Nicaragua seeks to position itself as an attractive and reliable place for foreign investment and to attract innovative projects, states the investment promotion agency ProNicaragua, which is preparing three business forums this year.
The forums will highlight the opportunities the country has to offer in the automotive and footwear industries, and, in addition, the second annual European Meeting will be held in Nicaragua, whose first event was successfully held last year, reported ElFinancierocr.com. In 2011, Nicaragua attracted about $900 million in foreign direct investment, less than projected (approximately $1 billion), however, that has not dampened the optimism of the authorities.
The presidential delegate for the promotion of investments, Alvaro Baltodano was quoted as saying on the official site El19, that talking about FDI of $900 million, which represents a 97% growth compared to 2010 - is a “success” and it "creates a platform to make Nicaragua an attractive country for investment", reported Gustavo Alvarez correspondent in Nicaragua for ElFinanciero.com.
Baltodano attributes the momentum of investment attraction to the partnership between business, government and workers, which defines rules of the game for those who wish to invest. For example, as mentioned, the issue of minimum wage increases which have been defined for three years in an agreement between the three parties in the export processing zones (zonas francas), which also includes the improvement of working conditions and medical care for employees.
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Organized by ProNicaragua and the Superior Council of Private Enterprise (COSEP) the event "Nicaragua Growing Together" aims to attract investments in all sectors of the Nicaraguan economy.
The investment forum aims to gather together business owners and executives in the country to talk to a visiting group of investors about the business benefits on offer.
$ 600 million investment is projected for this year, 20% higher than 2010.
Javier Chamorro, Executive Director of ProNicaragua noted that in 2010 the energy, telecommunications and free zones had the biggest growth, followed by tourism. This year projections estimate that investments will again concentrate in these sectors.
Nicaragua already exports products worth $1,300,000 to the Asian country and is keen to promote its agriculture and tourism sectors.
An official Taiwanese delegation headed by Deputy Foreign Minister Nonrischai Jullapong, visited Nicaragua to attend the inauguration of the second term of President Daniel Ortega and discuss business opportunities.
The hospitality, security and the range of tourist attractions in the west of the country has piqued the interest of more than 20 investors from Europe, the United States and Central America who participated in the Tourism Forum called "Invest in Nicaragua: Explore New Horizons!"
The event, sponsored by Nicaragua's Official Agency of Investment Promotion, ProNicaragua, and the Cuenta Reto del Milenio, aims to highlight the potential of tourism of León and Chinadega. The goal is not only to develop new tourism projects but also to create strategic alliances with projects that are already in place.