From Honduras News: Honduras Approves Private Cities Project
Honduras signed a deal for an initial investment of 15 million dollars to create the first “Private City” in the country. (Also referred to as “Free Cities”, “Charter Cities”, “Model Cities”, or in Spanish, “RED – Regiones Especiales de Desarollo”, and “Ciudades Modelo”.) The city will be built in Trujillo, in the Department of Colón, where it does not have the full support of the Garifuna people, as they fear that the loss of their land may be on the agenda.
Carlos Pineda, the president of Coalinza, stated that this was not just an agreement, but the most important project for the development of the country in 50 years.
Michael Strong, an executive with the MKG Group that was granted this project, stated that the objective is to create a secure and prosperous community for Hondurans.
The development of the physical infrastructure laid out in phase one of the project will result in 5,000 new jobs, as well as 15,000 indirect new jobs.
Juan Hernández, the President of the Honduran National Congress, stated that this is a giant step forward for the country. Last July, the Honduras Congress passed Decree #123-2011, which in a nutshell, takes care of all constitutional issues related to the creation of these RED zones, or model cities, as we refer to them in Honduras.