Monsú is the country’s first Megapark located in the Colombian Caribbean Coast. Its vision is to become the benchmark for competitiveness and bring solutions to companies that need to develop new markets.
By: Juan Pablo Rivera, President ZFB Group
Published in Amcham Colombia Business Express, available here
Monsú offers attractive options to boost investments It is the country’s first Megapark with 32 hectares of free trade zone to provide investors with the advantage of the legal tax benefits offered by Colombia’s Free Zone regime, leveraging competitiveness and giving access to differential rates. This 5-in-1 mega-project combines industrial and commercial cooperation between the different zones: Free Zone (32.1 hectares), Logistics Activity Zone + Business Park (25 hectares), High Impact Industrial Park (32.5 hectares), Business Services Area (9.1 hectares), and Expansion Zone (20.6 Hectares). Therefore, it is a relevant option as a global business platform that is capable of offering lots, warehouses and large yards in its first stage of development with the highest international standards of commerce infrastructure.
Some of its benefits are: 1) an income tax rate of 14% below the rest of the zones of the country (34%) with no custom duties nor aggregated taxes (VAT & tariffs) for goods entering the free zone from abroad, 2) no parafiscal contributions (equivalent to 9% of the payroll) and 3) 100% of VAT exemption (19%) for raw materials, inputs and finished goods acquired in Colombia. As a result, the entire value chain can be optimized just by using promotional tools for international trade as well as purchases at lower costs, high product quality and short delivery times.
Monsú also takes advantage of local tax incentives due to its strategic location in the Colombian Caribbean Coast (18 miles from Cartagena and 62 miles from Barranquilla, which are the main seaports of the region). This area established important tax breaks (up to 10 years) such as commercial operation and property taxes exemptions, as well as tax discounts that are applicable to new constructions in each of the zones mentioned above, simply by having an approved construction license.
A smart decision for all type of companies
In 2017, ZFB started its pre-sale process with seven hectares that are ready to be occupied by companies from logistics, trade, manufacturing and many other industries that provide different types of products and services from a wide range of economic sectors. Previous organizations from industries such as petrochemical, metallurgical, construction, plastic, and food, among others have also been involved as the price of land per square meter is very competitive compared to Mexico and Central America. Currently, Monsú is home to companies like Cemex, the multinational building materials enterprise, which has a strong presence in the region with a 50 million dollar production plant, as well as Puma Energy, an international oil company which will start to build an oil station in the first half of the year.
The construction, promotion and operation of Monsú, is backed by ZFB Group, an accredited member with 20 years of experience in the construction and real estate sector, and the leader in managing and developing competitive environments for businesses in Colombia. In 2016 alone, ZFB made 654,827 trade operations in 6 permanent Free Trade Zones and 30 Special Free Zones which represented 35% of the free trade zones of Colombia. Over the years, ZFB has built 270,000 m² around the country in Cartagena at la Candelaria Free Trade Zone, in Cali at the Pacifico Free Trade zone, in Cauca at Cauca Free Trade zone and Barranquilla at Palermo Free Trade Zone.
Juan Pablo Rivera Cabal, CEO of ZFB Group, expressed that “in the midst of the new tributary reform and the peace agreement scenario in Colombia, Monsú will be a great option as a destination for new foreign investment, taking into account the advantages and built capacities that the Caribbean region has to offer today”. Therefore, Monsú remains a great proposal to generate value and increase competitiveness in your business.