The US Congress passed a law which puts conditions on Daniel Ortega's government for obtaining loans from international institutions.
The purpose of the law known as the Nica Act, is for loans negotiated between Nicaragua and international financial organizations to be rejected by the United States, unless the Ortega government takes"... measures for the restoration of democracy and the holding of free, fair and transparent elections."
The union has projected growth of 4.4% in 2017 and is counting on attract more foreign investors to partner up with local entrepreneurs to promote the development of industrial activity.
More foreign investment, better use of chains that already exist, such as in the food industry, and reducing the cost of energy are elements that will enhance the development of the Nicaraguan industrial sector, which expects to close 2016 with growth of 3.8%.
It has been announced that in the coming weeks publication will be made of a new national building code, which is divided into different documents according to the type of material used.
Maycol Rugama, from the Department of Studies and Technology Construction Standards at the Ministry of Transport and Infrastructure (MTI), told Laprensa.com.ni that with this update documents will be separated into different standards for reinforced concrete, masonry, structural steel and electricwire systems."
Formalizing the sector and improving the implementation of sanitary measures would make it possible to exploit the export potential and take advantage of growing international demand.
It has been reported that there are 37 cheese processing plants certified by the Institute of Animal and Plant Health Protection (IPSA), 36 of which make cheese for export.Figures from the Business Intelligence unit at CentralAmericaData com indicate thatin 2015 Nicaragua led the export of milk and milk productsin the region, with $200 million worth of products sold.The country's dairy export potential can be better exploited in order to improve sales of cheese abroad.
Entrepreneurs in the commercial sector project closing 2016 with growth of 8%, driven by a foreseen rebound in the last quarter.
The commercial sector expects to close 2016 with sales of $2 billion, and does not foresee that the presidential elections will affect the upward trend that has been seen in commercial activity throughout the year.
So far in 2016 exports of scrap metal, cardboard, glass, iron and other materials to be used for recycling, amounted to nearly $20 million, while in 2015 $24 million worth was exported.
Although it is an export sector that is growing in the country, businessmen linked to the sector believe that much of this waste being exported for recycling in other countries could be treated in Nicaragua and could generate additional revenue.
According to Moody's Costa Rica is one of the economies that could be affected significantly if after the presidential elections the U.S. decides to restrict its international trade policy.
From a press release by Moody´s:
New York, September 22, 2016 -- Mexico (A3 negative) and Costa Rica (Ba1 negative) are among the most exposed economies in the Americas, if the US (Aaa stable) were to shift toward a retrenchment from trade and investment ties after the November presidential elections, according to a report by Moody's Investors Service. Canada is less exposed since it does not benefit from the low labor costs that incentivized the offshoring of manufacturing operations.
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.
With the IDB loan approved by the National Assembly infrastructure and equipment for health centers in rural areas will be improved.
From a statement issued by from the National Assembly:
The Plenum of the National Assembly approved on Tuesday September 6, a Loan Agreement signed with the Interamerican Development Bank IDB, to be used to finance the Community Health Program in 54 rural municipalities.
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