of the National Free Zone Commission, CNZF. There are 68,019 employees in the textile sector alone. Pressure from the OECD and the Free Trade ZonesWednesday, April 8, 2009 Given the commitment by Costa Rica to make its tax system more transparent, the private sector reiterated the need to change the rules for the Free Trade Zones. Companies have requested for the Government to start a bill in the legislature to reform the free trade zone rules. This reform would allow companies operating under the free trade zone scheme to meet the requirements of the World Trade Organization (OMC). El Salvador: Textile Companies Oppose 5% TaxThursday, February 14, 2013 The Chamber of Textile, Clothing Companies and Free Zones states that if the new law on Free Zone included the tax, it would drive away millions of dollars in investments. Elmundo.com.sv reports that "The Chamber of Textile, Clothing Companies and Free Zones of El Salvador (Camtex) on Wednesday opposed changes made by the Finance Minister Carlos Cáceres to the proposed amendments to the Law on Free Zones, agreed with the sector since October 2011." Guatemala: Free Zones Situation Gets More ComplicatedFriday, May 27, 2016 It has been reported that one of the 17 free zones operating in the country has started the process of closing its operations entirely due to the legal uncertainty generated by the emergent employment law. Companies operating in free zones have spent several months denouncing the serious situation they have faced since the Emergent Act for the Conservation of Employment was implemented, instead of encouraging investment and job creation, it has become a good example of how to discourage investment in a country. Investment in Free Zones in NicaraguaFriday, February 28, 2014 The union of Private Free Zones plans to build five new business parks in 2014. In 2014 the plan is to supercede the investment of $150 million which was made in 2013, with the implementation and establishment of new zones to boost the arrival of new businesses in sectors such Chontales where there is a new bridge over the San Juan river and the new Acoyapa-San Carlos road which is an export route for Puerto Limon, Costa Rica. Free Trade Zones: More Companies and Industrial ParksFriday, October 4, 2019 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). Panama: Improvements to Free Zones LawTuesday, January 20, 2015 An initiative from the panamanian private sector seeks to simplify the law, providing investment incentives for a period of not less than 10 years and expediting the approval of operating licenses. Other proposals covered in this law reform include the creation of the National Council of Free Zones, the aim of which is to be the sole supervisor of the sector. |
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