The Congress of El Salvador is evaluating implementing a tax which would in principle would apply only to LaGeo, a subsidiary of the Italian company Enel.
Against the backdrop of the dispute between the Government and the Italian company Enel over the capitalization of the geothermal LaGeo, "...an ad-hoc committee of the Legislature which is studying the LaGeo concession, the only cmpany with state permission to exploit subterranean heat sources, has proposed a series of amendments to the Electricity Law, including a tax that would be incurred by the activity of the geothermal company. "
Inflexible labor legislation is making the textile industry less competitive.
Markets such as Honduras and the Dominican Republic have already had 12-hour working days approved and as a result have seen export orders increase. This in turn has meant more jobs - 10,000 new positions reported in Honduras in August.
Businessmen from both countries met to explore joint investment opportunities.
The event saw the participation of presidents Lula da Silva and Mauricio Funes, as well as several business chambers. The chambers remarked Brazil’s willingness of providing credit for productive projects.
ANEP of El Salvador calculates the trade embargo with Honduras produced $36 million in losses each day for Central America, as calculated globally.
For the Salvadorian textile industry in particular, the border closing meant estimated losses of $1 million in exports and 4,000 workers sat idle, according to calculations from the Salvadorian Chamber of Textile, Confection, and Free Trade Zones Industries (CAMTEX, acronym in Spanish) published in Elsalvador.com. At the same time, the organization estimates that Honduran factories lost $700,000 in exports to El Salvador.
The recovery in tailoring and textile exports is due to cost savings generated by specialization in niche markets and from the integration of the production line.
Data from the Central Reserve Bank indicate that, in 2008, assembly exports increased 12.5% compared to 2007. This growth was encouraged by the specialization of different businesses, which has favored the vertical integration of the sector.
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Industrias Gabriela is a non-woven textile manufacturing company located in Tegucigalpa, Honduras, Central America.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (504) 229-0072
Our mission is to help you in the process of sourcing your trims and notions for your Full Package programs or your CMT Contracts. And be your local supplier for those trims and notions needed in your programs.
Operates in Nicaragua, Honduras, Guatemala and El Salvador
Phone: (504) 617-0591 - (504) 6170592