Zolic
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Zolic
Zolic (Spanish: Zona Libre de Industria y Comercio) is Guatemalas´ free trade zone for industry and commerce. It is located next to the seaport of Santo Tomás de Castilla in the department of Izabal. It is a logistics and operations centre for international trade. It went into service in 1981. The area comprises 22.000 m2 of stockroom and 53.000 m2 of open terrai External links official website Special economic zones Economy of Guatemala {{guatemala-stub ...
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Santo Tomás De Castilla
Santo Tomás de Castilla, officially known as Mátías de Gálvez though it popularly retains its former name, is a port city in the Izabal Department, Guatemala. It lies at Amatique Bay off the Gulf of Honduras and is administratively a part of Puerto Barrios. Belgian colony In the 1840s Santo Tomás was settled by Belgians in a colonial enterprise after the European nation supported Rafael Carrera in his drive for independence of the country."Santo Tomas de Castilla
''Encyclopaedia Britannica
The territory was authorized in 1843 "in perpetuity" by the Guatemalan parliament to be administered by the ''Compagnie belge de colonisation'', a private Belgian company under the protection of King Leopold I ...
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Izabal Department
Izabal () is one of the 22 departments of Guatemala. Its coastal areas form part of the homeland of the Garifuna people. Izabal is bordered to the north by Belize, to the north east by the Gulf of Honduras, and to the east by Honduras, and by the Guatemalan departments of Petén to the north west, Alta Verapaz to the west, and Zacapa to the south. The Izabal Department surrounds Lake Izabal (or Lago de Izabal), Guatemala's largest lake (about 48 km long and 24 km wide, with an area of about 590 km²). The Spanish Colonial fort of San Felipe, now a Guatemalan national monument, overlooks the point where the lake flows into the Río Dulce. The small town of Izabal is on the south shore of the lake; before the construction of the ports of Livingston and Puerto Barrios in the 19th century this was Guatemala's main Caribbean Sea port and was the original seat of Izabal department; nowadays, however, Izabal town is a remote village that gets little traffic. From th ...
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Guatemala
Guatemala ( ; ), officially the Republic of Guatemala ( es, República de Guatemala, links=no), is a country in Central America. It is bordered to the north and west by Mexico; to the northeast by Belize and the Caribbean; to the east by Honduras; to the southeast by El Salvador and to the south by the Pacific Ocean. With an estimated population of around million, Guatemala is the most populous country in Central America and the 11th most populous country in the Americas. It is a representative democracy with its capital and largest city being Nueva Guatemala de la Asunción, also known as Guatemala City, the most populous city in Central America. The territory of modern Guatemala hosted the core of the Maya civilization, which extended across Mesoamerica. In the 16th century, most of this area was conquered by the Spanish and claimed as part of the viceroyalty of New Spain. Guatemala attained independence in 1821 from Spain and Mexico. In 1823, it became part of the Fe ...
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Special Economic Zones
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation. The creation of special economic zones by the host country may be motivated by the desire to attract foreign direct investment (FDI). The benefits a company gains by being in a special economic zone may mean that it can produce and trade goods at a lower price, aimed at being globally competitive. In some countries, the zones have been criticized for being l ...
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