Textile Companies Migrating from El Salvador to Honduras?

In Honduras there are plans to develop free zones to attract companies from El Salvador who have shown their fears about the business climate in the country.

Tuesday, March 4, 2014

Several Salvadoran companies have shown fear over the FMLN party winning the presidential election for the second time. Aware of the concerns of Salvadorans regarding the business climate in the Central American nation, Hondurans are working on attracting those companies.

The ambition to attract these companies is such that "the Government would expedite all the paperwork for companies to start operations as soon as possible. 24 hours to set themselves up and a reasonable time to obtain all the legal requirements are some of the promises that Honduras is considering in its investment plan. "

Daniel Facussé, president of the Honduran Maquila Association, said that "we are planning to develop areas of Choluteca, Francisco Morazán and Valle, to create conditions to attract considerable capital from that country. In addition, we want to create the first Special Development and Employment Zone in the southern part of Honduras. "

"... It is logical that Honduras is attracting more investment and that it wants to conquer the Salvadoran companies as it is offering as a model similar to that of Hong Kong, where the laws do not contain so much red tape for businesses," said Arnoldo Jimenez, executive director of the National Association of Private Enterprise in El Salvador.

More on this topic

El Salvador Needs a Government That Encourage Investment

August 2013

One of the reasons for the poor performance of the Salvadoran economy is the uncertainty about political behavior at every election.

This was stated by Director of Economic and Social Affairs of the National Association of Private Enterprise (ANEP), Waldo Jimenez, who added that "...

No Resonse to Complaints Against Alba Petróleos

July 2013

The Superintendency of Competition in El Salvador has not yet ruled on the complaints raised by the National Association of Private Enterprise for alleged anticompetitive practices.

Five months after the National Association of Private Enterprise (ANEP by its initials in Spanish) requested an investigation, it is "still awaiting a response from the Superintendency of Competition and is urging the Government of the Republic to enforce the law on equal terms and force the fulfilment of requirements under which ALBA businesses operate in El Salvador", published Elsalvador.com.

Criticism of Agreement for Growth between U.S. and El Salvador

April 2013

Salvadoran businessmen have pointed out that the agreement which intended to stimulate the economy and overcome obstacles to growth, has not provide great results.

Although it is more than a year since implementation of the agreement, the private sector finds it necessary to involve private enterprise more in order for the government to generate better policies to attract investment.

Corruption Charges Against Alba Petróleos

January 2013

The National Association of Private Enterprise in El Salvador has declared that "money laundering is enabling Alba Petróleos to dabble in various production and commercial activities in the country."

According to an article in Elsalvador.com "The Executive Director of the ANEP, Arnoldo Jimenez said that this development ‘is part of a whole scheme of money laundering, diversion of funds and corruption that exists behind Alba ', referring to 'how Alba and el Frente (FMLN) are gaining economic control through political power'. "

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