The business sector and executive authorities are working on a proposal for reforms to the Law of Free Zones of Puerto Cortés, a project that aims to expand existing incentives for this regime.
The modifications that will be discussed in next week's mobile congress in San Pedro Sula seek to reform decrees 1, 2, 3, 12, 16 and 22 of the Free Zone Law of Puerto Cortés.
A bill is being discussed in Congress to facilitate financing for producers and to support them in certifying the quality of their plantations.
Because of the complex scenario faced by African palm producers because of low international prices, the Hernandez administration presented to Congress the bill "Law for the Strengthening of the Productive Sector of Oil Palm."
The Inter-American Development Bank loan will be used to finance wastewater projects in Honduras, sewerage works, construction of sports infrastructure, and other works.
On October 10th, the Congress of Honduras approved a $60 million loan from the Inter-American Development Bank (IDB), to be paid over 25 years at an annual interest rate of 0.25%.
The Honduran Congress has approved a loan with CABEI to finance part of the construction of the road between Villa de San Antonio and Goascarán, part of the logistic corridor project.
"...The loan, which was approved in a single debate, is essentially intended for the 'Construction Project of the Logistic Corridor Villa de San Antonio-Goascorán, Sections II and III'."
A legal reform approved by Congress obliges telephone operators to register the IMEI code of cell phones, with the aim of minimizing smuggling and cloning of devices.
The amendment to Legislative Decree 19-2014 establishes that operators must register the IMEI code in a database that will be managed by the National Telecommunications Commission.
Between August and September a new law could be approved that would grant exemptions and other incentives to investments in hotel infrastructure and other tourist activities.
The tourism incentives bill was presented by President Hernández to the National Congress, which expects to complete the approval process no later than September.If approved, the new law would grant various tax benefits and incentives to investors developing tourism projects.
The new law approved by Congress states that the interest rate in national currency can not exceed 54%, and in dollars the maximum limit will be 30%.
After several months of debate, the National Congress has finally approved an amendment to the law proposed by the Executive Branch, which aims to limit the interest charges made by banks and financiers on debt incurred using credit cards.
Without reaching a consensus with the financial sector, the deputies said that the bill will set the maximum interest rate that can be charged on credit cards at 54%.
The agreement reached by the Honduran Association of Banking Institutions and the committee of deputies working on the bill was rejected by President Hernandez, and since then, the negotiation process has stalled.
A bill put forward by the executive branch aims to regulate interest rates charged by banks on credit cards and eliminate service charges, among other changes.
From a statement issued by the President of Honduras:
Tegucigalpa, February 9.President of the Republic, Juan Orlando Hernández, today sent to Congress a bill aimed at introducing new regulations to the credit card market to avoid abuses against consumers.
Congress has approved an IDB loan for the construction of three centers that make up the Ciudad Mujer project in Tegucigalpa.
The loan was agreed in a pact signed in late December by the director of the initiative of Salvadoran origin 'Ciudad Mujer' (Woman City) in Honduras, Rosa Lourdes Paz, and the IDB representative in Honduras, Mirna Liévano.
While the Enabling Protocol was not even reviewed by guatemalan lawmakers, the Honduran Congress has already given its approval.
From a statement issued by the National Congress of Honduras:
The treaty is consistent with the legal instruments of Central American economic integration and the general framework of the treaty for the establishment of a customs union between Guatemala and Honduras and will allow for the free movement of natural persons between the two countries.
Authorization has been given for the investment of surpluses from the Private Contributions Regime to be invested in financial transactions under the supervision of the National Commission of Banks and Insurance.
The agency´s surpluses amount to around $250 million.
From a statement issued by the National Congress:
ECOSOC will decide fate of the economic surplus of RAP
Although it is an issue that should be part of national policies and not dependent on political parties, the Honduran Congress thinks it is better to wait until the new government assumes power in Guatemala before ratifying the customs union agreement.
Arguing that an agreement that was signed by a government whose president is facing a corruption trial can not be ratified, Honduran deputies believe it is necessary to wait until a new government assumes power before reviewing the terms of the agreement.
The recently adopted legislation requires companies to make a tax contribution equivalent to 4% of the monthly salary of each employee on their payroll.
In addition to the monthly contribution of 4%, the new Framework Law of Social Protection System for a Better Life states that "...Employers must pay into the respective sub-account of a worker's labor reserve until the respective account reaches an amount equal to the amount of the unemployment benefit provided for in Articles 102 and 120 A of the Labour Code, at its highest level. The employer must renew contributions for workers who when their ordinary salaries increase are entitled to receive a higher amount for severance pay. "
The new law regulates the operation of the transfer of funds through the banking and securities settlement system.
From a statement from the National Congress of Honduras:
The National Congress has passed the Payment System and Settlement act, which allow transactions to be made more smoothly and also for economic activity to take place more quickly