Nicaragua News

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.

Punta Teonoste Nature Lodges & Beach Spa announced the launching of a next generation booking engine on their website

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.

Cupid Nicaragua, a U.S. apparel manufacturing company specialized women’s underwear and sportswear in general, is currently investing up to US$24 million in the expansion of its operations in Nicaragua.

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.

During the first semester of 2011, Nicaragua was the Central American country with the highest growth in apparel exports (in terms of volume) to the United States, when compared to the same period last year.

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 participated in the Sourcing at MAGIC event , with the objective of showcasing the country as the most competitive, up-and-coming apparel manufacturer in the region.

PRONicaragua recently organized the country’s premier investment forum titled Nicaragua, Let's Grow Together!, which is expected to attract approximately US$200 million in FDI in the upcoming months.

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.

SCA Footwear Nicaragua S.A., a women's footwear manufacturing company, recently inaugurated its plant in Nicaragua, announcing a total investment of US$25 million in the country and generating 3,500 job opportunities since its establishment.

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.

The Government of Nicaragua recently announced that the free zones sector reached a total of 92,000 jobs as of June 30th of this year, establishing a new record.

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.

A new Nicaraguan-based NGO is implementing a unique strategy in international development while providing substantial resumé experience to volunteers and interns.

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.

The World Heritage Committee of the United Nations Educational, Scientific and Cultural Organization (UNESCO), in its 35th session in Paris, France, recently voted to add the Cathedral of León, in Nicaragua, to the World Heritage List.

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.

The Embassy of Nicaragua in Washington D.C. and the Nicaraguan Tourism Board (INTUR, for its acronym in Spanish) successfully showcased Nicaragua’s art, culture and cuisine during the fourth annual Around the World Embassy Tour.

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.

According to the International Foundation for the Global Economic Challenge , poverty in 2010 in the rural area of Nicaragua was reduced by 5 points, while extreme poverty decreased 2.3 points.

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.

The first interconnection between electricity substations at Ticuantepe, Nicaragua, and Cañas, Costa Rica, were attained for a duration of three hours last week.

Paramount Pictures chose Nicaragua’s San Juan del Sur bay and its surrounding beaches as the ideal locations for its movie, Destination Wedding.

The Nicaraguan Association of the Textile and Apparel Industry (ANITEC, for its acronym in Spanish) recently announced that Nicaragua exceeded its projections of textile and apparel exports during the1Qof 2011, reaching US$272.09 million.

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 best part of winning the show Survivor has been the opportunity to return to Nicaragua to get to know the beauties of this country," said Judson Birza.