Nicaragua Business News

The Ministry of Energy announced that Nicaragua recently covered 48 percent of the nation’s energy demand through renewable sources, producing 219.8 megawatts of power through its wind, hydroelectric, biomass and geothermal energy plants.

The Presidential Delegate for Investments received a high-level delegation of officials from the Government of Thailand with the objective of strengthening ties and promoting the development of economic relations between both countries.

The Center for Export Procedures recently stated that Nicaraguan exports reached US$2,130.3 million in the first eleven months of 2011, surpassing total sales in 2010 and reaching record figures.

Augusta Manufacturing, an American company established in Nicaragua dedicated to the production of sportswear for high-value brands, was recently selected to become a supplier for the Adidas brand.

Goodbox, a Taiwanese company specialized in manufacturing printed folding boxes, has confirmed it will be establishing operations in Nicaragua with plans to invest US$5.4 million and generate 4,000 new job opportunities once fully operational.

Solamon Energy Corp. recently announced the company's intention to develop the largest solar array in Central America, comprising five locations across Nicaragua and delivering 100MW of new energy to the grid.

Concentrix, a global business service provider and wholly-owned subsidiary of SYNNEX Corporation (NYSE: SNX), recently announced it has established a world-class contact center in Nicaragua.

Carlos Denton, President of CID Gallup, confirmed in a recently published article, that the Nicaraguan economy not only showed signs of stability after the country’s recent Presidential elections, but also presents great expectations for 2012.

The 2011 Global Location Trends Report, recently published by the IBM Global Business Service, ranked Nicaragua among the global top 25 destination countries, highlighting the significant increase experienced in terms of investment.

According to the IMF, all quantitative performance criteria for June 2011 were met, and the structural agenda has developed as planned.

PRONicaragua, the official investment promotion agency of Nicaragua, recently stated that the country received two foreign business groups this past electoral weekend interested in investing in the country.

A total of 40 European companies coming from Italy and Spain, and numerous foreign investors already established in Nicaragua attended the Nicaragua.Europe event.

Nicaragua’s economic activity has shown high growth rates during 2011, according to the latest economic report published by the Central Bank of Nicaragua

PRONicaragua inaugurated the first business encounter between Nicaragua and Europe titled Nicaragua.Europe 2011, during which a total of 40 European companies attended from countries such as Italy and Spain.

The United Nations Food and Agriculture Organization (FAO), in its latest report, stated that Nicaragua met the first Millennium Development Goal (MDG) by halving its undernourished population, even before the 2015 target date.

The Association of Producers and Exporters of Nicaragua with the support of PRONicaragua organized the launching of the FINPYME ExportPlus Program, whose objective is to benefit approximately 200 SMEs.

The World Bank, in its recently published 2012 Doing Business report, recognizes Nicaragua as one of the 30 countries that presented major reforms this year and showed important advances in several categories.

Ball Horticultural, a U.S. company and one of the leaders in ornamental plants cuttings, announced it will develop a hydroponic project in Nicaragua through its subsidiary company Las Limas, S.A., investing US$15 million and generating 900 jobs.

Nicaragua recently ratified the free trade agreement between Central America and Chile, with the objective of boosting and diversifying bilateral trade and promoting investment.

Nicaragua recently received a high-level delegation from the People's Republic of China with the objective of evaluating socio-economic development projects in Nicaragua.

The Central Bank of Nicaragua stated that the country’s gross domestic product (GDP) increased by 4.7 percent in 2011, the highest growth rate in the Central American region and well above the Latin America and Caribbean average.

The Nicaragua Tourism Board recently reported that over one million foreign visitors came to Nicaragua during 2011, an increase of 8.4 percent over the previous year.

Nicaragua and Russia signed a Bilateral Investment Treaty (BIT) on Thursday, January 26th, with the purpose of promoting and protecting investments between both countries.

