It is the longest amount of time in the entire Central American region for formalizing a new business.
Laprensa.com.ni reports: "While in Panama it takes five days to open a business, in the case of Nicaragua 36 days are needed, the longest in all of Central America, according to the Doing Business Report 2014, by the World Bank (WB) ... ".
The business community believes that tips in restaurants and hotels should be voluntary and not included on bills.
The president of the Superior Council of Private Enterprise (Cosep), Joseph Adam Aguerri and Eduardo Fonseca, executive director of the Chamber of Commerce of Nicaragua (Caconic) agree on the matter. Statements by both officials were made after Mayra Salinas, chief executive of the Nicaraguan Institute of Tourism (Intur) informed them that they will review the obligatory collection made by some establishments.
Nicaraguan businessmen will meet with the government to request procedures that avoid the variability of current customs clearance.
The private enterprise aims to put in place mechanisms that eliminate the discretion applied by officials in the process of customs clearance of imports, in meetings with the Government scheduled for today.
In Nicaragua orders below $500 were exempt from customs duties, which was being used by companies to import for commercial purposes.
An article in Laprensa.com.ni reports that the Directorate General of Customs (DGA) decided in March to "suspend the tax exemption applied to orders below $500 because of abuses being committed by some traders, according to the Chamber Trade of Nicaragua (Caconic).
A new law is close to being approved which will enable foreign investment in port infrastructure through public concessions.
The National Assembly must approve this week the new General Law on Ports, an important request by domestic and foreign investors for major port development, and which has a consensus between the private sector and government.
Businesses described profits as "robust" and declared total sales of $110 million in 2011.
The pharmacy business experienced significant growth in 2011, earning $110 million, an increase of 22% compared to the $90 million earned last year, said the president of the Nicaraguan United Pharmacy Association, (AFUN in Spanish), Alberto Lacayo.
Commercial activity fell between 25% and 30% in January, as reported by the Nicaraguan Chamber of Commerce.
La Prensa publishes on its website: "Eduardo Fonseca, the executive director of Caconic (the Nicaraguan Chamber of Commerce), confirmed this information and said that commerce is following the same course in February. If so, this would represent a reduction of $2.7 million (55 million cordobas ) circulating through trade because, according to statistics from the Nicaraguan Central Bank, business generated $10.1 million (220.6 million córdobas) in transactions in January, 2008."
ATS El Salvador is a Customs Agency with 26 years of providing services for imports, exports, transits, consultancies and international transport.
Operates in El Salvador
Phone: (503) 2235 6522 - (503) 2235 6524