A press release from the Ministry of Foreign Affairs of Costa Rica reads:
COMEX and the China Development Bank have signed agreement to initiate a feasibility study.
On Thursday the President of the Republic, Laura Chinchilla, witnessed the signing of a Framework Agreement between the Ministry of Foreign Trade of Costa Rica and the China Development Bank to prepare a study to analyze the feasibility of developing a Special Economic Zone (SEZ) in our country.
SEZs are industrial parks containing the necessary conditions of infrastructure, logistics and other things conducive to the establishment of companies engaged in the production and export of goods and services. The SEZs have been a key element of the development strategy of the Republic of China, explaining much of the growth achieved in cities like Suzhou, Tianjin and others.
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The agreement between both nations to develop a Special Economic Zone will be completed in less than a year.
The project which the two countries plan to implement in the Central American nation will materialize in less than a year, benefiting sectors such as high-tech and manufacturing.
In January, the island will open a Special Development Zone, where both foreign and Cuban companies will enjoy tax and service benefits.
With an investment of $900 million, the new area will be open next January and will be located near the Gulf of Mexico and linked geographically to the Panama Canal.
Under the name of Special Development Regions (Regiones Especiales de Desarrollo or RED in Spanish) the National Congress of Honduras is debating a new version of the law that creates these special cities.
The bill, which sets out reforms to articles 294, 303 and 329 of the Constitution, was introduced by government minister Rodolfo Irias Navas.
Honduran constitutional amendments passed by Congress have revived the "zones subject to special law regimes".
By a large majority (110 votes to 128), the Honduran Congress approved the modification of three articles of the country’s constitution, giving powers to Congress to create areas subject to special arrangements, referred to as "Model Cities" that were declared unconstitutional last October for being considered "states within a state."