The Honduran congress has approved once again a “model cities” project that the country’s Supreme Court had previously declared unconstitutional because it would create special Development zones outside the jurisdiction of ordinary Honduran law.
Congressman Rodolfo Irias of the ruling National Party says the law “includes the necessary modifications” to answer concerns about unconstitutionality.
The vote was 110 to 13, with 5 abstentions.
This has been a controversial subject for the country since the idea was first introduced by Paul Romer – economist. He and Octavio Sanchez, chief of staff to the president of Honduras had the same idea for the same reason. Its hard to modify some of the rules of a country, all at once… so the charter city idea was born and Honduras is the first country to adopt and implement it. Bringing the country out of poverty is a priority for the Honduran government. The Model City will create 40,000 jobs. In addition, the implementation of the National Sustainability Tourism Strategy, Honduras is on the move to make changes for the people of this country.
The great news is that Trujillo is a consideration for the location of the model city. The in-migration growth that will come to the area will have a very positive impact on real estate and long term values as demand will continue to grow.
Paul Romer first TED Talk: http://bit.ly/VuWKKb
Paul Romer second TED Talk: http://bit.ly/1497suP
ABC News article: http://abcn.ws/XCozyL
The Vancouver Sun article: bit.ly/Y0TFCh