"HUGE" PROGRESS TAKING PLACE IN THE NORTHERN TRIANGLE COUNTRIES OF CENTRAL AMERICA AS IT BECOMES A DYNAMIC PLATFORM FOR NEARSHORING

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HUGE Business and Investment Council

Oct 23, 2023, 06:00 ET

WASHINGTON, Oct. 23, 2023 /PRNewswire/ -- Over 100 high-ranking private, public, and civil society leaders from Honduras, USA, Guatemala, and El Salvador reported on the significant progress achieved towards making the region a dynamic platform for nearshoring during the ThinkHUGE Business and Investment Council's 3^rd Annual Meeting. The participants included several senior Biden Administration appointees, members of the U.S. Congress, Northern Triangle government officials, as well as business and development bank executives.

Minister of Investment of Honduras, Miguel Medina, Secretary Miguel Kattán of El Salvador, and Ambassador Alfonso Quiñónez of Guatemala coincided in stating that the 3 countries are open for business. They highlighted new legislation that enables the ease of doing business and expressed their readiness to facilitate access and provide predictability in an open and transparent way to all those companies moving their operations from Asia to Central America. HUGE Founders and Sponsors presented bold new investments they are making and their initiatives to support social and environmental sustainability in the region, including in highly sophisticated renewable energy systems, manufacturing, logistics and aeronautics. The discussion included partnerships with development banks to further enhance the relationship of the Central American Northern Triangle private sector with key players in the USA.

"I want to commend the ThinkHUGE team for the invaluable work you are doing to address the main challenges facing Central America. Your dedication, expertise, and unwavering commitment to the region have not gone unnoticed and I am truly inspired by the impact you are making. I have met many ThinkHUGE member companies, and I am impressed by the scope and scale of their projects that are employing people in Central America, generating renewable energy, building infrastructure, and integrating supply chains. These projects generated over $4.6 billion in investment and will create nearly 130,000 jobs," said José Fernández, Under Secretary of State for Economic Growth, Energy, and the Environment, during his keynote remarks.

Senators Michael Bennet (D-CO) and Bill Cassidy (R-LA) gave an example of how the two major political parties in the United States can work together on the potential of a more secure and prosperous future for the Northern Triangle and how the Americas Act will help make that happen. Key C-Suite level private sector leaders from Target Corporation, Millicom, AT&T Services Inc, Walmart Mexico & Central America, and Crowley Logistics engaged in a panel discussion on how to make the Northern Triangle a dynamic platform for nearshoring.

"Today, the people in the Northern Triangle countries of Central America want more security and a job to feed their families. They would like to achieve the American Dream at home. ThinkHUGE offers a win-win-win. A win for the workers of the Northern Triangle countries, who would rather be with their families at home. A win for the private sector of the USA, Honduras, Guatemala, and El Salvador because business from China will be done in their territories. And a national security win for the Governments of the four countries because there will be less incentives for people to immigrate. We want to pursue economic growth and development that benefits all stakeholders in society. These include, workforce development, health and education, social and environmentally conscious efforts, including housing to name a few. We have the ability and the responsibility to create jobs, well paid jobs that make people achieve the American dream at home," said Dr. Juan Jose Daboub, President of ThinkHUGE.

SOURCE HUGE Business and Investment Council