In its April 2009 issue, Revista Summa will publish an exclusive interview with Javier Chamorro, Executive Director of ProNicaragua which is directed at getting to know the advances in attracting foreign direct investment and the plans that will be developed during 2009.
Nicaragua is a land of opportunities for international investors interested in developing businesses in sectors such as textiles and clothing, light manufacturing and assembly, agribusiness and forestry, contact centers & BPOs, tourism and renewable energy.
Preliminary data from the Ministry of Development, Industry and Trade (MIFIC) show that foreign direct investment (FDI) during 2008 totaled $505 million, 50% more than in 2007. The main sectors receiving FDI were energy (40%), telecommunications (29%) and free trade zones (21%); and capital for these investments came mainly from Mexico (26%), the United States (18.9%), Guatemala (15%) and Venezuela (15%).
ProNicaragua is the public-private investment promotion agency dedicated to attracting foreign direct investment and supporting businesses seeking investment opportunities in the country. ProNicaragua attracted $218 million during 2008, 43.16% of the total FDI received by Nicaragua for that year.
$ 600 million investment is projected for this year, 20% higher than 2010.
Javier Chamorro, Executive Director of ProNicaragua noted that in 2010 the energy, telecommunications and free zones had the biggest growth, followed by tourism. This year projections estimate that investments will again concentrate in these sectors.
The projected figure of Foreign Direct Investment (FDI) this year, is 80% more than the figure for 2010.
Javier Chamorro, Executive Director of the State Agency for Investment Promotion Nicaragua (ProNicaragua) told the media that the initial projections were for $1,039 million, adding that the $900 million collected this year was "close to the original goal."