Trade and Commercial Law Assessment - Honduras - Economic ...

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TRADE AND COMMERCIAL LAW ASSESSMENT DECEMBER 2004 HONDURAS ● Last, mechanisms should be created that allow for the immediate formation of a company. One step in this direction would be widespread use of “ventanillas unicas” or “one-stop shops.” A greater degree of transparency and expertise must be introduced into the judicial system. This can be achieved through various reforms. ● Despite the passage of the judicial career law, there is still concern the selection of judges is not sufficiently de-politicized. A system should be established where selection is based on merit, exempted from outside influences/interest groups. ● Judges at lower levels need greater independence to assure that they will not be subjected to influence and pressure from higher courts or politicians to shape decisions in a particular way. In this connection, judges should have the assurance their jobs will be there for them, i.e. they should be given them permanent status. ● Courts of specific jurisdiction should be created with judges having area expertise, e.g. commercial courts. ● Currently there are gaps between the practice and the content of the law. For example, factoring and leasing contracts are used in Honduras but the concepts are not sufficiently developed in the law. Similarly, while electronic contracts are used, there is no law to control their validity and judges are not sure how they should be interpreted. In addition, not only should these areas be dealt with, but a system should be established so that such gaps can be more quickly recognized and Congress can more quickly bring the law in line with practice. With respect to the recently passed commercially-related laws, priorities for implementation need to be set in order to encourage foreign investment. Primary among these is the intellectual property law, which currently exists, but the application of which is not yet well understood. Similarly, the copyright law has been passed but it is seemingly being overtly ignored. The new law on Property, specifically dealing with real estate, and the draft law on collateral guarantees are an important pieces of legislation and should be supported so that there is certainty for those that own property and are seeking guarantees. Lastly, the Ley de Mercado de Valores, passed more than a year ago, needs promotion and added incentives to encourage support for and investment in the stock market. GROUP 4 – IMPROVING COMPETITIVENESS IN HONDURAS There are a number of basic steps that need to be taken to improve competitiveness. These include the passing a law on competition; strengthening the relationship between the public and private sectors and encouraging greater private sector participation; simplifying the legal framework and bureaucratic procedures; and privatizing key industries through appropriate and regulated means. More specifically: ● Services currently provided by the state, such as energy and electricity, should be opened to augment competition throughout the country. Obviously, this will require greater private sector involvement. ● Despite prior unsuccessful efforts, privatization should be pursued with the goal of lowering costs and increasing competition. Attachment 2 - 5
TRADE AND COMMERCIAL LAW ASSESSMENT DECEMBER 2004 HONDURAS ● Collusion in those areas where only a few providers exist should be discouraged and con trolled. In this connection, consumers need sufficient legal mechanisms to have means of fighting against collusion. ● Transportation costs should be reduced. This can be accomplished through more efficient customs procedures, a regional customs union, and reduced and simplified administrative requirements. ● The efficiency and professionalism of public sector must be improved. In addition, efforts sho uld be made to ensure greater stability and consistency in key administrative areas. Attachment 2 - 6
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