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Colon In Panama Is The Best Free Trade Zone In South America

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The second largest Free Trade Zone in the World is Colon in Panama and that makes Panama very conducive to Foreign as well as Domestic Investments. If you are wondering what Free Trade Zones are, then you must know that these are labor concentrated manufacturing centers, which make the import of raw materials and the export of factory products possible. The factories located within these zones are enjoy tax-benefits from the government and in turn helps the economy with employment and foreign income. Here, in these export-processing free-trade zones, tariffs and quotas find no place. Moreover, bureaucratic requirements are minimized in order to draw in companies by means of increasing the incentives for carrying out business there.

You will find most of the free trade zones in developing countries. This is mainly to be a magnet for employers and a result to find a way out to win over poverty and unemployment. And how about stimulating the area's economy for that matter? Multinational as well small corporations has occupied Colon, Panama Free-Trade Zone and have established factories to manufacture goods all over the world.

Free Trade Zone In Colon, Panama – Know-how

On the Caribbean Sea coast of Panama, lays a seaport in the name of Colon. Colon is not only a vital port but also a commercial center and not to mention a much loved tourist spot. It was in 1953, that Colon became a free trade zone. When it comes to import and re-export of merchandise, Colon in Panama is the best place to go about. This main port in Panama is unquestionably the most significant free trade zone as far as the western world is concerned. It is also the second largest import / distribution center in the entire world.

Interestingly, it is found that all commodities from raw materials to machinery, can be imported, stored, modified, distributed, processed, assembled, re-packed and then re-exported with no customs duties whatsoever.

What makes Panama the ideal place?

Panama is the ideal place – it is a commercial empire. Statistics say that the Free Trade Zone i.e. the Colon City in Panama is the second most significant trade center of the World subsequent to Hong Kong. Panama is no doubt strategically positioned and with myriad Panamanian banks, it just goes another step ahead. Panamanian money and dollars for that matter is also appreciable.

Beyond all of that, you will also find that costs are certainly lower if compared to some of the other places. Not just that, once you are investing you will note less bureaucracy and on top of that less interference with the local authorities.

You would not require any particular permit before you invest in the Republic of Panama. Moreover, this region is known for its low cost of living and low operational cost. Colon in Panama is indeed best Free Trade Zone in this part of the world and is most qualified for investment opportunities. Colon in Panama has indeed fostered the economy of the city to a great extent.

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