Nicaragua Business News

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.

The Government of Nicaragua recently announced the beginning of a cotton production project in the country’s northwest region, which will significantly foster the growth of Nicaragua’s textile and apparel sector.

Walmart Store Inc., the world’s largest retail store, through its subsidiary in Mexico and Central America, recently announced its plans to invest US$54 million in Nicaragua this year, its most aggressive expansion plan in the country so far.

Nicaragua recently opened a trade and investment office in Beijing, China, in order to promote business opportunities and foster the development of economic relations between the two countries.

SuKarne, one of the most important agribusiness companies in Mexico, recently inaugurated its US$100 million large-scale, intensive cattle fattening project in Nicaragua.

Employment within Nicaragua’s free zone regime reached new record levels by April 2011, employing approximately 92,000 people in the 148 companies that comprise the sector, according to figures provided by the Nicaraguan Government.

Nicaragua was the country with the second highest improvement in the Latin American region in this year’s index, surpassed only by Argentina, which improved four positions.

Vice-President of the Private Sector Department of the Inter-American Development Bank (IDB), Steven Puig, visited the Nicaragua as part of the Government’s strategy to link financing sources with investment projects in the country.

The Hotel Opportunities in Latin America Conference (HOLA) is designed to provide an annual meeting place for hotel executives, investors, lenders and developers who are interested in Latin America’s hotel market.

Nicaragua’s Second International Tourism Fair, FENITUR 2011, is being organized by the Nicaraguan National Chamber of Tourism (CANATUR) and AC Eventos, with support from the Nicaraguan Tourism Board (INTUR).

Transactel, an outsourcing company of Guatemalan-Salvadoran origin, recently launched operations in León, Nicaragua. The call center provides services such as technical support, information and customer care for CLARO.

PRONicaragua and the Danish-Nicaraguan Chamber of Commerce (DANCHAM) conducted their first meeting to discuss mechanisms in which both institutions can work together to promote investment opportunities in Nicaragua.

Adriana Dorn, Miss Nicaragua 2011, has enthusiastically taken on her new role as a public figure and has expressed her desire to continue promoting the country abroad as an ideal destination for tourism and investment.

Air Nicaragua, Nicaragua’s new airline, recently announced it will begin operating with two Boeing 737-300 aircrafts with connections supported in Havana, Cuba; Caracas, Venezuela; and Mexico.

Nicaragua recently participated in the Latin American Investment Forum (LAIF) where different opportunities for investors were presented specifically in the infrastructure and renewable energy sectors.

The International Court of Justice (ICJ) in the Hague dictated its provisional measures on Tuesday March 8th in the proceedings of Nicaragua and Costa Rica in reference to the San Juan River, which divides both countries.

The United Nations Food and Agriculture Organization (FAO) promotes production and consumption of products from aquaculture in Nicaragua.

Nature Air, a Central American airline for adventure travel, recently announced that it will start offering flights to Managua, Nicaragua, four times a week starting March 2nd from Liberia, Costa Rica.

The Government of Nicaragua and the Superior Council of the Private Enterprise (COSEP, for its acronym in Spanish) met recently to discuss a series of key economic issues and establish a joint work plan for 2011.

Calibre Mining Corp recently announced that it has completed an initial field work program on the Santa Maria prospect in north east Nicaragua and has discovered a high grade epithermal gold vein system.

Usnews.com, www.aarp.org and TravelAge West, three websites and organizations specialized in international tourism, recommended Nicaragua as one of the top tourist destinations to visit this 2011.

The Canadian Mining company B2Gold announced its intention to reinvest US$27 million in the exploration and extraction of gold in two mines located in the Pacific Region of Nicaragua.

The Executive Board of the International Monetary Fund (IMF) completed the fourth and fifth reviews of Nicaragua’s economic performance under the three-year Extended Credit Facility (ECF).

Nicaragua recently exported its first shipment of meat to the Russian Federation with twelve containers of beef, valued at US$650 thousand.

Ram Power, a U.S.-based renewable energy company, recently announced plans to invest US$160 million in the construction of Nicaragua’s largest greenfield geothermal power project in more than 25 years.

Recently, there’s been frenzy in the media regarding alleged territorial disputes between Nicaragua and Costa Rica along the San Juan River. Although much has been said, we’d like to provide objective, factual information.

Nicaragua will improve the efficiency and safety of its transportation system with a loan of US$20.2 million by the Inter-American Development Bank (IDB).

Cielo Enterprises recently signed a 15-year exclusive agreement with the city of Leon, Nicaragua, to open a material recovery facility that will help reduce the amount of garbage being buried on the ground in the city’s landfill.

PRONicaragua, the official investment promotion agency of Nicaragua, and the Nicaraguan Tourism Board (INTUR, for its acronym in Spanish) recently held the event “Nicaragua: A Horizon of Investment Opportunities” in Rome, Italy.

According to the lastest report of the Office of Textiles and Apparel (OTEXA) of the United States Department of Commerce, Nicaragua increased significantly the value and volume of its exports.

New Holland Apparel of Nicaragua (NHA), a manufacturing company that produces high performance sports apparel, recently inaugurated their new 100,000ft2 facility in Tipitapa, Nicaragua, increasing their number of employees from 300 to 1,600.

PRONicaragua, the official investment promotion agency of Nicaragua, and the Nicaraguan Tourism Board (INTUR, for its acronym in Spanish) will participate at the Orlando@50+ Expo organized by the American Association of Retired Persons (AARP).

Timber Plantation investment in Nicaragua is a green long term safe investment that will surely outperform the stock market and capture 35,000 tons of carbon.

The Food and Agriculture Organization (FAO) of the United Nations estimates that Nicaragua will be one of the first countries in the region to meet all the Millennium Development Goals (MDGs).

Schmidt Irmãos Footwear, a Brazilian manufacturer of women’s leather shoes, officially began operations in Nicaragua only six months after announcing its intent to invest in the country

The International Real Estate Listings.com recently debuted as a website that offers real estate properties in Nicaragua.