Approval for First Economic Development Zone
Thursday, April 11, 2019
In Guatemala, the first project to install a Special Public Economic Development Zone was approved, which will require a $14 million investment and will be on the Highway to Puerto Quetzal, Escuintla.
The name of the industrial park, which will be on a 150-hectare site and will house industrial, commercial and service sector companies, is "Michatoya Pacífico" and will require an initial investment of $13.8 million.

You may be interested in "Incentives That Work"

The project, which is promoted by the company Administradora Logística del Pacífico, Sociedad Anónima, was approved last week by the Board of Directors of the Zona de Libre Industria y Comercio Santo Tomás de Castilla (Zolic).

Prensalibre.com reports that "... The focus will be mainly industrial, activity for which 93.67% of the project area will be allocated, in addition to trade, 1.71% and services 5.72%."

Also see "Tax Benefits for Companies in Special Zones"

Juan Carlos Tefel, president of the Guatemalan Chamber of Industry (CIG), said that "... these areas, like the one recently approved in Michatoya, are necessary to be able to compete with other countries both in attracting investment and in production for export. It is satisfying that Zolic leaves his traditional figure and these options are extended to the whole country."

Source: prensalibre.com
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Source: prensalibre.com
More on this topic
New Economic Development Zone Endorsed
December 2020
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.
Economic Development Zone Begins Operations
November 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 CentralAmerica
Data
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."
Second Economic Development Zone Approved
October 2019
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 its first phase it will require a $4 million investment and in its second phase it plans to invest $12 million.
Incentives That Work
March 2019
In Guatemala, five private projects to build economic development zones are already in the process of being processed, only two months after the regulation defining the fiscal benefits to develop them came into force.
On February 4, the Law on Special Public Economic Development Zones (ZDEEP) came into effect, which provides for tax benefits consisting of a 10-year exemption from 100% income tax, as well as the temporary suspension of taxes associated with imports, among others.
Key entities
Zona Libre de Industria y Comercio Chamber of Industry of Guatemala Administradora Logística del Pacífico, Sociedad Anónima Juan Carlos Tefel
Countries
Guatemala
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