As 2024 draws to a close, we reflect on a year defined by both exciting progress and notable challenges. From the establishment of new Free City projects to the continued growth of our conference, the momentum has been inspiring.
However, the Free Cities movement has also faced setbacks, including recent challenges in Honduras and the Isle of Sark, serving as a reminder that the road to greater freedom isn’t always smooth.
Will the ZEDEs Survive?
On September 20th, the Honduran Supreme Court declared the country’s Zones for Economic Development and Employment (ZEDEs) unconstitutional. In a highly controversial move, the court ruled that its judgment would apply retroactively, nullifying agreements that have provided guarantees to operational ZEDEs—including Próspera and Ciudad Morazán—for at least 50 years.
Próspera’s Technical Secretary, Jorge Colindres, has challenged the ruling, stating, “The Supreme Court does not have the power to declare a law unconstitutional with retroactive effect. This is the first time in Honduran history that this has happened.”
Próspera has vowed to contest the decision and is already garnering bipartisan support in the U.S. Congress for its position, citing potential violations of the CAFTA-DR Free Trade Agreement, to which the U.S. is a signatory.
Próspera CEO Eric Brimen described the ruling as “a significant blow to our mission” but reaffirmed the organization’s commitment to its work and to challenging the legality of the decision. At our recent Liberty in Our Lifetime conference, keynote speakers Massimo Mazzone, founder of Ciudad Morazán, and co-founder of Próspera, Gabriel Delgado, shared their insights on what this ruling means for the future of ZEDEs.
Próspera ZEDE Technical Secretary Jorge Colindres takes part in a debate on legality of the Supreme Court ruling
£30m Sark Property Bid Unable to Move Forward… for Now
In previous newsletters, we shared news of a property bid led by German investor Swen Lorenz to acquire real estate amounting to 20% of the land area of Sark. The bid aimed to revitalise the self-governing island’s economy and had been followed closely by liberty-minded people interested in moving to light-touch government jurisdictions.
After successfully providing £30m, Swen was unfortunately unable to agree on a sale price with the Barclay Estate, which owns the property portfolio. He recently announced publicly that he cannot move forward with the project unless this changes.
Meanwhile, reports of the Barclay family’s financial troubles persist, with The Telegraph revealing that they withdrew over £100m in dividends from Very Group in 2022 to address unpaid debt totalling £1.3bn.
Our team asked Swen about the prospects of revisiting the bid in the future, and he commented: “A potential renewed bid for the portfolio would be so much easier to organise than the first bid. We have the preparatory work over the past three years, and many of our financial backers told us out of their own initiative that they would back us again. However, we are now going to wait and see what 2025 brings for the financial situation of the Barclay family and re-evaluate matters in early 2026.” You can read Swen’s full account of the outcome here.
Swen Lorenz and Seigneur of Sark Christopher Beaumont presenting at Liberty in Our Lifetime Conference 2023
Thames Freeport Wins Rising Star Award
Thames Freeport has been named FDI Magazine’s global leading “Rising Star Zone,” an award that acknowledges its potential as an emerging economic hub. Although still under construction, the Freeport has made notable progress, attracting companies like Ranson Group and DHL Supply Chain while investing in infrastructure such as 5G technology and educational partnerships.
This development is relevant to the Free Cities movement, as Ivan Ko, CEO of Victoria Harbour Group and a supporter of Free Cities principles, is partnering with Thames Freeport to develop a new “21st-Century City”. Ivan outlined his vision for this collaboration at the recent Liberty in Our Lifetime conference, highlighting the Freeport’s strategic location and potential as a center for innovation.
Ivan Ko speaking at Liberty in Our Lifetime Conference 2024
Liberty in Our Lifetime:
Help Us Bring Back the Free Cities Conference in 2025!
Our 2024 Liberty in Our Lifetime conference was a memorable event, welcoming 325 attendees from over 40 countries to Prague and showcasing 23 Free City projects—our most extensive lineup yet. We love hosting this event but organizing the conference is a big undertaking for the Free Cities Foundation team, when resources are limited. That’s why, at this year’s conference, we announced that we would be taking a break from hosting an in-person event in 2025.
In response to this announcement, we received overwhelming support from attendees urging us to reconsider. Several generous individuals offered to fund some of the logistical support we need, setting us on the path to making another in-person conference in 2025 feasible. To date, we have raised $12,382 of the $20,000 we estimate is required to make the event happen.
If you value our annual gathering and want to see it return next year, please consider contributing to our GoFundMe campaign. If we hit our target, we’ll be thrilled to welcome you all back to Prague for yet another record-breaking year.
Group photo at Liberty in Our Lifetime Conference 2024
Merry Christmas & Happy Holidays
As we approach the holiday season, we want to take a moment to thank you for your continued support throughout 2024. Despite some setbacks, this year has been one of growth and progress, and we couldn’t have done it without you. We look forward to continuing our work together in the new year and to bringing you even more updates, insights, and opportunities in 2025.
Merry Christmas & Happy Holidays from all of us at the Free Cities Foundation!