New $50 Million VIP Free Zone Touted for Belize-Mexico Border Belizean
go to original January 5, 2014

A new VIP area in the Corozal Free Zone on the border between Mexico and Belize will start construction in 2014 according to Belize’s consul in Quintana Roo Jorge Valencia. Speaking to the Mexican newspaper La Verdad, Mr. Valecia is quoted as saying that the facility will feature genuine luxury goods, in contrast to the cheap knock offs currently featured in the old free zone. The consul said that the first phase of the facility will cost U.S. $50 million, financed by U.S. nationals.

He said that the investment will be fully private and aims to offer quality items to buyers because it is recognized that in recent years the old free zone has declined in quality. He said that recently the project changed owners, which led to a delay in the commencement of construction.

“The project has change owners and the new owners are doing a review, in that they are right now and we hope that concrete construction to begins next year. The investment announced for the first stage is approximately 50 million dollars”, he said.

Read the rest at Belizean

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