The National Executive Branch authorized this Wednesday (10.07.2024) an extension that extends for 8 years the concession for the Construction, Maintenance, Administration and Exploitation of the Puerto Iguazú Free Trade Zone, in northeastern Argentina.
This is indicated by one Resolution 556 / 2024 of the Ministry of Economy signed by Luis Andrés Caputo and published in the Official Gazette.
According to the document, following a request from the Governor of the Province of Misiones, Hugo Mario Passalacqua, Such extension is accepted for 8 years from the expiration of the concession period provided for in Resolution No. 678/1999, that is, from February 9, 2030.
The decision is based, according to the Executive, on the “anticipation” of this request and on the “arguments put forward both in the note from the Governor and in the Minutes of the Surveillance Committee, which states that the concessionaire company has complied with the obligations arising from the concession”, which is consistent with the objectives of the Free Trade Zone Law.
According to the resolution, the concession was awarded to the group comprising London Supply Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria – Miyar, Unión Temporia de Empresas.
The document also states that “the extension is convenient for the development of the Free Trade Zone and there are no technical obstacles to its granting.”
In this regard, it is worth noting that the Puerto Iguazú Free Trade Zone is a perfectly demarcated area or portion of territory as defined by Article 590 of the Customs Code; its profile is intended to develop storage, commercial, service and industrial activities.
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