The planned and gradual devaluation of the currency favors the competitiveness of the economy by providing certainty in commercial transactions.
Also the competitiveness of the economy benefits when a properly fixed exchange rate does not generate profits for one sector to the detriment of another. The government has programed an annual slip of 5% for 2014, 2015 and 2016 and a depreciation of 4.5% per year for 2017 and 2018, a measure which is supported by the banking sector.
The Honduran Miners Association is organizing a visit to England and Austria to promote investments in the extractive industry.
A committee of business executives related to the mining sector will visit Europe in the coming weeks to promote investments in the mining industry in Honduras.
"The new president of the Mining Association of Honduras, Africa Madrid, said the idea is to invite European investors to come and invest in the mining and metallurgical industry."
Juan Orlando Hernández has assumed the presidency of a country affected by a serious fiscal deterioration, criminal violence and lack of public and private investment.
The new president of Honduras, Juan Orlando Hernández, assumes command of the country in a very complex environment, where the lack of adequate infrastructure, high fiscal deficits and deteriorating social conditions seriously affect the country's competitiveness internationally.
The law on flexible labor passed in 2010 was valid for three years and now its extension has provoked opposition from worker unions seeking its repeal.
Representatives from several labor unions asked the president Porfirio Lobo to repeal the Employment Act which was extended on 18 January before he leaves the Government. Trade unions believe that the rule violates the Labor Code and curtails the rights of workers.
The oil company Chevron will make an offer to Honduran authorities regarding hydrocarbon exploration in the Atlantic in that country.
"Let's see what kind of proposal they bring at this opportunity. They have informed us that they have an interest in returning to Honduras to look at proposals on the development of oil projects," said Roberto Cardona, head of Natural Resources and the Environment (Serna) .
Continued economic deterioration during the government of Porfirio Lobo has led businessmen to prefer the leftist opposition candidate over the ruling party man.
An article in Elnuevoherald.com reports that Adolfo Facussé, president of the National Association of Manufacturers, said that the current government "... is an economic disaster, giving out money in political campaigns, increasing public administration and making unnecessary tenders which are not very transparent".
The Civil Aviation Authority in Honduras has requested the allocation of $20 million to upgrade its air communications equipment.
The request came after some aviation companies complained of continuing air traffic incidents due to poor navigation systems.
The proposal was presented to President Porfirio Lobo by Raquel Adolfo Quan, Minister of Public Works and Manuel Enrique Caceres, chief of the Directorate General of Civil Aviation (DGCA).
In order to boost trade links and tourism, among other things, the embassy will open its doors on October 14.
From a press release by the Ministry of Foreign Affairs in Honduras:
Chancellor Mireya Aguero de Corrales together with Ambassador of the Russian Federation, Mr. Nicolay Vladimir, Undersecretary of Finance, Evelyn Bautista, commissioner for the Promotion of Public-Private Partnerships (COALIANZA), Jose Antonio Pineda, from the Foundation for Investment and Development of Exports (FIDE), Vilma Sierra and the representative of the Honduran Council of Private Enterprise (COHEP), Abraham Benatton, held a discussion with the media to publicize the forthcoming official visit to Russia by the Honduran delegation .
With financial support from the Colombian Union of Energy Workers, ENEE employees could take over the company's distribution network.
The Union of Workers of the National Electricity Company (STENEE) has submitted to the Union of Workers of the National Power Industry (UTEN) of Colombia a technical and financial proposal for the development of a project called "Optimization of the distribution network to assure ENEE revenue".
The opening of bids for Palmerola, scheduled for November, has been postponed at the request of two of the companies interested in building the airport.
"The deadline for Palmerola was put back to late September at the request of one of the bidders, but we have had a request from another bidder who is asking for more time. We will evaluate if indeed it is worth extending the deadline, which could be moved to November," said Jose Antonio Pineda, chief of the Commission for the Promotion of Public-Private Partnerships (Coalianza).
President Porfirio Lobo announced that he will veto the Development Promotion and Public Debt Restructuring Act.
"We have reviewed the law and we have taken the decision to veto it and return it to Congress for them to make their observations," said Lobo.
According to the president, "mining companies have not paid royalties to the state for eight years, but they will have to under the new Mining Law and in order to achieve this the regulations on this legal ruling are about to be published," reported Proceso.hn.
President Lobo intends to sell around 280 active mining concessions which are currently unused.
Elheraldo.hn reports: "The Law of Public Debt Restructuring deals with the sale or disposal of idle state assets, including projects in the area of natural resources, mining, energy and telecommunications."
According to president Porfirio Lobo, any concession must comply with the provisions of the recently adopted General Mining Law and then one of three routes pointing to the so called "mortgage law " must be defined in order for a concession contract to be awarded.
The Honduran president Porfirio Lobo has disbanded the intervention commission which tried to save the state communications company using a self rescue plan.
The president of Honduras was emphatic in dismissing outright any bailout attempt, saying "Fixed telephony is disappearing and its the same case for Hondutel, the instruction given to the Commission from the beginning is that they were to see how an alliance could be made with the workers and the union because we can not take on their concerns, if this doesnt fix the problem, no government is able to sustain Hondutel because it does not make sense to subsidize a company which should be providing a benefit to the state. "
The Intervention Commission, which failed to initiate a recovery of Hondutel, has missed its deadline, and now the Honduran government has no idea how to reverse the company's crisis.
President Porfirio Lobo has expressed concern over the crisis facing the state enterprise, as the company's budget has not been approved, hindering the start an investment plan to recover it, as well as making it difficult to pay salaries.
The Industrial and Commercial Bank of China will provide the funds to carry out the Patuca III hydroelectricity project.
The plant is planned to be built in the eastern region of Honduras, and will have capacity to generate up to 524 megawatts of clean energy with a total price of $1.2 billion.
Elheraldo.hn reports that the government of Porfirio Lobo is negotiating the remaining resources with the World Bank, the Inter-American Development Bank, the Central American Bank for Economic Integration, Taiwan and Europe.
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