Singapore will help Honduras set up special economic zones (SEZs) in the Central American country under an agreement signed yesterday.
The Honduran economy is based mainly on agriculture but it plans to develop SEZs in various locations and wants to utilise Singapore's expertise in establishing these areas.
The first step was taken when the Singapore Cooperation Enterprise (SCE) inked a memorandum of understanding (MOU) with visiting Honduran officials, including President Porfirio Lobo.
It will involve the SCE working with private and public sectors here in collaboration with the Honduras government.
They will undertake feasibility studies to identify potential SEZ sites and plan their development.
Singapore will also help out with advice on best practices in areas of governance and commerce for the export-oriented zones.
The SCE is an agency jointly set up by the Ministry of Foreign Affairs and Ministry of Trade and Industry to respond to the many requests from overseas to tap on Singapore's development experience.
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