'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.
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).
The government is promoting a bill that will modernize the tax status of high-value services and the movement of goods from the zone to other countries.
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