Home / Knowledge / News / Textiles / Honduras expects rise in private investment by 2020

Honduras expects rise in private investment by 2020

02
Dec '19
Pic: Shutterstock
Pic: Shutterstock
Honduras will attract new foreign investments by January 2020 as a result of agreements signed with investors from different sectors, President Juan Orlando Hernández recently announced. The ‘maquila’ sector has already seen a considerable rise in investments. A maquiladora, or maquila, is a company that allows factories to be largely duty free and tariff-free.

These factories take raw materials and assemble, manufacture or process them and export the finished product. In Honduras, the maquila industry primarily comprises textile, electronics and services companies.

Recently, the Honduras government and investors in the maquila industry signed an agreement that will place Honduras on equal terms with neighbouring countries and generate around 15,000 new jobs by 2020, according to a press release from the president’s office.

The agreement includes reforms to the Law of Free Trade Zones, aimed at increasing competitiveness, generating jobs, and providing legal security in order to attract new investments, thus reaffirming the government´s commitment to boost the country´s economic development through the creation of jobs.

"This is definitely good news for all Hondurans, we are talking about a very attractive package that will generate a significant number of new jobs and boost the growth of the maquila industry in Honduras," said President Hernandez.

The Honduras Manufacturers Association (AHM) estimated that next year, the investment in this sector will be about $410 million because of foreign investment.

The maquila is a cornerstone of the economy of Honduras. It has become one of the main generators of jobs and exports, especially in the northern part of the country. Currently the maquila sector distributes around $360 million to buy national goods and $162,000 million in salaries.

Fibre2Fashion News Desk (DS)


Interviews View All

Shawn Honeycutt, Bolger & O'Hearn

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Cyril Pereira, Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search