Honduran Companies Migrate to Mexico and Nicaragua

Harassment and a business climate of animosity in the country has forced 25 Honduran companies migrate to Mexico and Nicaragua.

Friday, March 22, 2013

Latribuna.hn reports that "15 of them moved to Nicaragua and the rest to Mexico to the Yucatan area, because they have found better conditions to invest and grow, therefore, the National Association of Industrialists (ANDI), is anlaysing setting up branches in these places in order to continue serving its members. "

ANDI's President, Adolfo Facussé, said that in a meeting held in the resort town of Granada in Nicaragua "I found out that there are 18 companies who have moved from Honduras to Nicaragua".

Also "I visited Merida, Campeche and there are 7 Honduran enterprises who moved to Mexico, firstly because nobody harasses, persecutes or threatens them, there is an atmosphere of tranquility, secondly, they give them land, they prepare it and make them the access roads, " the official added.

In Mexico and Nicaragua also "there are 50% reductions in the payroll taxes that they have to pay in the first year and 25% in the second year."

According to Facussé, the same thing happens in El Salvador, where they have adopted a series of measures to attract investment, in contrast to the climate of tension experienced by companies in the country.



More on this topic

Honduras: Businessmen Recommend Investing in Nicaragua

May 2012

Amid complaints of government harassment of private enterprise, its noted that in Nicaragua the costs are lower and "there are not too many obstacles."

Given some recent actions and tax proposals by the government of Honduras that have note been well received by employers due to their potential impact on business competitiveness, the president of the National Association of Industrialists (ANDI), Adolfo Facussé, is advising entrepreneurs to invest in neighboring countries, pointing in particular to Nicaragua.

Insecurity Affecting Honduran Investments

August 2011

Some companies are moving their offices to other countries in the region and others are abandoning the idea of settling up in the country because of insecurity.

So said the president of the Chamber of Commerce and Industry of Tegucigalpa (CCIT), Aline Flores, in light of the revival of agrarian conflict in the Lower Aguán region, requesting swift action by the government.

Honduras: Businesses Opposed to Bank Tax

June 2011

The proposal to tax all banking transactions has been strongly rejected.

The government aims to create $79 million to combat insecurity, which would be financed in part with proceeds from a tax of 0.2% on all transactions carried out in banks.

Industry representatives believe that this measure is excessive and that not all transactions should be taxed, as the financial cost to businesses would be very high.

Honduras: Call for Monitoring of Security Tax

May 2011

Employers are not opposing the tax, but say that its adoption should be supervised by the private enterprise.

Adolfo Facussé, president of the National Association of Industrialists (ANDI), said they have not been consulted on the implementation of the tax, to which they are not opposed, but argue that resources should be managed by private enterprise.

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