Honduras: New President Refloats "Charter City"

President Juan Orlando Hernández announced the beggining of studies to create the first "charter city" in the south of the country.

Tuesday, February 11, 2014

Juan Orlando Hernandez, president of Honduras, reported that studies have been started on the creation of a "model city" in the style of Hong Kong in order to promote investment and employment. The initiative includes a port on the Gulf of Fonseca, on the Pacific side.

Presidential adviser Ebal Diaz said: "A study will be carried out in the south and after that an area for the creation of an Economic Development and Employment Zone (ZEDE by its initials in Spanish) will be determined".

"Port capacity will be developed in the country so that it will become a development not only for the country and the region, but for all of Latin America. It is a very ambitious project, which starts from today," he added.

"It is not just about creating a free zone but creating a globally competitive space under a regime of legal certainty which will attract foreign investment."

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