Mario Salinas, Minister of Tourism in Nicaragua, recently participated in the Latin American Conference for Tourism Ministers and Businessmen, during which he presented Nicaragua’s competitive advantages and investment opportunities.

Nicaragua is setting a new course towards energy security, reducing its dependence on foreign oil from 80% to 6% within a decade, becoming an international leader in renewable technologies by 2016.

The Ministry of Energy announced that Nicaragua recently covered 48 percent of the nation’s energy demand through renewable sources, producing 219.8 megawatts of power through its wind, hydroelectric, biomass and geothermal energy plants.

As part of Nicaragua’s marketing and promotional activities abroad, the National Tourism Board is currently participating in the 42nd edition of the Vakantiebeurs Fair.

The Presidential Delegate for Investments received a high-level delegation of officials from the Government of Thailand with the objective of strengthening ties and promoting the development of economic relations between both countries.

According to a recent announcement of the Nicaraguan Tourism Board, tourism figures in Nicaragua increased four percent during 2011, with more than 1.05 million visitors, establishing a new historic record in tourism arrivals.

The Ministry of Agriculture and Forestry (MAGFOR, for its acronym in Spanish) recently announced that Nicaragua’s first 24 thousand quintals of cotton are soon to be cropped.

HEMCO recently announced its plans to invest a total of US$50.5 million in the installation of two renewable energy projects in Nicaragua that will have the capacity of generating 20 MW.

The Center for Export Procedures recently stated that Nicaraguan exports reached US$2,130.3 million in the first eleven months of 2011, surpassing total sales in 2010 and reaching record figures.

Augusta Manufacturing, an American company established in Nicaragua dedicated to the production of sportswear for high-value brands, was recently selected to become a supplier for the Adidas brand.

Goodbox, a Taiwanese company specialized in manufacturing printed folding boxes, has confirmed it will be establishing operations in Nicaragua with plans to invest US$5.4 million and generate 4,000 new job opportunities once fully operational.

Nicaragua was recently ranked as one of the top ten best value destinations for 2011by Lonely Planet, one of the largest travel guide book and digital media publisher owned by BBC Worldwide.

Solamon Energy Corp. recently announced the company's intention to develop the largest solar array in Central America, comprising five locations across Nicaragua and delivering 100MW of new energy to the grid.

Concentrix, a global business service provider and wholly-owned subsidiary of SYNNEX Corporation (NYSE: SNX), recently announced it has established a world-class contact center in Nicaragua.

Carlos Denton, President of CID Gallup, confirmed in a recently published article, that the Nicaraguan economy not only showed signs of stability after the country’s recent Presidential elections, but also presents great expectations for 2012.

The 2011 Global Location Trends Report, recently published by the IBM Global Business Service, ranked Nicaragua among the global top 25 destination countries, highlighting the significant increase experienced in terms of investment.

According to the IMF, all quantitative performance criteria for June 2011 were met, and the structural agenda has developed as planned.

PRONicaragua, the official investment promotion agency of Nicaragua, recently stated that the country received two foreign business groups this past electoral weekend interested in investing in the country.

A total of 40 European companies coming from Italy and Spain, and numerous foreign investors already established in Nicaragua attended the Nicaragua.Europe event.

Nicaragua’s economic activity has shown high growth rates during 2011, according to the latest economic report published by the Central Bank of Nicaragua

PRONicaragua inaugurated the first business encounter between Nicaragua and Europe titled Nicaragua.Europe 2011, during which a total of 40 European companies attended from countries such as Italy and Spain.

The United Nations Food and Agriculture Organization (FAO), in its latest report, stated that Nicaragua met the first Millennium Development Goal (MDG) by halving its undernourished population, even before the 2015 target date.

The Association of Producers and Exporters of Nicaragua with the support of PRONicaragua organized the launching of the FINPYME ExportPlus Program, whose objective is to benefit approximately 200 SMEs.

The World Bank, in its recently published 2012 Doing Business report, recognizes Nicaragua as one of the 30 countries that presented major reforms this year and showed important advances in several categories.

