Representatives from various Nicaraguan business chambers argue that this law will negatively impact an already depressed commercial sector.
Dubbed Law of Tributary Concentration, the bill "pretends to collect up to 1.5% of the Gross Domestic Product, in a progressive way between 2010 and 2011", and is being discussed in the National Assembly. Delegates from the commerce chambers of Rivas, Chontales and Matagalpa expressed their concern for the effect of this law, arguing that domestic commerce has fallen between 30% and 50% depending on the zone.
With 80 companies participating from Nicaragua, Mexico, Brazil, and Taiwan the industrial expo is developing in Nicaragua.
This is the first time that an international expo has been organized by the two business chambers, the Nicaraguan Chamber of Industry (Cadin, acronym in Spanish) and the Nicaraguan Chamber of Commerce (Caconic, acronym in Spanish).
From July 1-4, the I International Fair of Trade and Industry, Exponica 2009, will take place in Managua, Nicaragua.
Exponica 2009, organized by the Chamber of Commerce of Nicaragua and the Chamber of Industries, aims to publicize Nicaraguan product offers both locally and internationally and to make international contacts that will help increase exports.
During the first quarter, Credomatic recorded a decline of 3% in credit card use with respect to the same period in 2008.
Credomatic is the strongest participant in the Nicaraguan credit card market with 150 thousand customers, and it processes 70% of the total transactions in the country.
A Prensa.com.ni article reported: "Details by the Superintendent of Banks (SIB) suggested that up to and including December 2008, the country had 384,405 cardholders, while the number of credit cards was 539,331, which indicates that each debtor has more than one credit card."
43% of the member companies of the Chamber of Trade in Nicaragua expect to cut jobs and 40% will mantaint the current level.
In an article on the elnuevodiario.com.ni, the president of the Chamber, Ernesto Porta, declared that "The results of the survey indicate that 83 percent of our members are going to maintain or reduce jobs positions" and "...he added that in January of this year the sector experienced very low activity, coinciding with a decrease in imports..."
A 100% Costa Rican owned company devoted to the direct import and distribution of polyethylene tanks. We have been operating for more than 20 years and have expanded operations throughout Costa Rica and Central America.
Operates in Costa Rica, Honduras, Nicaragua and Panama
Phone: (507) 221 6160 - (506) 2537 0904