Although it does not repeal Article Two of the Agrarian Law, which private enterprise has called confiscatory, it does establish the autonomy of the Coastal Zone Law in Article 63 and legally acquired private property is respected in this manner.
Leyla Jarquín wrote Elnuevodiario.com.ni : “Legislators established the autonomy of the Coastal Zone Act in Article 63, in which respect is established for private property lawfully acquired before and after The Agrarian Law of 1917. 'The article clearly states that the Coastal Zone Act is the only one that will intervene in the issue of property (coastal) in the definition of public and restricted areas,' said legislator Javier Vallejo, who stated that Article 63 'will provide legal certainty for investors and that, for all Nicaraguans, they can use and enjoy all the beaches’."
With the new Coastal Law, local governments would be responsible for granting concessions and permits for tourism development in coastal areas.
The approval of 71 of the 73 articles of the Coastal Law being discussed in Parliament would leave the granting of concessions for tourism development, service delivery, recreational uses and beach use regulations in the hands of local and regional governments.
The Law of Coastal Zones that will regulate the use and access to the coasts of seas, rivers, and lakes would be enacted before Easter Week.
The President of the Commission of Population, Development and Municipalities and Deputy Augustine Jarquín Anaya, informed Elnuevodiario.com.ni: "At the maximum of two months out, it should be approved at the plenary, because it is estimated that it is a law that enjoys consensus after years of public and private consultation with different sectors, plus some coastal native communities."
The domestic business sector demanded that this bill have the support of all the sectors involved.
Entrepreneurs argue that if the law—which establishes that vacant lots located within two kilometers of the coastline and 800 meters from lakes and ponds become property of the state—comes into effect, it would generate uncertainty among tourism investors.
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