Three bills are being prepared to encourage construction of marinas and condominiums for tourism, and the promotion of sport fishing.
The initiative to reform the Law on Investments in Condominiums is being prepared by the union of construction, tourism and urbanization, and aims to "open the regime of condominiums up to tourism investment"in order to continue forming the basis of infrastructure necessary for the region to consolidate itself as tourism destination.
The continuous increase in the flow of tourists coming to the country explains some of the 10% growth seen in the hotels and restaurants sector up to June.
This growth in hotel activity is based on an increase in tourist arrivals, which in 2015 grew nearly by 5% compared to the previous year.Figures from the Monthly Index of Economic Activity by the Central Bank show that in the first half of the year the activity grew by 6.5% compared to the same period in 2015.
The Ortega administration has announced that using financing from the CABEI a 52 kilometer hydraulic concrete highway will be built from Laguna de Perlas and Kukra Hill, in the Caribbean.
According to the Ministry of Transport and Infrastructure, the loan from the Central American Bank for Economic Integration (BCIE) will be for $65 million and will be used for construction of the road.
Prawns, cheese, honey, vegetables, peanut oil, peanuts, raw sugar and fruits are some of the products that people want to have duty free status under the FTA.
In the framework of bilateral negotiations for free trade between the two countries, Nicaraguan businessmen pointed out that there are several products that are in the list for staged tax relief, such as shrimp, cheese, honey, vegetables, peanut oil, peanuts, sugar raw and fruits, but they are looking for a"better tariff treatment"for others that are pending negotiations.
Development companies in Nicaragua believe that profitability in the construction and sale of this type of housing has not occurred as expected due to difficulties in obtaining financing.
The Chamber of Builders in Nicaragua (Cadur) argues that the bond that the government announced earlier this year to facilitate access to financing to acquire affordable housing is not what was expected, and because of this, this segment of the market is not proving profitable.They state that the homes that are still being sold with good results are those with prices ranging between $20,000 and $50,000.These represent"... 60% of sales."
The aim is to open markets in Europe and Asia in order to offset the decline projected in tobacco exports to the US because of new FDA regulations.
The goal of the Nicaraguan Cigar Association is to gain a "... 20% increase in sales to Europe, where a little less than 10% of the product is consumed, as the rest currently goes to the United States."
In 2015 the countries of the region imported $800 million worth of fertilizers, led by Guatemala, which bought 658 thousand tons, equivalent to $240 million.
Figureson the fertilizers market in CentralAmerica, compiled by the Business Intelligence Unit at CentralAmericaData.com show that imports from all countries in 2015 amounted to 2 million tons, at a value of $803 million.
Concerns have arisen over a recent agreement signed between the US and Brazil, in which the South American country is allocated a significant quota from the same segment that Nicaragua supplies.
The new quota for imports of fresh beef from Brazil is considered to be in the same category as the quota that corresponds to Nicaragua, called "Other countries".Nicaraguan exporters fear that the quota, amounting to 65 thousand tons per year, will be filled by Brazil leaving no space for sales of meat from Nicaragua and other countries also included in this segment.
The company Alba Foods of Nicaragua will close down in September as a result of a significant decline in sales to Venezuela.
Since the economic crisis in Venezuela has got worse, sales of the company by Alba Alimentos de Nicaragua S.A. have not stopped falling and the decision to close the operations of the food processing company is due to this situation.
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