3. NATIONAL INVESTMENT COUNCIL
INVESTOR'S GUIDE HONDURAS 2020 - 2021
3.3.4 FASTTRACKFOR LARGE-SCALE INVESTMENTS DECLARATIONOFNATIONAL INTERESTPROJECTS The mechanism by which the Cabinet or Congress declares a private investment project as a National Interest Project, when it meets the criteria set out in the regulations of the Law for the Promotion and Protection of Investments. This process is free of charge. BENEFITS a. Issuance by Executive Decree of a Certificate of Incorporation and Operational Viability. This Certificate includes all permits required for the type of investment by the applicable legislation. (Fast Track). b. Upon obtaining the Certificate, the competent state authorities will not request any other legal requirement or accreditation and the beneficiary becomes eligible to start operations. CRITERIATOBECONSIDERED A National Interest Project may be declared by any one the following circumstances: a. Project aimed at the rational and sustainable exploitation of idle assets owned by the State, including renewable and non-renewable natural resources that otherwise would not generate revenue for the State. b. Project including a commitment to invest no less than five percent (5%) of its gross income in surrounding communities’ development, or corporate social responsibility programs. For this purpose, such investments must be detailed in the proposal, including the Economic and Financial Model (MEF, for its acronym in Spanish) of the project so it can be validated by the relevant authorities.
c. The project to be developed, located in an area of low level of human development according to the information provided by the National Institute of Statistics (INE, for its acronym in Spanish). d. When, according to duly validated income projections, the project has the potential to generate revenues for the State of more than ten million dollars (US$10,000,000.00) per year. e. When, without a declaration of emergency, the projects concerned include the reconstruction of infrastructure damaged by a natural disaster. f. Projects that cause substantial social impact in areas such as social housing, health, education, safety, or others. PROCEDURETOFOLLOW a. Request presentation to the National Investment Council with all the required documentation. b. The National Investment Council will analyze and issue a resolution recommending qualifying/not qualifying the investment as a Mega-Project of National Interest. If the project requires further analysis, this process may take up to 90 days. c. If the project qualifies, as a Mega-Project of National Interest, the National Investment Council will proceed within two (2) business days to submit its recommendation to the Secretariat of the Cabinet. d. Upon receipt of the project documentation with the recommendation of the Cabinet, within fifteen (15) business days, the President of the Republic shall issue an executive decree, containing a Certificate of Incorporation and Viability of Operation that includes all the required permits for the respective type of investment. e. There is no appeal against the decision denying the qualification of the investment as a Mega-Project of National Interest.
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