Panama backs micro-businesses in poor areas

Panama's small business authority, Ampyme, aims to award businesses seed capital of US$500 and US$1,000, and it plans to follow up on what recipients do with the money.

Wednesday, June 4, 2008

The aim is to help small entrepreneurs, especially among the poor and in slum areas. Ampyme has assigned US$1 million for the program.

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Investors plan US$1.5 billion 'city on sea' in Panama

May 2008

International investors plan to build a US$1.5 billion "city on the sea" in the Panamanian province of Veracruz.

The project, to be known as Panamarina Pacific, includes 231 buildings and 2,000 moorings. The buildings will be erected on a platform over the sea.
The consortium proposing the project includes includes investors from France, Spain and Argentina and is headed by the Argentine magnate Calos LLamas.

Ortega to boost investment in free-trade zones, business sources say

May 2008

President Daniel Ortega's government told free-trade zone companies that it will promote investment in the sector, according to business sources.

"President Ortega has promised to give us more incentives," said Alvaro Baltodano, president of the Nacional Corporation of Free Trade zones. Baltodano said Ortega had told business leaders that more investment was needed to create jobs.

Guatemala's vice president aims to think big in Asia

May 2008

Guatemalan Vice-President Rafael Espada flew out on a visit to Taiwan and Korea, promising to "think big" and shake off Guatemala's inferiority complex.

Espada said he would portray Guatemala as "a modern, democratic country with a social democratic government that has a vision of growth combined with social responsibility." He added that he would seek to woo potential investors.

Nicaragua's Chinandega gears up with five-star hotel

May 2008

The Nicaraguan department of Chinandega, west of Managua, will have its first five-star hotel by the end of next year.

Netherlands-based Guido Emile Vioen, which owns and manages the project – now under construction – says the hotel will be known as the San Francisco.
The US$8 million project includes 100 rooms, shops, a beauty parlor, gym and parking for 200 vehicles.

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