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American companies in Asia explore moving their operations to the Northern Triangle

By Bufete Mejía & Asociados - 17/10/2022

During the Annual Meeting of the HUGE Business and Investment Council in Washington D.C. on October 12 and 13, companies such as Houston Airport System, UPS, Hilton and Kroll, announced their intention to explore the opportunities offered by Honduras, El Salvador and Guatemala to open new businesses. Companies already operating in the region, including Fruit of the Loom, SanMar, Elcatex, Parkdale Mills and Crowley, are aiming to expand. They asked the United States to accelerate the support that entities such as the DFC are mandated to provide. The role of multilateral development banks and private investment funds as an important source of funding was also part of the discussion.

HUGE reiterated its long-held position that the CAFTA rules of origin be maintained to support the development of a vertically integrated textile industry in the Northern Triangle that is linked to the U.S. market. CAFTA is now driving significant new investment towards this goal, and if the rules of origin change, those investments will not come to the region.

“Having clear and predictable rules of the game is essential to attract investment to the countries of the region. We at the IDB are ready to support it with financing and technical assistance to achieve this,” said the new Interim President of the Inter-American Development Bank, originally from Honduras, Reina Irene Mejía, at the opening of the HUGE Annual Meeting.

Investors and entrepreneurs from the Northern Triangle have welcomed American companies that have shown interest in the region. They are making new investments in renewable energy, roads, and industrial development zones with a green and technologically advanced approach that makes this region a competitive and attractive platform for production, generating thousands of new jobs.

By Bufete Mejía & Asociados - 17/10/2022
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Bufete Mejía & Asociados

We are a leading firm in Honduras capable of giving an agile and effective service. Our offices are in San Pedro Sula and Teguacigalpa, and we have associates and correspondents around the world.

We are a specialized firm, that gives integral services in Intellectual Property, such as presentations, support, defense and maintenance of patents, trademarks, copyright, design and geographical indications.

Our Firm has been identified as the best IP firm in Honduras by the prestigious publication Latin Lawyer for the last five years.