The International Monetary Fund (IMF) recently confirmed that Nicaragua’s economy will grow by approximately 4.0 percent in 2011.

PRONicaragua participated in the eleventh edition of EXPOAPEN, which highlights the diversity and quality of the country's export products, as well as the main investment opportunities.

PRONicaragua recently presented the 2011 edition of the investor guideline titled Doing Business, whose objective is to promote and facilitate national and foreign investment.

Ball Horticultural, a U.S. company and one of the leaders in ornamental plants cuttings, announced it will develop a hydroponic project in Nicaragua through its subsidiary company Las Limas, S.A., investing US$15 million and generating 900 jobs.

The Center for Export Procedures recently stated that the value of coffee exports from Nicaragua increased 39.3 percent in the first 11 months of the 2010-2011 harvest, in relation to the same period last season.

A Taiwanese mission representing the country’s high-tech sector concluded a trade promotion road show to Nicaragua last week, with the aim of finding new markets for Taiwan’s technology products in Latin America.

Wind energy developer Blue Power & Energy has awarded Vestas Wind Systems with the 39.6MW order for the La Fe – San Martin wind power project near Nicaragua’s eastern coast.

Nicaraguan exports in 2011 have registered US$688 million, a 23.28 percent growth when compared to the same period of 2010.

Nicaragua recently ratified the free trade agreement between Central America and Chile, with the objective of boosting and diversifying bilateral trade and promoting investment.

AJEGROUP, a multinational Peruvian company that distributes beverages, recently announced to expand its operations in Nicaragua by reinvesting approximately US$25 million to further distribute its product in the Nicaraguan market.

Nicaragua recently received a high-level delegation from the People's Republic of China with the objective of evaluating socio-economic development projects in Nicaragua.

The Government of Nicaragua signed a Memorandum of Understanding with the development company Andrade Gutierrez to begin feasibility studies for the construction of a modern port infrastructure in the South Atlantic of Nicaragua.

The Investment Promotion and Trade Facilitation Office signed a cooperation agreement recently with theUNCTAD in order to strengthen and foster domestic and foreign investment in Nicaragua through the development of the eRegulations program.

PRONicaragua will be participating in the Centennial Expo of the Republic of China (Taiwan), a multi-sectorial fair whose purpose is to to promote trade and investment between the two countries.

Nicaragua’s export procedures have been reduced due to the implementation of the Foreign Trade Integration System, which allows exporting companies to process custom procedures and paperwork from the convenience of their offices.

Nicaragua will be participating in the upcoming edition of MAGIC, the preeminent trade event of the international fashion industry, which hosts global buyers and sellers of apparel, footwear and accessories.

PRONicaragua recently announced it will be organizing the country’s premier investment forum titled Nicaragua, Let’s Grow Together!, in which it will showcase how the country has become an increasingly attractive destination for FDI.

The national shipping company Santé NICA Lines, S.A. recently launched its logistics services to the east coast of the United States, investing US$8 million in equipment and in the implementation of the Managua–Miami route.

Executives of PRONicaragua recently visited the Republic of China (Taiwan) by invitation of the government of this country, with the objective of meeting with companies of various economic sectors and promote investment opportunities in Nicaragua.

The Nicaraguan Tourism Board announced that tourism arrivals reached 432 thousand between January and May 2011, an increase of 4 percent in comparison to the same period in 2010, which reported 416 tourists.

According to the results of a recent study, Nicaragua was found to be the single most competitive option for sourcing numerous apparel products, not just in this hemisphere, but in some cases also compared to China, Vietnam and Bangladesh.

Nicaragua’s International Airports Administration Company recently announced plans to invest up to US$7 million in the construction of an international airport in Ometepe Island in order to foster the development of the local tourism industry.

The result of the study titled “Benchmarking the Competitiveness of Nicaragua’s Apparel Industry”, clearly demonstrates Nicaragua as the most competitive option in the region for apparel manufacturing.