More Jobs at Nicaraguan Free Zones

Three new companies will open in the country and four will expand operations; this will add an estimate 10.000 jobs.

Friday, June 11, 2010

Alvaro Baltodano, from the National Free Zone Commission, explained that new companies Scmith Irmaos, Draxelmaier and Hansol will employ 4.000 people.

Additionally, "Istmo Textil, Gildan, Sae-Tecnotex and NCT are expanding operations, and will hire 6.100 new workers", reported Elnuevodiario.com.



More on this topic

Nicaragua: State of the Free Trade Zone Regime

December 2015

173 companies operating in 48 industrial parks using the free zone format, in three years increased the total number of square meters used by 33%.

An estimated $300 million has been invested between January and November 2015 by companies operating under the free zone incentive scheme, which are focused on the textile industry mainly in the manufacture of harnesses, production of tobacco and more recently, services such as call centers.

Free Zones in Nicaragua Growing

March 2012

The growth is reflected in the steady growth in employment in production firms operating under the regime, which together exceed 100 thousand jobs.

The number of employees in factories in free zones reached 103,000 people in March, a record for the sector in Nicaragua, said Alvaro Baltodano, President of the National Free Zone Commission, CNZF. There are 68,019 employees in the textile sector alone.

Nicaraguan Textile Company Invests $3 Million

September 2010

Istmo Textil Nicaragua has launched a new textile manufacturing facility where it expects to employ 2,500 people.

The investment means that the company, backed by Korean capital, will look to achieve exports worth $120 million in 2010 and will employ a total of 5,000 workers.

Dräxlmaier Automotive to Operate in Nicaragua

March 2009

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.

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