A study by Funides details the numbers for the sector and points to factors impeding further development such as low productivity due to lack of genetic development and mechanization, in addition to excessive dependence on climate.
According to the Nicaraguan Foundation for Social Development (Funides), the main challenges facing the livestock sector are low productivity, high dependence on climate, lack of genetic development, little mechanization, higher demands from international markets, sanitary barriers and those of neighboring countries, lack of public services and infrastructure and low industrialization.
In order to speed up timeframes and procedures, employers have asked that the requirement be eliminated or that the the timeframe, currently one month, be extended to at least one year.
In Central America, only authorities in Nicaragua are demanding compliance with fiscal solvency, which directly affects the competitiveness of local exporters against the rest of the region. In order to speed up the times and procedures, employers are asking for the requirement to be eliminated or that the timeframe, currently one month, be extended to at least one year.
Greater amounts of private investment, mainly in the construction sector, explains part of the annual increase of 8.6% in formal employment in June 2015.
The number of workers registered with the Social Security Institute (INSS) went from 709,019 in June 2014 to 77,317 in the same month this year. At the same time, the average nominal wage increased by 6.6%.
Textile companies operating in free zones are preparing adjustments such as reductions in production lines in order adapt supplies in the event of the loss of tariff preference level, or TPL.
Although the timeframe for the expiration of the Tarriff Preference Level system with the United States is December 31, several companies are already starting to take steps to adjust their production in anticipation of the agreement not being renewed.
With the reform to the law on Tax Concentration non-resident investors in the country will have to pay 15% instead of 10% on income earned from capital.
According to Juan Sebastian Chamorro, executive director of the Nicaraguan Foundation for Economic and Social Development, the new reform "... is a positive thing for the country because it will generate an increase in the collection of such taxes but is a negative blow to natural and legal non residents because the Revenue Department will no longer deduct 10% on capital transfers, but rather 15 %. "
The report highlights that the economic slowdown that had been observed in the year seems to have stopped in September and that the pace of overall economic activity exceeds that of other countries in the region.
Potential investments in land next to a route that has still not been defined will not be realized until there is certainty about what will happen to those properties.
From a statement issued by the Nicaraguan Foundation for Economic and Social Development:
If built, the Interoceanic Canal would have impacts on the national economy which are difficult to pin down because of the magnitude of the project and the limited information available. Due to the relevance of this work and its potential impact on Nicaraguans it is essential to have clear and timely communication and have the necessary information required for a project of such importance, in order to enhance the positive and reduce uncertainty and any negative impact.
This year the government plans to invest $146 million in improving and expanding the country's road network.
Between 2007 and 2012 the road network and road inventory grew by 17.5%, with the amount of paved surfaces going from 20,333 km2 to 23,897 km2.
"This year, Nicaragua will continue to improve its road network, as, according to the Economic Situation Report for the first quarter of 2014 by the Nicaraguan Foundation for Economic and Social Development, Funides, the main item in the Public Investment Program, PIP, is road infrastructure, especially road improvements by the Ministry of Transportation and Infrastructure, MTI. "
A Property Ordinance has been proposed which aims to complete the registration process for 10 thousand of the 106 thousand square kilometers that are currently without cadastre.
In the second phase of a program for a mass titling system, supported by the World Bank, the intention is to register 10,000 out of the 106,000km ² that are still without cadastre. In the land cadastre there are 24,000 km ², representing just over 19% of the total area of the country and the project would increase it to 33,000 km ².
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PRONicaragua, is the Nicaraguan Investment Promotion Agency, established in 2002. We are a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The Agency provides complimentary support services to qualified investors seeking investment opportunities in our country.
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