'Charter City' Project Revived in Honduras
Under the name of Special Development Regions (Regiones Especiales de Desarrollo or RED in Spanish) the National Congress of Honduras is debating a new version of the law that creates these special cities.
Tuesday, January 15, 2013
The bill, which sets out reforms to articles 294, 303 and 329 of the Constitution, was introduced by government minister Rodolfo Irias Navas.
Honduran constitutional amendments passed by Congress have revived the "zones subject to special law regimes".
The agreement between both nations to develop a Special Economic Zone will be completed in less than a year.
It has been announced that the location of the planned special economic zone, which will be financed and built by China, will be decided in the third quarter of 2016.
A logistics park, a port and a center for agricultural research and development in the Gulf of Fonseca would be the basis of the first Employment and Economic Development Zone (ZEDE by its initials in Spanish).
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