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Latin America Investment News on Viva Tropical

Nicaragua Banks on New Free Zones for Revenue

Article Summary:

Nicaragua will construct several new free zones in 2012 as part of the new initiative of the National Commission of Free Zones.

Photo Credit: Pueblo Presidente

Original Article Text From Pueblo Presidente via Google Translate:

The National Commission of Free Zones (CNZF) approved the construction of a new free zone covering 70 thousand square meters in the town of Niquinohomo, Masaya. This project is expected to generate around a 7000 new jobs by the end of the year, as reported by Alfredo Coronel, Executive Director of CNZF.

“We have authorized the opening of a new free zone in the town of Niquinohomo, is a major investment is a great investment that will be doing in this place, and we believe it will be necessary to make efforts to fill the many jobs will need, considering that over 7 thousand workers will be needed in its last stage ” .

“The company will occupy this industrial space is Hansae International, Korean, and will be a great extension, a new park of a national group called XXI Century, are being initiated and operations and at least take about 6 or 8 months for completion of the work ” he said.

Also Colonel said that foreign entrepreneurs have optimal conditions for investing in Nicaragua.

“These are part of the new investments that the National Commission of Free Zones will be developed, there is a really important growth trend for several months, we have approach to business groups, foreign and domestic, with the intention to continue growing and considering the optimal conditions that are currently in Nicaragua ” .

“The first thing investors evaluate, in attempting to develop a project of this magnitude, are the conditions of the country, and they have realized that Nicaragua has these optimal conditions, especially in security, the issue of wage stability, the issue of economic stability, these are important issues that have led to foreign investment to Nicaragua to observe as an important site, especially considering the distance in the final market, which in this case is the United States, as a first commercial resort ” .

Finally, the Executive Director of the National Free Zone Commission, reported that this year the Free Zones of Nicaragua will generate thousands of new jobs.

“They have also been major brands, representatives have met with General Baltodano, Nike, Adidas, among other national companies interested in investing” .

“We are considering later this year we may be reaching between 10 and 15 thousand jobs over the existing ones, and we currently have around 100 000 jobs and considering, observing the dynamic that is taking the country might improve these figures considerably ” , said the official optimistically.

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From Pueblo Presidente

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