Activity in the Colon Free Zone Falls 10% in 2019

Wednesday, February 26, 2020

Last year the commercial activity of the Panamanian Free Zone totaled $18,469 million, 10% less than what was reported in 2018.

From January to December 2019 imports in the Colon Free Zone (CFZ) totaled $8,655 million, and re-exports totaled $9,814 million, decreasing by 11% and 9% compared to the same period in 2018, respectively.

More Investments in Free Trade Zones Authorized

Tuesday, December 10, 2019

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).

Free Zone Law Moves Forward in Costa Rica

Wednesday, September 9, 2009

The Economy Commission approved the project, which now moves on to the legislative plenary.

Companies located in the Greater Metropolitan Area (GAM) will have to pay 6% income tax for the first 8 years and 15% for the following 4.

"Representatives included a transitory article, under which the state will have 4 years to foster the installation of industrial parks or modernizing the existing ones in Limón, Puntarenas, the south zone, Liberia and the north of the country", reports Nacion.com.

Costa Rica: Modifications to Free Port Law Project

Thursday, August 13, 2009

Suppliers selling at least 40% of their production to free port companies will enjoy the benefits of the tax regime.

Previously, the benefits were granted to suppliers with "a significant portion", without establishing percentages, a far too wide concept.

"Free port companies currently don't pay any income taxes. Under the law project, companies investing in localities with less relative development will pay 5% for the first 12 years, and 15% the following 6 years", reported website ElFinancierocr.com. "For investments in areas of higher relative development, income tax would be 5% for the first 8 years and 15% for the following 4".

Benefits Extended to Free Zone Companies

Tuesday, February 11, 2020

In Honduras, a law reform was approved that simplifies the procedures that local and foreign companies must follow to take advantage of the Free Zone Law and extends for 15 more years the benefits that it grants to the companies of the regime.

From the National Congress of Honduras' statement:

Conference Zones in Panama

Monday, October 27, 2014

From 12 to 14 November representatives from free zones in Latin America will be gathering together in Panama City to discuss issues such as changes in legislation and the role of free zones in the logistics chain.

Panama: A Unique Free Zone Law

Thursday, October 22, 2015

The private sector is calling for a unique legislation that guarantees equal access to free zone regimes both for domestic and foreign companies.

From a statement issued by the Panamanian Association of Business Executives (APEDA):

The Panamanian Association of Business Executives (APEDE), along with several sectors of the country is concerned about the economic crisis affecting enterprises and workers in the Colon Free Zone, for which reason it is states that it is of the utmost importance to have a dialogue between all parties as this would allow progress to be made to moving towards a single framework law on free zones in our country.

Update on Free Zones in Costa Rica

Thursday, August 18, 2016

In 2015 331 active companies were registered, of which 52% are devoted to services, 45% to manufacturing and the remaining 2% to the food industry.

From the executive summary of the study by PROCOMER "Balance of Free Zones: Net profit regime for Costa Rica 2011-2015":

Costa Rica: Investment Encouraged East of San Jose

Thursday, November 3, 2011

An economic coalition has been set up to promote investment and create jobs in the country's old capital of Cartago.

The over-supply of office space in the west of the Costa Rican capital has led to increased growth in the east where it is becoming more and more common to see new real estate developments such as offices and malls.

This backdrop has led the region's main university, in partnership with the chamber of commerce and the administrative board of the regional electricity supplier (Jasec in Spanish), to create the Cartago Special Economic Zone. They hope this will encourage investment.

Analysis of the Panamanian Law on Free Zones

Monday, September 12, 2011

The goal of the new law is to provide optimal conditions for generating maximum efficiency and competitiveness.

In April this year a new law was approved governing the operation of free zones in the country, where many foreign companies have decided to settle because of the benefits the scheme provides.

The new law aims to establish a framework within which these workspaces will operate, ranging from the kind of activities that can be developed there, the systems that can be installed to the legal conditions that must be met.

Colon Free Zone Focuses on the Caribbean

Friday, December 13, 2019

Faced with the decline in commercial activity in the Panamanian Free Trade Zone, its directors are looking for new business opportunities in markets in the Caribbean.

In the first seven months of 2019, commercial activity in the Colon Free Zone (ZLC) totaled $10.782 million, 14% less than in the same period in 2018. Imports totaled $5.224 million, and re-exports totaled $5.557 million, decreasing by 12% and 16% compared to the same period in 2018, respectively.

Honduras: Reform to the Free Zones Law

Wednesday, December 4, 2019

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).

Red Numbers Still in Colon Free Zone

Thursday, September 26, 2019

In the first seven months of 2019, the commercial activity of the Panamanian Free Trade Zone totaled $10.782 million, 14% less than in the same period of 2018.

From January to July, imports in the Colon Free Zone (ZLC) totaled $5.224 million, and re-exports amounted to $5.557 million, decreasing by 12% and 16% compared to the same period in 2018, respectively.

Drop in Costs at Salvadoran Customs Offices

Friday, January 5, 2018

With the modification of the Free Zones Law, it will now be possible to accumulate up to 25 samples which do not have a commercial value in a single declaration.

Jaime Campos, executive director of the Regulatory Improvement Organization, told Elmundo.sv that the reform "... 'will help the investment climate in the country' because the reform introduces the concept of the 'accumulated goods declaration', which will allow imports or exports of up to 25 samples in a single declaration."

New Free Trade Zones Announced in Nicaragua

Monday, January 30, 2017

Vice president Rosario Murillo gave details on 10 new projects to be executed in the next six months for free zones dedicated to different productive activities.

The 10 projects announced are: