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Honduras: Open for business

Monday, May 9, 2011












A master of marketing, Honduran President Porfirio Lobo last week inaugurated his country’s first Open for Business convention in San Pedro Sula. Close to 1,300 participants, including more than 300 foreign visitors, reviewed 160 potential projects in six sectors of the Honduran economy.

In his keynote speech, Telmex Chairman Carlos Slim, talked about the degree to which the business world is increasingly confident about investment opportunities in Latin America.

Other speakers included the United States Under Secretary of Commerce for International Trade, Francisco Sánchez, and Nasri Víctor Malhamé, Chairman of Arab Bank, one of the biggest financial institutions in the Middle East.

At the same time, Lobo signed an agreement with Posco, which will let the Korean company develop Honduras’ first model town.

Last February, Lobo announced a plan to let private companies build and manage new communities, in which they would not only create Free Zone-style employment, but also be responsible for municipal services. Posco is the world’s second-largest steelmaker.


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