Due to the precariousness of the English language, in recent years’ companies in the Contact Center & BPO sector have decided to close thousands of jobs in the region and relocate their investments to other markets where they have no difficulty in recruiting qualified personnel.
Reports at a global level show that the command of English is one of the weaknesses at a Central American level.
Because of the economic crisis, Foreign Direct Investment flows have practically vanished, and in order to attract the few investments that are projected for next year, countries are expected to compete by offering incentives and aid programs for businesses.
The covid-19 outbreak dissipated the investment intentions of companies globally.
In the context of the tense diplomatic and commercial relationship between the two world powers, Central American countries could have the opportunity to attract new investments, as it is estimated that some American companies would need to migrate their operations to the American continent.
As a result of the tension between the two nations, Mauricio Claver-Carone, an advisor to President Trump, believes that U.S. capital, which currently generates thousands of jobs in China, will turn south of the U.S. borders.
The health and economic crisis will result in a reordering of foreign investment at the global level, and countries like Central America will have the opportunity to take advantage of their geographical position to attract fresh capital.
The outbreak of covid-19 worldwide will cause a drop in production in 2020, however, by 2021 and 2022 the forecasts of international organizations anticipate that economic activity could rebound, a rise that would be coupled with new investments in various markets and sectors.
An apartment tower in Honduras, the construction of a road in Guatemala and a multipurpose tower in Panama are part of the investments announced in the region for the coming months.
The interactive system "Construction in Central America", of the Trade Intelligence Unit of CentralAmericaData, includes an updated list of public and private construction projects to be developed in the coming months.
The balance of private external debt at the end of 2019 was US$1,816.6 million, increasing US$175.6 million compared to the one reported at the end of 2018; result of a net use of US$191.4 million and a favorable exchange variation that reduced the balance by US$15.8 million.
In Honduras, the National Congress approved a decree that guarantees the investment of $20 million in a series of road infrastructure projects in the city of La Ceiba.
The decree contemplates that the funds will be used to build the extension of "Calle 8" with two lanes starting from "La Amistad" Boulevard, connected to the street that leads to the Air Base, including a grade change that connects with the CA-13 highway, reported the National Congress.
Honduran businessmen agree that the constant increases in electricity rates are making the country less attractive for investment.
The Honduran Electricity Regulatory Commission (Cree) announced a few days ago that by the beginning of 2020 there will be an average increase of 2.9% in the price of electricity.
The Trump administration plan will be aimed at 30 countries of the continent and is called "America Crece", and consists mainly of the development of private investments, granting loans and sale of natural gas surpluses.
Super Repuestos, a company dedicated to the marketing of vehicle parts, announced that next year will invest in the opening of two branches, one in El Salvador and another in Honduras.
The sales point of El Salvador will be located in the municipality of Nejapa and the establishment that will operate in Honduras, will be in the city of La Ceiba. Both buildings are currently under construction.
With the reform proposal to the Law of Free Zones presented to Congress, it is intended to reduce from 20 to 10 the requirements that must be met to approve a new free zone.
After several months of working on the proposal to make changes to the law, the file was submitted to the legislative chamber and prepared by the Honduran Maquiladora Association (AHM), the Ministry of Finance, the Central Bank of Honduras and the Ministry of Economic Development (SDE).
A multipurpose tower in El Salvador, a logistics park in Panama and a corporate center in Guatemala are part of the investments planned for the coming months in Central America.
The interactive system "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private constructionprojects that are planned to be built soon.
Standard & Poor's has given a B+ rating to the $1.5 billion debt issue that Costa Rica expects to place in the international market in November.
"Global Ratings today assigned a "B+" rating to the prospective reopening of Costa Rica's notes which have a 7.158% rate maturing in 2045 and a "B+" rating in its planned issuance of notes maturing in 2031, the latter issue still does not have a defined trading rate," the rating agency said on November 8.
Honduran builders estimate that in 2019 the sector could lose about 20,000 jobs, a decline that would be explained by the cut in economic growth projections.
According to reports from the Central Bank of Honduras, production slowed at the end of the first half of 2019, as economic activity in the country grew by 2.5% in June, a year-on-year variation that was lower than the 2.7% recorded in May.
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