Possible Korean Investment in Nicaragua

Representatives of the governments of South Korea and Nicaragua are holding meetings to explore Asian investment in projects in information technology and communications.

Monday, September 24, 2012

Elnuevodiario.com.ni reports Vice President Omar Halleslevens comments on the topic, stressing that the talks so far are not focused on any particular project, but on investment opportunities in areas of technology and communications.

The Nicaraguan Council of Science and Technology (CONICYT) is the area where the conversations are taking place, which has a history of Korean investment in the expansion of the water system in Juigalpa and part of the National Sustainable Electrification and Renewable Energy project, worth about $100 million.

Hallesleven stressed that "South Korea is an important trading partner for Nicaragua." The vice president said that "between 2002 and 2006, Nicaragua exported to China only U.S. $3.6 million worth, while in the period 2007-2012 sales were U.S. $36 million."

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