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Latin America Investment News on Viva Tropical

Isthmus Going After Investments as a Unified Force

Article Summary:

Central America aims to bring more foreign direct investment in the coming years. Therefore, ProNicaragua along with its counterparts in the isthmus, are working together to define strategies to attract foreign investment to Central America as a unified block.

Photo Credit: La Prensa Nicaragua

Original Article Text From La Prensa Nicaragua via Google Translate :

Isthmus Go after Investment

Central aims to bring more foreign direct investment (FDI) in the coming years. You do not want to do as a country, but as a single region. That’s why the Investment Promotion Agency of Nicaragua (ProNicaragua) together with their peers in the region seek to create a strategy to sell the isthmus to investors as a single region.

To advance this issue, all promotion agencies met this week in Guatemala City where he began designing the basis of the strategy.

Meanwhile, Nicaragua continued offering as the best destination for investment isthmus.

The agencies, which also met with investors in the region, made them aware of the need to unite in seeking investment for the area.

The presidential delegate investment in Nicaragua, Alvaro Baltodano, said that “to improve and lift countries out of poverty private investment is essential, however we believe that in this competitive world where some countries and states to compete for investment … Central America must be united in the pursuit of investment. ”

He explained that before the international environment, as a country and economy, each one separately is very small. But as a region “offer a more robust and broad both for investment and for trade” so “we believe that the American private sector must come together to find those ways. So must governments. ”

To Baltodano, Central American countries do not compete for investment between them, but Asian countries increasingly become more competitive. Believes that this alliance will address the Trans Peaceful agreements promoted by the U.S. to govern trade relations with Asian countries and also to better address the potential impact of new global crises.

Executive Director ProNicaragua, Javier Chamorro, said that this entity in his capacity as president of the Association of Investment Promotion Agencies of Central America and the Caribbean for about two years to promote meetings with representatives of Invest in Guatemala and other agencies the area.

The investment promotion agencies claim to have the strategy ready by the end of this year and then present it to the governments of each country, donors and multilateral financial institutions to raise funds and implement it.

For now this agency is not able to estimate the cost involved to implement the strategy or investment figures trying to capture. What they are clear is that this has to exceed 8.246 million dollars that Central captured in 2011, according to the Economic Commission for Latin America (ECLA).

While the specific regional project, developed ProNicaragua efforts to increase the 967.9 million dollars in FDI achieved during 2011.

In fact, Baltodano and Chamorro accompanied by President of the Superior Council of Private Enterprise (COSEP), Joseph Adam Aguerri, filed with eighty Guatemalan investors the benefits of Nicaragua to investors in the country. They emphasized the public safety and enterprise prevailing in the country, business-government partnership-working, competitive salaries and tax benefits.

Julio Herrera, the Guatemalan group Pantaleon, assured his countrymen that the opening test of the investment offered Nicaragua is the extension of the group’s investment now exceeding $ 150 million and generates three to five thousand jobs.

This business group acquired the Ingenio Monte Rosa in 1998 and is diversifying its business to real estate, with the development of housing projects in San Juan del Sur to Managua, where in addition also plans to venture into commercial real estate business in the next five years.

Meanwhile, Luis Miguel Castillo, president of the Guatemalan bottler Cabcorp a presence in over nine countries, said that in 1995 the company acquired Ensa and in recent years have developed millions invested. “With the development of the country is the group’s business that has grown in recent years,” he said.

Meanwhile, the president of COSEP, Joseph Adam Aguerri said that “the country as any country has problems,” but thanks to the private sector has to be prioritized at the same level of political economic issues, although the country has been characterized by spin their way of life around the policy has led to “a takeoff of the rest of Central American economies,” which becomes another attractive investment.

Link to Original Article:

From La Prensa Nicaragua

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