Under Secretary of State Fernández is accompanied by high-ranking State Department and US Embassy representatives to develop with private sector leaders a concrete action plan for massive job creation in the Northern Triangle and the USA.
Yesterday, the HUGE Business and Investment Council, with support from the National Council of Textile Organizations (NCTO), hosted Under Secretary Jose Fernández in Tegucigalpa. This series of meetings provided US government and private sector leaders with the opportunity to discuss the most effective ways to create more jobs in the textile industry and beyond.
“We were honored to host Under Secretary Fernandez at an industry roundtable discussion and in separate meetings today in Tegucigalpa. The meetings were very productive and highlighted the significant investment that is flowing into the CAFTA-DR region, as a result of the trade agreement’s yarn-forward rule of origin,” said Sara Beatty, senior vice president of the National Council of Textile Organizations (NCTO). “U.S. and Central American textile and apparel executives, with a strong stake in the critical co-production chain that ties us together, discussed the need for policies that support the onshoring and nearshoring of textile and apparel production. Significant investment has and will continue to be made in this critical supply chain.”
In addition to job creation efforts in the textile and apparel industry, participants presented projects in alternative and renewable energy production, financial inclusion, development of small and medium-sized enterprises (SMEs), and maintaining an active relationship with civil society in all four countries. They encouraged US government officials to continue to pressure China on human rights and labor issues, work towards the creation of secure and resilient supply chains, and support opportunities for companies in the region to increase production of PPE for the health sector.
The HUGE (Honduras, USA, Guatemala, El Salvador) Business and Investment Council is a non-profit business association 501(c)(6) established by private sector leaders from the four countries. HUGE represents the first joint effort of industry leaders from these countries to drive massive job creation in the region and the US. In addition to supporting the development of individual investment projects, as part of its mission HUGE, seeks to bring together key stakeholders in the United States and the Northern Triangle, including small and medium-sized enterprises, civil society organizations, and the public sector, to sponsor flagship regional infrastructure projects that will catapult the region’s competitiveness.
The goal of HUGE is to facilitate some $10 billion worth of investments to create 500,000 new direct jobs and 1.5 million indirect jobs in the four countries in five years. In its first year, HUGE has mobilized $1.9 billion in new investment to create an estimated 160,000 jobs.
HUGE Founder and President of Elcatex, Jesus Canahuati said, “We welcome the Under Secretary to Honduras – he has had a chance to witness the massive creation of good jobs. Our commitment continues to be on responsibly and sustainably developing the region. Our goal is to contribute to the creation of the American Dream in both the Northern Triangle and the United States.”
Participants acknowledged that significant opportunity exists in Honduras and the other Northern Triangle countries and that the private sector has the ability to give people hope to stay in this country and build a future here.
“HUGE is very keen on ensuring that we match supply and demand with the idea that private-sector job creation is the best tool for lifting people out of poverty”, said Greg Huger, Executive Director of HUGE.
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