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, Laprensa.com.ni, 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. "



More on this topic

Latin American Congress on Free Zones

March 2016

From September 27 to 29 Costa Rica will be hosting an event which brings together representatives from companies and free zones in Latin America and other continents.

The Association of Free Zones of the Americas will be holding the XX Conference on Free Zones of the Americas, a space which will bring together representatives from the most important countries and free zones in Latin America, to discuss and exchange experiences and knowledge.

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.

Guatemala: Incentives for Free Zones Expire

January 2015

The business sector is demanding that the government take action to minimize the impact of the expiry at the end of the year of tax incentives granted to foreign firms in free zones.

About 1,300 companies enjoy the benefits granted by the World Trade Organization, which expire on December 31 this year. Two companies have already moved their operations to other countries, according to the Ministry of Economy of Guatemala.

Costa Rica Doesn’t Attract Investment Outside GAM

September 2012

Although tax incentives have been granted by the government, a lack of good telecommunication services and public infrastructure deters investors from setting up in less developed areas.

In 2010 reforms were introduced to the FTZ Act for the purpose of complying with the terms set by the World Trade Organization (WTO).

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