TEGUCIGALPA – Investment to the tune of US$1.5billion has been announced as part of the ‘Honduras2020’ project aimed at expanding the country’s textile sector, specifically in the production of synthetic yarns and activewear. Objectives of the initiative include increasing annual exports to US$7.4 billion and creating 200,000 new jobs by 2020.
The funds will be allocated to: “modernise sewing machines and other equipment, expand industrial parks, improve port and road infrastructure, train workers, and build renewable energy facilities with the goal of slashing electricity costs,” according to Ramfiz Rodriguez, international promotion and communication manager for Honduras2020.
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