HUGE Founders are paving the road to massive private-sector investment in the Northern Triangle countries of Central America
GUATEMALA CITY, GUATEMALA— Today, the HUGE Business and Investment Council participated in a regional conference hosted by the George W. Bush Institute, FUNDESA, FUSADES, and Fundación Eléutera to highlight the need for the Northern Triangle countries to work together to spur economic growth in the region. The event brought together senior level participants from various sectors in El Salvador, Guatemala, and Honduras, including representatives of the private sector, civil society, NGOs, and academia. Executive Director Greg Huger represented HUGE at the event, “An Opportunity for the Regional Economy | Investments to Reduce Migration.”
An important and timely endeavor for the Northern Triangle region of Central America, the HUGE Business and Investment Council is a nonprofit business association 501(c)(6), established in Washington, D.C. by private sector leaders from Honduras, USA, Guatemala, and El Salvador (HUGE). It represents the first effort of its kind that aims to achieve massive job creation through key regional infrastructure and nearshoring investments. HUGE is a market-based and socially conscious response to a humanitarian crisis, as illustrated by the lack of opportunity for millions of people in the countries of the Northern Triangle to provide for themselves and their families. The industry leaders who developed the organization understand that the availability of good jobs and social services is necessary for broad access to the “American Dream” in Honduras, Guatemala, and El Salvador, diminishing the need for their populations to seek it in the United States.
The January 10 event included a panel on Nearshoring and Trade Opportunities with Johanna Hill of CA Trade Consulting, Pedro Arguemedo of FUSADES, Maria Eugenia Tabush of Invest Guatemala and Kevin Rodriguez of the Cortes Chamber of Commerce and Industry. Since January 2021, HUGE has mobilized $3.24 billion in investments that will create over 200,000 jobs. HUGE Founders Diego Herrera of Grupo Pantaléon and Luis Miguel Castillo of CBC La Mariposa are each developing substantial full-service industrial parks and technical training facilities, Synergy and Numa City Park respectively, to support nearshoring in Guatemala. These parks are models of ESG excellence because they provide a high standard of living that allows workers and their families to fulfill their dreams in their home countries.
With ESG excellence in mind, HUGE Founders are working to bring together experts from within and outside the organization to share best practices and knowledge across all areas related to social development, including but not limited to education, health, housing, and the environment. The event also included a panel on Civic participation in Civil Society with Maria Kaltschmitt of Zen Interactive Media, Mario Garcia Lara of Fundacion 2020, Darwin Romero of Applaudo Studios, Hannah Sklar of CREAMOS and Mey Hung of ASUPERH. HUGE’s ESG Advisory Council will continue its effort to define the organization’s overall approach to ESG and engage civil society appropriately to secure implementation of an ESG Development Plan.
“Today’s event is intended to enable us to fully understand in all their dimensions the reasons why Central Americans are seeking to leave the region in such large numbers. For this reason, we have invited a broad spectrum of some 60 civil society and private sector organizations from El Salvador, Guatemala and Honduras to today’s discussion. Together with the members of this broad working group, we will refine our understanding of these factors and consider how public policy — in the U.S. and in the countries of Central America – might be reformed to better address these challenges,” said Matthew Rooney, Senior Advisor, George W. Bush Institute.
The Founders of HUGE stand ready to support and partner with organizations like the Bush Institute on projects that generate economic growth throughout the region and establish a better business environment. We look forward to working together on these shared priorities and helping create “the American Dream” in Northern Central America.