Newsletter

May 12, 2023 | Newsletter

Latest News and Activities

More information can be found on our website

On Tuesday April 18th the HUGE Business and Investment Council hosted the event, “Investment Opportunities to Capitalize on Nearshoring of US Companies in Guatemala, Honduras, and El Salvador”, an Investor Conference, which featured presentations of eight large infrastructure projects throughout the Northern Triangle region by their private sector sponsors to twelve major financial institutions involved in funding private sector infrastructure projects.

The total private investment in these projects amounts to $3.4 billion and generates approximately 140,000 new jobs in the Northern Triangle region of Central America. The investment opportunities include two large industrial parks, a technology park, a large data center to support e-commerce, modern highway construction, and two alternative energy projects, as well as the expansion of an operations center for maintenance, repair, and overhaul of commercial airplanes in El Salvador, making it one of the largest of its kind in the world.

The leaders of three major Central American banks, Banco Cuscatlan, Banco Industrial and Banco Ficohsa, also signed a memorandum of understanding to formalize their commitment towards creating greater opportunities for Central Americans and helping address causes of irregular migration to the United States.

The memorandum of understanding signed by the leaders of the banks in the region is projected to support the generation of more than 2 million new jobs in the coming years, as well as the promotion of ethical practices in the construction of strategic infrastructure, enhancing the image of the region as a business base for partners in the United States.

During the event, the United States Ambassador to El Salvador, William H. Duncan, highlighted the longstanding promotion of fair trade, transparency, and respect for intellectual property rights, as well as his commitment to corporate social responsibility and compliance with environmental and labor standards as essential pieces for doing business.

On Sunday April 23rd and Monday April 24th, Dr. Juan José Daboub, President of the HUGE Business and Investment Council participated in several events around the Boston area. First, the Harvard Business School and MIT Sloan School of Business hosted the 2023 Latin American Business Conference, and Dr. Daboub was invited to speak on a panel that focused on nearshoring opportunities in Central America. On Monday, Dr. Daboub joined Harvard Kennedy School students as a speaker at the event, “A Latin American Agent of Change”, hosted by the Industrial & Trade Policy and Structural Information Caucus, and sponsored by the Latin American Policy Association (LAPA) and the Latin America Policy Journal (LAPJ). We thank the organizers of both events for the opportunity to educate Harvard and MIT students on these topics.

On May 5th, Salvadoran non-profit organization FUSADES shared an analysis of  proposed actions for taking advantage of nearshoring opportunities, focused on job creation in the Northern Triangle region, and dedicated a full page to HUGE objectives for the region. Thank you to FUSADES for your partnership and for including our input.

On Wednesday April 12, ThinkHUGE President Dr. Juan José Daboub and Executive Director Gregory Huger had the pleasure of joining the Spring Meeting of the Central America Task Force hosted by the Atlantic Council’s Adrienne Arsht Latin America Center. We are incredibly grateful to have had a seat at the table with these colleagues, and look forward to future gatherings.