Economic Development Zone Begins Operations

Monday, November 30, 2020

In Guatemala, the "Puerta del Istmo", a Special Public Economic Development Zone located in Pajapita, department of San Marcos, began operating.

In October 2019 CentralAmericaData reported that Guatemalan authorities had approved the operation of a Special Public Economic Development Zone (ZDEEP) called "Puerta del Istmo". The complex located in San Marcos became the second EPZ to receive approval, as the first to be approved was "Michatoya Pacifico."

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".

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.

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:

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."

Locally Added Value in Free Zones

Monday, October 22, 2012

In Central America, the local contribution to free zone exports was $4.1 billion in 2011, or 26.3% of total exports.

Honduras had the highest local contribution in relative terms, 35.9%, followed by El Salvador with 28.9% , Nicaragua (28%), Costa Rica (26.1%), Guatemala (16.5%) and Panama (7,1%).

Within Latin America, the best positioned, according to an ECLAC report, was Uruguay, with a local contribution that account for 61.2% of total exports under this scheme.

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).

Reform of Rules for Free Zones

Monday, November 20, 2017

In Costa Rica an amendment to the regulations of the Free Trade Zone Law is under public consultation until November 25.

From a statement issued by PROCOMER:

Trade Increase at Colon Free Zone

Monday, January 24, 2011

In November 2010 the CFZ increased its sales by $ 1.84 million compared to 2009.

The statistics by the Comptroller General showed sales until November 2010 of $ 19.9 million, compared to the $ 18.09 million of the same period last year.

"The report shows an annual percentage change of 10.2% and 47.2% monthly, which indicates that November was the fastest growing month”, reports Panama America.

Nicaragua: 8.25% Increase in Wages in Free Zones

Thursday, June 8, 2017

From January 2018 until 2022, there will be an annual increase of 8.25% in the wages of workers in free zone companies.

The agreement will be valid for five years and will come into effect from January 1, 2018. 

Laprensa.com.ni reports that "...Currently the minimum wage in force in a free zone is US $180, and when the adjustment is applied next year it will go up to approximately US $195".