Despite opposition from the business sector, the government has frozen the prices of 20 basic food products and is considering including more.
The products included in the price stability agreement are: beef, pork, chicken, sausages, eggs, bell peppers, onions, tomatoes, potatoes, carrots, squash, coffee, rice, beans, corn, wheat and corn flour, butter, milk, sugar and banana leaves, and their derivatives.
The Honduran government has announced that it has signed an agreement with the italian Goldlake Group, to build a cement plant, with an estimated value of $200 million.
From a statement issued by the Presidency of Honduras:
Within the framework of the VII Italian-American Latin America and the Caribbean Conference, and with President Juan Orlando Hernandez as a witness of honor, the Government of Honduras also today signed an agreement with the Italian group Goldlake for the construction of a new cement plant in the country, at a cost of 200 million dollars.
Despite opposition from the construction sector, the Ministry of Economic Development increased tariffs on imports of Chinese iron rods from 15% to 35%.
Authorities at the Ministry of Economic Development (SDE) argue that this temporary measure, seeks to protect the companies Aceros Alfa and Aceros Centro Caribe, which produce the rods. Domestic production of iron rod covers approximately 70% of demand and the rest is imported from China.
The government has set maximum prices that may be marketed, for the next 30 days, on fifteen basic food products, including pork, eggs, beans and coffee.
The Ministry of Economic Development has classified the most consumed products at this time of year in order to avoid increases and maintain price stability. The measure takes effect from today in all markets in Honduras.
The private sector is opposed to the government's proposal to freeze prices for a group of consumer products.
Employers propose replacing the price freeze measure with the establishment of a suggested price for products that are included in the basic basket and the further strengthening inspection measures at points of sales, so that prices remain stable.
Businessmen from the sector are complaining about continued delays in the discussion of legislation regulating the marketing and pricing in the fuel distribution business.
Lack of consensus last year among all companies in the sector for importing and distributing fuels regarding the opening of gas stations led to the draft law intended to regulate the sector not getting to Congress for discussion ..
In order to ensure supply for the domestic market, the government has announced that it is negotiating grain imports from Colombia and Ethiopia.
Given the reduction in the harvest in the months of December 2013 and January 2014, the Government of Honduras has announced that it will resort to importing beans as part of a strategic plan to ensure supplies in the coming months.
The government has announced that the tender for $300 million being prepared for the coming months will be awarded in October and November and the works will be carried out using public-private partnerships.
Investors in the United States, Mexico and China have expressed interest in participating in the bidding process for the construction of two mills located in Olancho, with which the government will seek to increase exports of sugar. The government announced plans to select companies between October and November and begin construction in 2015.
The government plans to generate $5 billion in investments from local and foreign companies in the eight most important sectors of the economy.
The areas of energy, construction and housing, tourism, agribusiness, mining and petroleum, infrastructure and manufacturing, maquila and forestry were identified by the government as the production sectors that contribute most to the economy.
A new biofuelslaw pending publication includes price incentives and blending gasoline with 5% ethanol.
In addition to price parity with traditional gasoline, the amendment to the Law for Biofuel Production and Consumption includes other incentives related to the availability of specific land for cultivation of oil palm and sugarcane.
The rise in interest rates and lowering of the timeframes adopted by the government of Venezuela means that Honduras will have to seek other options for purchasing fuel.
According to Alden Rivera, Secretary of Economic Development, Petrocaribefuel is no longer cheap and no longer attractive to Honduras. The increase in interest rates and reduction of timeframes is forcing the country to seek alternatives for buying fuel.
The private sector and the government are developing a plan to maintain competitiveness and minimize the effect of the zero tariff entry of textiles to the U.S. market from Vietnam.
The program being worked on is called 'Total Occupancy of Industrial Parks'. The plan involves reducing the cost of electricity in the maquila parks, developing a project for generation which will devote its production to industrial parks and offer "in the case of new projects, a discounted rate (per kilowatt)".