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Fast Track option for new port terminal

By Bufete Mejía & Asociados - 29/03/2021

The National Investment Council of Honduras named as its first 2021 national priority project a new port terminal in Omoa, Cortés. The declaration of national priority project grants the project the Fast Track, which gives the investor the necessary permits to start the investment process after granting a reasonable period of time to comply with the formalities established in Honduran laws.

Omoa is a town located on a small bay of the same name 29 miles west of Puerto Cortés on the Caribbean Sea coast. The project is necessary to handle the present traffic and expected increases, providing an improvement to existing facilities.

Overall, the overland interconnection of Honduran ports seeks to consolidate Honduras as one of the leading providers of logistical services in the Americas and as an option with extraordinary strategical value. Honduras offers the possibility of transferring goods from coast to coast, by land, covering some 629 miles from Puerto Cortés (Atlantic Ocean) to Amapala (Pacific Ocean); and 676 miles from Puerto Castilla (Atlantic Ocean) to Amapala (Pacific Ocean). The goal is to turn Honduras into a major player in the logistical management of trade between Europe, Asia, the Americas and other regions of the world.

The National Investment Council, known as the CNI, is responsible for coordinating public and private efforts to ease and increase investment. Among its objectives is the promotion and development of private investment.

The investment promotion approach with a territorial focus is based on the strategic development planning contained in the Country Vision 2022 – 2038 and the Nation Plan 2010 – 2022; taking into account the proposal made by the Inter-American Development Bank (IDB) in its spatial economic strategy or territorial approach for the development of Honduras, which was launched in June 2019.

By Bufete Mejía & Asociados - 29/03/2021
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