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Latin America Investment News on Viva Tropical

Wow, More Countries are Investing in Nicaragua

Article Summary:

A surprising 55% of Nicaragua’s direct foreign investment comes from Canada, USA and Spain and with 284 new projects in the works, the country is poised to increase those numbers.

Photo Credit: Prensa Nicaragua

Original Article Text From Prensa Nicaragua via Google Translate :

What he did grow foreign direct investment in 2011 are 284 new projects were able to attract, whose capital comes from 41 countries “the highest amount in history,” according to investment promotion agency ProNicaragua.

Investments from Canada, USA and Spain accounted for 55 percent of total foreign capital was placed in Nicaragua. But there were greater amounts received from Mexico, Venezuela, Korea and Brazil.

Alvaro Baltodano, presidential delegate for investment, is confident that “excellent results” obtained allow Nicaragua occupies the first place in Latin America and the Caribbean, growth in foreign investment attraction. “We’ll know when all countries to finish their numbers,” said Baltodano.

But the position is privileged because ProNicaragua, the Central Bank of Nicaragua (BCN) and the Ministry of Development, Industry and Trade (MIFIC), consolidated indicators and regional level confirm that Nicaragua was “for four consecutive year, the highest” FDI as a percentage of GDP, with 14.1 percent.

Total foreign direct investment during the period 2007-2011 was 2,917.88 million, driven mainly by the energy, telecommunications and free zones, which represented on average 70 percent of the total.

ProNicaragua to benefit fully from the fact that the Doing Business 2012 World Bank (WB), located in Nicaragua “in position number one in Central America,” as has improved the business climate, especially in indicators of investor protection, enforcing contracts and resolving insolvency.

Baltodano said that the strategy prepared by the Superior Council of Private Enterprise (COSEP) aims to advance reforms to streamline the paperwork, time and cost of the process to install to a new business in the country.

A determining factor in attracting investment remains public safety provided by the country where the homicide rate is three per 100 thousand inhabitants, when the Latin American average is 26.

Alberto Guevara, president of the Bank, adds that the economic and financial stability, the free convertibility of the currency and wage policies agreed between Government, employers and employees, are contributing factors to the growth of investment.

As the owner of MIFIC, Orlando Solorzano reports that openness to international trade is one hundred percent, providing confidence for exports and imports.

He says a key element are the different free trade agreements (FTA) that has, for example with EE. States., Taiwan, Mexico, Chile, Panama, and the next term of the partnership agreement with the European Union. It aims to realize a free trade agreement with Canada and continue with the opening of the processes of economic integration through the ALADI.

Link to Original Article:

From Prensa Nicaragua

Latin America Investment News on Viva Tropical