Investment made by Guatemalan companies in Nicaragua almost tripled between 2014 and 2015, with money mainly going into energy, sugar, palm oil and tourism.
In the past eight years Guatemalan companies have invested $246 million in Nicaragua, according to ProNicaragua.In 2013 the highest amount in the last five years was recorded, with $46 million being invested in the country.In 2014 the amount of investment was only $6 million, while in 2015 it amounted to $16.7 million.
With an investment of $35 million and under the name Pride Denim Mills the textile the plant will restart operations in early 2014.
The textile company, which was acquired by Grupo Karim’s de Honduras announced the creation of "600 jobs to produce about 28 million yards of denim a year, which is the production capacity of the plant," noted an article in Laprensa.com.ni.
The companies announced the development of garment and sporting goods factories, which will operate under free zone regime.
Adidas’ manufacturing plant, which will operate under the free trade zone, will start operations next year, said the director of the Free Zones Corporation (CZF), Alvaro Baltodano. The company Gusta will be responsible for the plant’s operation.
The Asian company Datang Mobile will support the government in installing high-tech infrastructure.
As part of the efforts the Ortega administration is making to promote Nicaragua in world trade, a cooperation agreement has been signed between the Chinese company Datang Mobile, one of the most important in the global technology sector, and the government.
Over the last three months the cost of fabrics has increased 30% in Nicaragua, due to increases in the international price of cotton.
Álvaro Baltodano, secretary of the Free Zones Commission (CNZF), explained that Nicaragua's textile mills are already paying higher prices for this raw material, a situation which complicates a sector already in problems due to the slow growth of the U.S. economy, the main importer of the country's textile production.
The German autoparts company expects to start operations by year's end in a free trade zone.
In 2008, company representatives announced their intention to operate in the country, planning to generate 2,000 jobs.
According to the an AFP report published in mipunto.com, "Because of the crisis, the factory decided to open operations with only 1,000 workers in the city of Masaya, 26 km south of Managua," said Alvaro Baltodano, the executive secretary of the Free Trade Zones Corporation of Nicaragua.
Russian businessmen will arrive in Nicaragua on February 12 to explore the possibility of investing in a cacao processing plant.
Álvaro Baltodano, executive director of the Corporation of Free Zones said to ACAN-EFE y Prensa.com reports: "This is a project, however they have all intentions of going through with it: to establish a cacao processing plant and to export it to Russia to make chocolate.
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