WASHINGTON DC – Today, US Vice President Kamala Harris announced the “Central America Forward” Initiative, which the White House describes as “the next chapter” of the Call to Action, in their statement. Additionally, more than $950 million in new investments will spur economic development throughout the region. Launched in May 2021 as the Call to Action, the Vice President sought to address the root causes of migration from Central America by encouraging private investment to create sustainable employment opportunities throughout the region. HUGE Founders and Sponsors are highly supportive of the Biden Administration’s commitment to deepening investment in the Northern Triangle region of Central America.
HUGE (Honduras, USA, Guatemala, El Salvador) Business and Investment Council represents the first private sector-led regional effort to achieve massive job creation through key regional infrastructure and nearshoring investments. “HUGE links the private sectors of Honduras, USA, Guatemala, and El Salvador to make the region a major manufacturing hub for the US market through investments in nearshoring, logistics, and strategic regional infrastructure. We are creating the American Dream in the Northern Triangle,” said Greg Huger, Executive Director of HUGE, to an audience at a recent event in Guatemala hosted by the George W. Bush Institute, FUNDESA, FUSADES, and Fundación Eléutera.
HUGE Founder CBC La Mariposa of Guatemala is building Numa City Park in Escuintla, Guatemala, an 850+ acre industrial park project that seeks to create over 35,000 jobs in one of the fastest-growing cities in the country. The estimated investment of companies in the park will be $1.1 billion, and it will aim to attract companies committed to ESG and sustainability.
“We believe in positioning Guatemala globally, as an outstanding country in which to invest and do business with excellence,” said Luis Miguel Castillo of CBC La Mariposa.
Since January 2020, HUGE has mobilized over $3.2 billion in private sector investments focused on promoting economic opportunity in the Northern Triangle. Previous announcements by the Vice President included HUGE Founders Parkdale Mills, Pantaleon, and SanMar. Pantaleon of Guatemala is building Synergy Industrial Park, a 1,200-acre industrial park that will meet the needs of companies looking to strategically locate their manufacturing, logistics, distribution, and more. 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.
“We are supporting HUGE’s efforts by bringing together experts from within and outside the organization to share best practices and knowledge on governance and across all areas related to social development, including but not limited to education, health, housing, and the environment,” said Baltazar Vallenilla of Kroll Inc., a Sponsor of HUGE.
Jesus Canahuati, President of Elcatex Group and a HUGE Founder noted, “Our textile industry, as well as others are experiencing incredible challenges due to recent supply chain disruptions. Together with our U.S. partners, we are strengthening our competitiveness investing responsibly in our people, in workforce development, infrastructure and innovative operations. This will help us become the next big manufacturing hub of the Americas. We encourage US and international companies to move their operations from Asia to the Northern Triangle. Our business community is committed to the sustainable development of our nations. Our strategic location, young and productive population, and free trade benefits make this region the best choice for investment.”
“We are investing over $100 million in Central America to make the most of the CAFTA-DR and nearshoring opportunities, advance full circularity, and expand solar power with three major projects. Through these investments, our company is helping to create more than 1000 jobs in Central America, while contributing to the region’s environmental sustainability objectives,” said Felix Siman, Chairman and Cofounder of Intradeco Holdings Corporation and a HUGE Founder.
“Today’s announcement by the Vice President also includes specific actions the US government will take to complement private sector initiatives. We have raised these types of commitments throughout our dialogue with this Administration, and they have taken several of our asks into account in this next chapter. We will continue to identify investment opportunities throughout the region and work with all our Founders, the Partnership for Central America, and our partners in the US government to create economic prosperity in the four countries,” said Dr. Juan Jose Daboub, President of HUGE.
For more information please contact: Adriana Kania at akania@think-huge.org