The Coastal Act passed four years ago encouraged tourism and real estate development in the Pacific.
Businessmen claim that the legal certainty provided by the legislation has resulted in more tourism and real estate projects in coastal areas, but there are still a lack of incentives for investment in projects in the Caribbean.
Adiak Barahona, CEO of Gran Pacifica Resort, told Laprensa.com.ni that "the Coastal Act eliminated uncertainty for landowners near the beach and encouraged the building of homes measuring more than 300 square meters."
Leading Nicaraguan entrepreneurs continue to support the model of economic negotiation with the government.
"Everyone here is free to move, the press is free to speak and I think from that point of view we are living in an open society," said the businessman Carlos Pellas, president of Grupo Pellas.
Entrepreneurs like Carlos Pellas and Piero Coen agree that the "understanding with the Government has brought economic growth."
"In the eighties Ortega and his cronies harassed private capital and reaped a great economic downturn. Now they are being treated better and the country is running better."
An article by Humberto Belli Pereira in Laprensa.com.ni discusses the symbolism of the Guacalito Island project, in a country ruled by a leftist party whose members, at some point, postulated the most rancid anticapitalist concepts.
Grupo Pellas has estimated that this will be the number of jobs generated once the project becomes operational.
The Guacalito Tourism Project, which is being developed by the Pellas Group on Nicaragua’s Pacific beaches will be inaugurated at the end of next year, company representatives announced.
The construction of the project is progressing steadily, and so far over a thousand people have been employed, but it is estimated that this figure will increase as work progresses and operations start.
In the end it was not the Pellas Group that saved the newspaper, but Ramiro Ortiz Mayorga, an entrepreneur who has signed an agreement on funding.
The financial and economic crisis in El Nuevo Diario seems to have found a solution, at least for now. The fate that could have befallen the online newspaper opposing the Sandinista government had caused serious concern because of the imbalance that would have occurred in the media, seeing as the most interested in acquiring the paper was an economic group closely akin to the government.
Businessmen injected $1 million to meet the newspaper’s most urgent debts.
Contrary to what is believed, the group of investors are not linked to the family of President Ortega, or members of the Sandinista National Liberation Front but are private entrepreneurs.
The newspaper reported that the resources will be used to meet liabilities which have complicated the paper's financial situation, mainly related to purchases of paper, printing plates and inks.