Growth to stall in Nicaragua's Free Trade Zones
The vice-president of the Association of Textiles and Clothing, Roberto Bequillard, thinks that this year the free trade zones will not grow in terms of attracting new investment. He said this is due to problems with the government of Daniel Ortega.
Thursday, June 5, 2008
Bequillard, according to statements published last Sunday by the newspaper La Prensa, said the lack of clear rules and the speeches of President Ortega against the textile sector are the main reasons why growth in these zones is likely to stall.
Vice president Rosario Murillo gave details on 10 new projects to be executed in the next six months for free zones dedicated to different productive activities.
With a record $2.207 billion in exports last year in 2012, the nation aims to continue growing its free zone regime, both in terms of the number of companies and volume of exports.
A private report has analyzed the contribution of the scheme to economic activity.
The project approved by the Executive establishes a comprehensive and simplified special scheme for establishment and operation of free zones.
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