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Congress Passes Law to Promote Investment

May 6, 2011

Wednesday, 04 May 2011 00:00

The National Congress of Honduras yesterday approved the “Law for the Promotion and Protection of Investment”. Passage of the legislation is timed to coincide with the upcoming “Honduras is Open for Business” investment conference in San Pedro Sula on May 5-6. Approximately 1,300 Honduran and foreign business people, representing 75 countries, are expected to attend the event, which the Honduran government hopes will attract up to $15 billion in investment capital to fund 160 agriculture, energy, maquila, and tourism projects. Initial investments valued at US$4.5 billion are expected to generate about 350,000 jobs in the short-term. The new investment law establishes the National Council for Investment (CNI) — whose goal is to promote private investment — and a special office to provide assistance and information to investors. The CNI will consist of four members from the Honduran National Business Council (Cohep) and medium and small companies, along with three Ministers from the government. Members will be selected by the President of Honduras. (5/4/11) Hondurasweekly.com

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