Honduras expected to open three new factories by end of 2016

While Honduras produces a variety of textiles and automobile parts, the first air bag factory will open by the end of 2016 (La Prensa). La Prensa reported that three factories are expected to open in the last quarter of 2016: one for safety harnesses, one for air bags, and one for sports jackets. Asociación Hondureña de Maquiladores (AHM) President Mario Canahuati cited the diversification into airbags as a sign the industry continues to grow. Canahuati expects the three new factories to generate at least 3,000 direct jobs in Valle de Sula. The textile and harness industry is projected to close 2016 with a US$100 million gain in exports, growing from US$200 million to US$300 million (La Prensa). President Juan Orlando Hernández has focused on strengthening Honduras’ relationship with Mexican car producers, who expect to increase car production and thus demand for safety harnesses and auto parts (La Prensa).