Honduras aims greater stability to foreign and national investment to develop the country

TEGUCIGALPA, May 19, 2021 /PRNewswire/ -- The Government of Honduras seeks to provide greater stability to foreign and national investment for propelling the generation of jobs in the country through model cities called Zones for Employment and Economic Development (ZEDEs for its acronym in Spanish), by pursuing legal reforms for strengthening this model in consensus with the different sectors of the country.

The ZEDE located within the national territory in areas subject to a "special regime" purport to be autonomously governed areas that will attract foreign investment and compete for residents by establishing safer communities and better managed institutions governed by the rule of law.

The ZEDE presents new opportunities for investors, in particular those who are looking to diversify their supply chains; also, help facilitate greater trade between through various fiscal and non-fiscal incentives.

This is an initiative that President Juan Orlando Hernández has promoted since 2010 to attract foreign investment for accelerating growth, through the massive generation of jobs and better living conditions for the Honduran population.

Honduras Congress amended its constitution and passed the Organic Law of Employment and Economic Development Zones in 2013 with a majority of votes,  to create ZEDEs empowered to set their own budgets and taxes, and it authorized public audiences for approving the selection of two regions and the hosts of these new enclave model for popular sovereignty.

The ZEDE will provide a wide range of territorial ventures, including urban development, resource extraction, international logistics centers,  commercial  international courts, special investment districts, renewable energy districts, industrial parks, special export processing zones, technology parks, and innovation areas

Last week, a bill was introduced before the Honduras National Congress aiming a tax interpretation and exemptions from these employment zones, and with this action the Government is looking forward to engaging a multi-sectorial dialogue to join and support this initiative.

"The Zones for Employment and Economic Development are an initiative conditioned in the Constitution of the Republic, whose purpose is to prevent hundreds of Hondurans from leaving the country in search of jobs and better living conditions for themselves and their families", President Hernandez said.

Many countries in Asia, such as China, Singapore, Taiwan, Korea, and Dubai, among others, and other regions have had economic success through undertakings similar models which have triggered development poles from large productive investments.

Fuente: https://presidencia.gob.hn/index.php/gob/el-presidente/9523-presidente-hernandez-garantiza-soberania-en-las-zonas-de-empleo-y-desarrollo-economico 

SOURCE Government of Honduras