The union of Private Free Zones plans to build five new business parks in 2014.
In 2014 the plan is to supercede the investment of $150 million which was made in 2013, with the implementation and establishment of new zones to boost the arrival of new businesses in sectors such Chontales where there is a new bridge over the San Juan river and the new Acoyapa-San Carlos road which is an export route for Puerto Limon, Costa Rica.
The firm Hansae and a local partner will build new facilities for producing fabric in Niquinohomo, south of Managua, with capacity for 7,000 jobs.
A local company and the Korean textile firm, Hansae, will build on a total area of 70,000 m2 a new facility for a textile factory, which represents the extension of the Asian firm's investments in Nicaragua, said the president of Zona Franca SA Niquinohomo, Mario Zelaya.
Government and producers have agreed to amend the Fiscal Equity Act to reduce the costs of food production.
Representatives of the Higher Council of the Private Enterprise (COSEP) and the government met to discuss ways to alleviate the increase in food prices, caused especially by the rise in electrical energy costs.
An article in Prensa.com.ni reports that, "according to Bayardo Arce, presidential adviser for economic affairs, a reform ot the Tax Equity Act must be presented to the President of the Republic ‘urgently’ so that it can be sent to the National Assembly, looking to get it approved in an expeditious way. Arce said the partial tax reform seeks especially to curb the rise of two cordobas per liter of milk, but it also aims to alleviate some problems faced by the rice and poultry sectors. "
Over the next 13 years the country needs to invest about $6,000 million in order to meet the demand for electricity.
About 3,000 megawatts will be needed to meet demand over the next five years, including about 600 MW currently being generated by plants based on bunker fuel, which are scheduled to be removed from the system.
The South Korean textile company Hansae Nicaragua S.A will be investing between 2011 and 2013 in order to expand its industrial park situated in Masaya.
The works for expanding the industrial plant by 60,000 square foot will be carried out in two stages, with the first stage starting in December.
The president of the Nicaraguan Chamber of Construction, CNC, Mario Zelaya, told Elnuevodiario.com.ni, "The project will start with 30 million square feet first and then with the other 30 thousand in 2013. It will involve a total investment of $25 million. The first phase will involve $15 million and the second $10 million. The contract has already been signed."
The construction sector expects this year to be close to 2009 levels and projects growth for 2011.
In 2008 the sector contributed to Gross Domestic Product (GDP) $ 420 million, in 2009 fell to $ 330 million. Mario Zelaya, president of the Nicaraguan Chamber of Construction, said they expect the 2010 figure to be close to 2009 and projections for 2011 is $ 400 million.
Two Korean companies have signed an agreement with the Nicaraguan Ports Authority to design and build the Caribbean port.
The memorandum of understanding signed by the South Korean companies Dongmyeong Engineering & Architecture Consultants (DMEC) and Ox Investment states that the project will require investment of $500 million.
During the last year and half, there has been a 40% loss in employment in the formal sector, and of that figure, 20% was from this year.
Estimates from the Nicaraguan Chamber of Construction (CNC, acronym in Spanish), composed of 45 active companies, indicate that at least 15,000 people, mainly laborers and job supervisors, lost their jobs since the beginning of last year.
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