Honduras: Businessmen Recommend Investing in Nicaragua

Amid complaints of government harassment of private enterprise, its noted that in Nicaragua the costs are lower and "there are not too many obstacles."

Tuesday, May 15, 2012

Given some recent actions and tax proposals by the government of Honduras that have note been well received by employers due to their potential impact on business competitiveness, the president of the National Association of Industrialists (ANDI), Adolfo Facussé, is advising entrepreneurs to invest in neighboring countries, pointing in particular to Nicaragua.

"I'm conducting some research, I have not finished it yet, but right now it stands out that Nicaragua is the best place for investment for industry and the logical move is that, before the government ends up bankrupting companies, any investment in the private sector is clawed back and all operations moved to the neighboring country," said Facussé to Latribuna.hn.

"The operating costs are much lower, I know that the cost of transportation is high, but it will quickly pay off, leaving them in much more competition conditions and they could sell their products in Honduras under the Free Trade Agreement," he said.

More on this topic

Honduran Companies Migrate to Mexico and Nicaragua

March 2013

Harassment and a business climate of animosity in the country has forced 25 Honduran companies migrate to Mexico and Nicaragua.

Latribuna.hn reports that "15 of them moved to Nicaragua and the rest to Mexico to the Yucatan area, because they have found better conditions to invest and grow, therefore, the National Association of Industrialists (ANDI), is anlaysing setting up branches in these places in order to continue serving its members. "

Honduras: Closure of Cigar Factory Announced

August 2011

The president of the National Association of Manufacturers, Adolfo Facussé, reportedly stated that the owner of the tobacco company informed him that they will move their operations to Nicaragua.

According to Wendy Mejia in her article in Elheraldo.hn, the cigar factory, located in the department of El Paraíso, is one of the largest in the country, currently employing 1,500 people, who would become unemployed if this move goes ahead.

Honduras: Call for Greater Political Stability

December 2012

Political instability is making both domestic and foreign investors very nervous.

An article in Laprensa.hn looks at how recent political developments related to legal certainty, are worrying Honduran businessmen, as they complicate the promotion of the country as a recipient of foreign investment.

Insecurity Affecting Honduran Investments

August 2011

Some companies are moving their offices to other countries in the region and others are abandoning the idea of settling up in the country because of insecurity.

So said the president of the Chamber of Commerce and Industry of Tegucigalpa (CCIT), Aline Flores, in light of the revival of agrarian conflict in the Lower Aguán region, requesting swift action by the government.

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