"Honduras is Open for Business"

The Government of Honduras announced an aggressive plan for legal reform and a campaign to promote the country as an investment destination.

Monday, January 24, 2011

With the launch of web portal "Honduras is open for business" and a video of a speech by President Porfirio Lobo the Honduran Government announced the National Investment Promotion program 2010-2014, named "The high point of a deep institutional and legal reform to position Honduras as the most attractive investment destination in Latin America.”

During May 5 and 6 in San Pedro Sula, at the Expocentro fairgrounds, an event will take place including Exporters, Business Roundtables and an international business forum, in which participation of former U.S. President William Jefferson Clinton, former president of Colombia, Álvaro Uribe Vélez, Mexican businessman Carlos Slim and the president of the Inter-American Development Bank, IDB, Luis Alberto Moreno, is expected.

In search for accelerated economic and social development, the National Congress of Honduras, adopted January 19, 2011, the possibility of Special Development Regions, in order to accelerate the adoption of technologies to produce and deliver services with high added value, so to attract domestic and foreign investment necessary to grow rapidly, reduce social inequalities and in general, improvement of living conditions in the region.

The systems implemented in the Special Development Regions shall be authorized by a constitutional statute approved by Congress with a qualified majority of two thirds of all its members and can only be amended by Congress with the same terms as its approval.

Approval of Special Development Regions brought constitutional reforms, thus enabling signature of treaties and international agreements on issues related to trade and cooperation.

This recently approved decree must be ratified by the next legislature.

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More on this topic

Green Light in Honduras for "Charter Cities"

January 2013

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."

'Charter City' Project Revived in Honduras

January 2013

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.

Seoul to Assist Honduras on "Charter Cities"

February 2011

The countries agreed to cooperate in the development of special management areas in Honduras.

"Charter Cities" are development-oriented, and the objective pursued by President Porfirio Lobo is to encourage domestic and foreign investment.

"During their meeting, Wolf and Lee agreed to cooperate in the development of such plans for special areas in Honduras and seek ways to collaborate in trade, investment, education, health and infrastructure development in the Central American country," Terra.com informs.

Honduran Congress Approves Draft of 'Model City'

January 2011

With support from most of the 128 deputies from five political parties, Congress approved the project submitted by the Executive branch.

The decree will allow construction of the first Model City, to be built on the Honduran Atlantic area, becoming a legal entity in itself and with its own administration system.

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