Well into the second decade of its endeavor to bring new standards of social and economic stability to the heart of Central America, Honduras has anchored its success on a very simple concept; the road to development is paved with opportunities for foreign investors.
International newspapers report that the quality of Honduran cigars now rivals that of Cuba and its century-long monopoly on renowned quality. Travel magazines point to the Bay Islands as the latest hot spot for sun seekers and scuba divers. And trade magazines write of an onslaught of top-name companies taking advantage of the extraordinary growth that has marked Honduras apparel export industry.
Its unique location in the heart of Central America has provided Honduras with abundance of natural resources as well, including large reserves of hard and soft wood forests, valuable mineral deposits, excellent potential for seafood cultivation, and the natural beauty it takes to tap into the world's booming ecotourist population.
Likewise, there lie many opportunities in the labor-intensive maquila industry. More than 200 industrial plants serve as a direct investment opportunity or as subcontractors for US, Asian, and Latin American companies, primarily in the apparel, footwear and electronics assembly sectors.
Recognizing the potential of its growing industrial sector, the Honduran government has implemented an ambitious policy to attract investment, channeling its most concerted efforts into a thriving new industrial free zone system. Legislation like the Export Processing Zone Law and the Honduran Investment Law provide export-oriented companies with a gamut of attractive incentives, including 100 percent exemption from import and export taxes, a reliable legal framework, the tax-free import of necessary goods and materials, unlimited access to foreign exchange, and more.
Seventeen private industrial parks are leading the Honduran North Coast into a bright 21st century, while one pioneer park has ventured south into the heartland to spread this economic growth to the fresh labor force of Tegucigalpa.
One would be mistaken, however, to think that Honduras offers all work and no play. It is no accident that the tourism industry is expected to be at the cutting edge of foreign revenue-generating. From spectacular beaches to mountaintop rain forests, Honduras has something for the adventurer in everyone.
Ecotourism operations offer slow and fast-water rafting expeditions through some of the deepest parts of the Honduran rain forest. Monkeys, river otters and an occasional jaguar are common companions to trekkers exploring one of Latin America's largest remaining stretches of virgin forest.
As part of the five-nation Mundo Maya tourism initiative, Honduras also offers visitors exotic Mayan ruins, historic colonial villages, and a full range of beach-going opportunities.
Known for their hospitality, warmth, and dedication to democracy, the people of Honduras are devoted to keeping their booming new investment climate stable and attractive well into the next century.
As more and more foreign investors turn to Honduras to fill their overseas operation needs, Honduras relies more and more on its investors to add momentum to its economic development.
TYPHOON: The storm’s path indicates a high possibility of Krathon making landfall in Pingtung County, depending on when the storm turns north, the CWA said Typhoon Krathon is strengthening and is more likely to make landfall in Taiwan, the Central Weather Administration (CWA) said in a forecast released yesterday afternoon. As of 2pm yesterday, the CWA’s updated sea warning for Krathon showed that the storm was about 430km southeast of Oluanpi (鵝鑾鼻), Taiwan’s southernmost point. It was moving in west-northwest at 9kph, with maximum sustained winds of 119kph and gusts of up to 155kph, CWA data showed. Krathon is expected to move further west before turning north tomorrow, CWA forecaster Wu Wan-hua (伍婉華) said. The CWA’s latest forecast and other countries’ projections of the storm’s path indicate a higher
SLOW-MOVING STORM: The typhoon has started moving north, but at a very slow pace, adding uncertainty to the extent of its impact on the nation Work and classes have been canceled across the nation today because of Typhoon Krathon, with residents in the south advised to brace for winds that could reach force 17 on the Beaufort scale as the Central Weather Administration (CWA) forecast that the storm would make landfall there. Force 17 wind with speeds of 56.1 to 61.2 meters per second, the highest number on the Beaufort scale, rarely occur and could cause serious damage. Krathon could be the second typhoon to land in southwestern Taiwan, following typhoon Elsie in 1996, CWA records showed. As of 8pm yesterday, the typhoon’s center was 180km
TYPHOON DAY: Taitung, Pingtung, Tainan, Chiayi, Hualien and Kaohsiung canceled work and classes today. The storm is to start moving north this afternoon The outer rim of Typhoon Krathon made landfall in Taitung County and the Hengchun Peninsula (恆春半島) at about noon yesterday, the Central Weather Administration (CWA) said, adding that the eye of the storm was expected to hit land tomorrow. The CWA at 2:30pm yesterday issued a land alert for Krathon after issuing a sea alert on Sunday. It also expanded the scope of the sea alert to include waters north of Taiwan Strait, in addition to its south, from the Bashi Channel to the Pratas Islands (Dongsha Islands, 東沙群島). As of 6pm yesterday, the typhoon’s center was 160km south of
STILL DANGEROUS: The typhoon was expected to weaken, but it would still maintain its structure, with high winds and heavy rain, the weather agency said One person had died amid heavy winds and rain brought by Typhoon Krathon, while 70 were injured and two people were unaccounted for, the Central Emergency Operation Center said yesterday, while work and classes have been canceled nationwide today for the second day. The Hualien County Fire Department said that a man in his 70s had fallen to his death at about 11am on Tuesday while trimming a tree at his home in Shoufeng Township (壽豐). Meanwhile, the Yunlin County Fire Department received a report of a person falling into the sea at about 1pm on Tuesday, but had to suspend search-and-rescue
RSS