Free Zone Law Reforms in Honduras
Friday, September 13, 2019
The business sector and executive authorities are working on a proposal for reforms to the Law of Free Zones of Puerto Cortés, a project that aims to expand existing incentives for this regime.
The modifications that will be discussed in next week's mobile congress in San Pedro Sula seek to reform decrees 1, 2, 3, 12, 16 and 22 of the Free Zone Law of Puerto Cortés.

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The proposal is prepared by representatives of the businessmen, the maquiladora sector, the Secretariat of Economic Development and deputies of the National Congress.

Mario Canahuati, president of the Honduran Association of Maquiladores, explained to Laprensa.hn that "... the country needs to update the law in order to compete with El Salvador, Nicaragua, Guatemala and Haiti, since they have the same or better incentives for the arrival of new companies."

Canahuati added that "... with these reforms the country would receive a $192 million investment in the construction of a new park and the arrival of two factories."

Regarding the transformation of the legal frameworks of other competitors, in the case of Guatemala, the regulation for Special Public Economic Development Zones, which entered into force in the country on February 4, establishes tax incentives for companies operating under this scheme.

Source: laprensahn.com
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Source: laprensahn.com
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