By now, everyone’s aware that the outbreak has been an absolute nightmare for the global economy. 2020 is definitely going to be a recession year with an estimated 3% shrinkage in the global economy because of the impacts of the coronavirus. With disrupted manufacturing and supply chains, massive global unemployment and with an ever-present threat from the coronavirus, this instability is quite likely to continue for the next couple of years at least. It is urgent to reinvent your business model right now, and Haiti is the key for making it happen.
Choose Haiti as your hub for duty-free access to the United States market
The United States has also enacted four laws that provide Haiti with an immense advantage over its competitors in the apparel industry. These are the Caribbean Basin Trade Preference Act (CBTPA), the Haitian Hemispheric Opportunity through Partnership Encouragement (HOPE) Act of 2006, the HOPE Act of 2008 (HOPE II Act), and the Haiti Economic Lift Program of 2010 (HELP). Most preferences provided under these laws are currently set to run through 30 September 2025.
Under these programs, Haitian apparel exports to the United States have been growing steadily, and will likely continue to expand to take advantage of duty-free access to the U.S. market.
Haiti’s salaries and contributions are among the most competitive in the region
Haiti’s flexible labor pool of English, French and Spanish speakers is the largest in the region, putting Haiti in an excellent position to serve the United States, Canadian, Latin American and European markets. Attractive labor costs: Haiti’s salaries and contributions are among the most competitive in the region. Existing providers highlight Haiti’s low turnover rates (2%) and absenteeism (1%).
Haiti provides coaching and 15 years of tax exemption
- High-quality governmental support through the CFI;
- Among the world’s most favorable incentives, with up to 15 years of tax exemption;
- Access to credit from local banks, investment funds and international institutions.
Haiti’s modern and adapted infrastructure
- Global connectivity through the Fibralink Extension connecting to the United States and 21 Pan-Caribbean/American countries;
- Connection redundancy available;
- Haiti’s industrial parks and free zones offer opportunities for custom-built offices and dedicated 24/7 uninterrupted power supply;
- Incubation facilities available with private local firms such as Triangular.
Haiti’s super easy access
- Haiti’s near-shore location is particularly convenient for companies and customers in prime United States, Canadian and Latin American markets;
- Managers can reach Port-au-Prince via direct (2 to 5 hour) flights from various cities in the Americas;
- Located in the same time zone as the Eastern U.S. and Canada, making international operations more effective.
Download the business guide here
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Author: R.A.U. Juchter van Bergen Quast, CEO, European Chamber of Digital Commerce
Sources: CFI
