The purchase agreement for 100,000 square feet of leather between Guatemalan and Nicaraguan reflects the growth in demand for this product in Guatemala.
The tannery La Fuente, located in Granada, Nicaragua, reported that it has finalized a contract with a Guatemalan company to provide 100,000 square feet of leather and added that they have asked to have a local distributor in order to access the product more directly.
A company producing polyethylene products has closed part of its operation in Costa Rica due to the high cost of production in the country and transferred its factory which is now operating in Nicaragua.
The high costs that firms have to incur to produce competitively in the country is the main reason behind the partial closure of the Yanber company's operations in Costa Rica and its transfer to Nicaragua.
A proposal has been made to amend the Special Law on Exploration and Exploitation of Hydrocarbons in order to further extend search deadlines from 5 to 10 years for the operating period and 1-6 years for exploration.
In order to provide longer time frames for exploration and mining stages, the President has sent to the National Assembly a proposal to reform the Special Law on Exploration and Exploitation of Hydrocarbons.
Although the cost per MW has not yet been defined, the government of Nicaragua has signed a construction contract with the Brazilian consortium and announced that work will begin in the first quarter of 2015.
After several failed attempts to start construction of the hydroelectric dam Tumarín, the government announced that it has reached an agreement with the consortium Eletrobras and Queiroz Galvao to start work in the first three months of 2015.
The government plans to implement the project in 3000 rural communities in different parts of the country, including the Caribbean coast. With this investment in the power grid coverage is expected to increase in rural areas from its current 64% to 86%.
In the department of Estelí, the main producing area, the price of land has risen, driven by increasing demand for areas in which to grow tobacco plants.
In 2013 cigarexports generated revenues in excess of $200 million and production achieved a 18% growth compared to the previous year, reflecting the good performance of the tobacco industry in the country. Nestor Plasencia, industry entrepreneur and president of the Association of producers of Nicaraguan cigar makers, said that "... more than 90% (of domestic production) comes from the department of Estelí."
In the first half of the year $218 million came into the country, 10.3% more than the $197.5 million generated in the same period in 2013.
Details from the Nicaraguan Institute of Tourism (Intur) show that "... Between January and June Nicaragua received 650,008 foreign visitors, representing a growth of 7.1% compared to the same period in 2013, when the country received 607.155 tourists. "
In the first half of the year sales to outside of the free zone regime were $1.138 billion, up 13% from the $1.007 billion generated in the same period in 2013.
The presence of new foreign firms operating under the regime and the rise in the volume produced, despite a reduction in some prices in the international market, explain the 13% increase in exports from the sector.
The agricultural sector is demanding a law that grants tax benefits and allows the use of leasing of machinery and equipment to improve competitiveness.
Instead of buying equipment and financing it with a bank, the agriculture sector is calling for a law to be approved to regulate and encourage the use of leasing, as a way to improve productivity by renting equipment and not borrowing to acquire it.
Panama’s leading Telecommunications Company adds IT services to its Data and Telecoms offering for Businesses and Governments and enters the El Salvador, Peru, and Nicaragua B2B markets
Cable & Wireless Communications, Plc (CWC), through its subsidiary Cable & Wireless Panamá, S. A. (CWP), today announces that it has agreed to acquire Panama-based Grupo Sonitel for US$36 million plus contingent consideration of up to an additional US$5 million.
Generates business opportunities by linking supply and demand of goods and services between Central America and the rest of the world.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (506) 225 4786