U.S. VP Harris highlights $4.2 bln private sector investment in Central America (updated)
06/02/2023 20:25
(Adds quote from Harris remarks)
By Ted Hesson
WASHINGTON, Feb 6 (Reuters) -
Private companies have committed to invest $4.2 billion in
northern Central America as part of an effort by U.S. Vice
President Kamala Harris to reduce migration by targeting
economic development, the White House said on Monday.
The latest figures, up from $3.2 billion announced in June
2022, stem from pledges by 47 companies and organizations,
including the retailer Target TGT.N and the Columbia
Sportswear Company COLM.O .
Among the new announcements on Monday, Target committed to
increase its spending in El Salvador, Guatemala and Honduras by
$300 million this year while Columbia said it would purchase
$200 million in products in the region, creating more than 6,900
jobs over five years.
U.S. President Joe Biden, who delivers the annual State of
the Union address on Tuesday, named Harris in March 2021 to lead
efforts to reduce migration at the U.S.-Mexico border as
crossings began to spike at the beginning of his administration,
eventually reaching record highs.
Harris has focused her efforts on addressing the factors
that led migrants to leave the three countries, known as the
Northern Triangle, including a lack of economic opportunity.
In her remarks on Monday, Harris said migrants come to
the United States to flee harm or because they cannot meet basic
economic needs.
"People generally do not want to leave home," she said.
Before a meeting with U.S. officials and private sector
representatives, Harris announced a new phase of the effort
called Central America Forward, which will focus on broader
economic development, corruption and labor rights.
Corruption and governance concerns in the three nations have
limited the effectiveness of the Harris push, leading to the
cancellation or suspension of projects likely worth millions of
dollars.
Arrivals from northern Central America have steadily
declined following a sharp rise in 2021 after Biden took office.
During that time, hundreds of thousands of migrants from the
region have been expelled back to Mexico without the chance to
seek U.S. asylum under a COVID-19-related order known as Title
42.
(Reporting by Ted Hesson in Washington; Editing by Mica
Rosenberg, Chizu Nomiyama and Deepa Babington)
((Ted.Hesson@thomsonreuters.com; 202-450-8633;))