The federal government of El Salvador presented the initiative “Free Zones” to Congress earlier this week. The initiative aims to promote investment and increase job creation.
The government believes that a Free Zones area can serve as an incentive to attract investment and innovation as it will offer exemptions from income tax, tariffs and municipal taxes. Luz Estrella Rodríguez, the Minister of Treasury, specified that this policy will promote specific sectors including tourism, agriculture, aerospace, as well as the generation and development of clean and renewable energy.
