More and More Free Zones in Nicaragua

With a record $2.207 billion in exports last year in 2012, the nation aims to continue growing its free zone regime, both in terms of the number of companies and volume of exports.

Wednesday, February 13, 2013

Beyond having obtained these successful figures, the aim is to attract more businesses and diversify economic activities. Within these objectives, the installation of the U.S. textile company, Millknit Industries, has already been announced with an initial investment of approximately $25 million.

In this regard,, interviewed Alvaro Baltodano, presidential delegate for investment and technical secretary of the National Commission of Free Zones.

"Could exports grow this year despite the textile sector suffering from less demand?

Yes. We believe that this year we will have significant growth, firstly because we will have cloth production. We are convinced and believe that Cone Denim can be opened and that will bring added value to exports, and in the fourth quarter several manufacturing companies entered into the regime who were not there before... Also having started operations is a company that is building an industrial space in Niquinohomo measuring 30 thousand square meters. Those projects that are concrete, already in existence, this year will be providing jobs, increasing exports and investment. "

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