In Colombia , the Free Trade Zone regime has delivered great benefits and social development to the regions where they are located.
Since this model was implemented in the country more than 60 years ago, it has evolved through new international trends and has been accompanied by a legal framework that has paved the way for our country to become a radar for world-class investors today.
In fact, this sector boasts a workforce of over 136.000 and has generated approximately $48 billion in investments over the past decade. In Mosquera , for example, since we began operations, we have invested over 184 billion pesos, creating more than 7800 direct and indirect jobs in the region and the country.
(See also: https://zonafrancaoccidente.com/las-prorrogas-de-zonas-francas-prenden-motores/)
Thus, measures taken by the National Government , such as extending the declaration period to 30 years for permanent free trade zones, have sent a message of greater security to the regime and have allowed the creation of mechanisms for these zones to increase the potential necessary to enter the major global chains.
In the case of the Western Free Zone (ZFO), the recently granted extension estimates an investment of $500 million in the first 10 years and will, in turn, translate into the creation of around 33 direct jobs and 50 indirect jobs for both the municipality of Mosquera and the entire country.
And I want to dwell on this, because while it's very good news for Colombians, it demonstrates a genuine and real commitment from all the business investors who see Colombia as an opportunity to expand their operations. This firm commitment has been reinforced by ZFO users from multiple economic sectors with investments exceeding the agreed-upon amount.
This is explained, in other words, by the fact that for this type of extension, a very rigorous master plan must be submitted to the Ministry of Industry and Commerce, verifying a minimum investment of 33 billion pesos. However, this plan has an additional projection by users, which, as I mentioned, ranges from approximately half a million dollars.
These are projections that, for example, will help the municipality become one of the regions with the lowest unemployment rate. This will create a virtuous cycle in which industrial demand leads to a better-qualified workforce, which in turn will further support the growing industry, stimulating an increase in the skilled labor supply.
The commitment to employment is fundamental for any free trade zone , since it benefits the communities around the park and the execution of the investment will generate positive externalities such as the hiring of personnel from the municipality and the Western region, as well as training and technology transfer.
In this sense, the results and contributions generated by the Free Trade Zones are key to the reactivation stage of Colombia 's economy , even more so because the aforementioned extensions are equivalent to the constitution of a legal framework that will guarantee that beyond generating high foreign investments for the national economy, it will bring with it multiple advantages, mainly by transforming the peripheral areas where they are located and turning them into development hubs that strengthen infrastructure, education, workforce inclusion, technology, among others.