HUGE November 2023 Newsletter

Luis Miguel Castillo, HUGE Founder, passed away on October 25, 2023 in New York City. Our condolences to his wife Diana Solares de Castillo, his children; Carlos Enrique, Stella Sofia and Rodolfo Castillo Solares, his mother, Stella Lavagnino, his brothers, nephews and other relatives. His body was laid to rest in Guatemala City. Rest in Peace.

2023 Annual Meeting Highlights

Over 100 high-ranking private, public, and civil society leaders from Honduras, USA, Guatemala, and El Salvador reported on the significant progress achieved towards making the region a dynamic platform for nearshoring during the ThinkHUGE Business and Investment Council’s 3rd Annual Meeting. The participants included several senior Biden Administration appointees, members of the U.S. Congress, Northern Triangle government officials, as well as business and development bank executives.

Minister of Investment of Honduras, Miguel Medina, Secretary Miguel Kattán of El Salvador, and Ambassador Alfonso Quiñónez of Guatemala coincided in stating that the 3 countries are open for business. They highlighted new legislation that enables the ease of doing business and expressed their readiness to facilitate access and provide predictability in an open and transparent way to all those companies moving their operations from Asia to Central America.

HUGE Founders and Sponsors presented bold new investments they are making and their initiatives to support social and environmental sustainability in the region, including in highly sophisticated renewable energy systems, manufacturing, logistics and aeronautics. The discussion included partnerships with development banks to further enhance the relationship of the Central American Northern Triangle private sector with key players in the USA.

Senators Michael Bennet (D-CO) and Bill Cassidy (R-LA) gave an example of how the two major political parties in the United States can work together on the potential of a more secure and prosperous future for the Northern Triangle and how the Americas Act will help make that happen. Key C-Suite level private sector leaders from Target Corporation, Millicom, AT&T Services Inc, Walmart Mexico & Central America, and Crowley Logistics engaged in a panel discussion on how to make the Northern Triangle a dynamic platform for nearshoring.

Yahoo Finance: “HUGE Progress Taking Place in the Northern Triangle Countries of Central America as it Becomes a Dynamic Platform for Nearshoring”

Market Watch: “HUGE Progress Taking Place in the Northern Triangle Countries of Central America as it Becomes a Dynamic Platform for Nearshoring”

La Prensa: “Países del Triángulo Norte, una plataforma dinámica para el nearshoring”

El Heraldo: “Enormes progresos en el Triángulo Norte: Plataforma dinámica para el nearshoring”

elsalvador.com: “ThinkHUGE promueve plataforma dinámica de negocios para el Triángulo Norte”

Diario El Salvador: “Promueven a El Salvador en foro de inversiones y negocios”

HUGE Founders met with the Secretariat of Central American Economic Integration (SIECA) to learn more about the Regional Master Plan for Mobility and Logistics of Central America 2035. The plan was approved by Presidents of all the Central American countries on June 27, 2023.  The Secretary General’s presentation focused on key roads, airports, seaports, and economic corridors that link the region both internally and with the US market. They also discussed projects that are open to private investment directly or through public-private partnerships (PPPs) and the SIECA Trade Facilitation project to expedite customs and border procedures in the region.

40+ C-suite level executives graduated from Nearshoring and Sustainable Investment in the Americas, an online seminar developed by Georgetown’s Latin America Leadership Program (LALP) at the McDonough School of Business and the Center for the Advancement of the Rule of Law in the Americas (CAROLA) at Georgetown Law, in collaboration with the HUGE Business and Investment Council.

Before the culmination of the program, the executives had to present an applied project, where they shared their proposed solutions to a defined problem or challenge related to nearshoring that they were facing in their company or organization. Here, they were able to apply the skills and knowledge acquired during their time in the program.

Other News and Events

Hinrich Foundation: “Worried about Central American emigration? Consider trade policy”

Americas Quarterly: “A (Relatively) Bullish Case for Latin America”

El Salvador in English: “ICCO Recognizes El Salvador as a 100% Fine Cacao Exporting Country”

Mexico News Daily: “Mexico and the US focus on semiconductors at economic dialogue”

Noti Press: “Según AMLO, IED crece por “facilidades gubernamentales”, expertos tiene otros datos”

Republica: “Con el nearshoring, Centroamérica se enfrenta al Sudeste Asiático”

El Financiero: “‘Pelea’ por el nearshoring: ¿Quiénes son los ‘rivales’ de México en la reubicación de empresas?”

bnamericas: “Chilean tech exporters eyeing Colombia, Central America”

Bloomberg: “Mexico Replaced China as Top US Trade Partner. Can it Last?”

Just Style: “Maersk aids nearshoring with new Central, South America logistics hubs”

Axios: “Mexico surpassed China as the top U.S. trading partner”

Hinrich Foundation: “Did too much faith in free markets undo globalization?”

Axios: “Partnerships key to U.S. semiconductor chip industry development”

Reuters: “China trade council asks U.S. to “carefully consider” tech investment ban”