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Latin America Investment News on Viva Tropical

New Study Reveals Nicaragua Is a Great Place to Invest

Article Summary:

A new report published in April by The Financial Times shows Managua, Nicaragua is leading the way in Latin America as a city with one of the best laid out strategies for foreign direct investment.

Photo Credit: K Krollierton

Original Article Text From Nicaragua Dispatch:

Managua Ranks 3rd for Investment Strategy

For the past 40 years, Managua has been staggering about like a shell-shocked earthquake victim who is overwhelmed by devastation and haunted by the ghosts of its past. But that is starting to change. For the first time in decades, Nicaragua’s capital is now gaining international recognition as a city that’s establishing a firm footing and creating a business plan for the future.

According to report published his week by the Financial Times FDI Intelligence division, Managua ranks third in the hemisphere behind Montreal and Toronto in the category of strategy for attracting Foreign Direct Investment. Managua was the only city in Central America to rank in the top ten in the investment strategy category, according to the American Cities of the Future 2013/14 report.

“In its submission, ProNicaragua, the official investment and export promotion agency, revealed the strategies of the Nicaraguan Government that are currently being implemented to demonstrate potential investors that Nicaragua – and Managua in particular – is a destination worth considering. One such strategy is the creation of a special public-private commission that will work closely with the World Bank to develop initiatives and policies to improve the country’s business climate and foster investment inflow,” the report reads.

Rounding out the top ten cities for investment strategies were Chicago and Phoenix in the U.S., Guadalajara in Mexico, Buenos Aires in Argentina, Rio de Janeiro in Brazil, and Barranquilla and Cali in Colombia.

ProNicaragua notes that Managua is an “up-and-coming metropolitan city offering all the amenities of a modern, urban city ideal for business.”

“The city has class-A infrastructure, with industrial parks near the international airport, which was ranked among the safest in Latin America, renowned business schools such as INCAE, the largest labor force in the country, a world-class telecommunications network, top notch medical services in US-accredited hospitals, some of the highest safety levels in the region, a very comfortable cost of living and warm weather all year round,” ProNicaragua said in a release.

ProNicaragua notes that Nicaragua has been ranked and mentioned in other renowned foreign publications, such as the Economist Intelligence Unit and the Latin Business Chronicle, which highlighted the country’s high levels of personal safety, as well as openness to the world.

Various international trade missions and private investment groups from the US, Great Britain, Germany, Russia, China and Uruguay have visited Nicaragua in recent months have remarked on the country’s “extraordinary investment opportunities due to economic stability, solid legal framework, availability of an adequate labor force and a pro-business government,” ProNicaragua says.

In the overall ranking for best American cities for investment, New York reclaimed the title as the top city in the Americas for attractiveness for inward investment, with fast-rising São Paulo, Brazil, nipping at the Big Apple for the No. 1 spot.

FDI’s Top 10 overall cities of the future in the Americas are:
New York (US)
São Paulo (Brazil)
Toronto (Canada)
Montreal (Canada)
Vancouver (Canada)
Houston (US)
Atlanta (US)
San Francisco (US)
Chicago (US)
Miami (US)

FDI’s Top 10 overall Latin American cities of the future are:
São Paulo (Brazil)
Santiago (Chile)
Rio de Janeiro (Brazil)
Buenos Aires (Argentina)
Bogotá (Colombia)
Monterrey (Mexico)
San José (Costa Rica)
Mexico City (Mexico)
Panama City (Panama)
Montevideo (Uruguay)

Link to Original Article:

From Nicaragua Dispatch

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