Nicaragua: Investments in Free Zone Announced

A Peruvian spinning mill is to invest $15 million in Las Mercedes Industrial Park, and soon three other companies from the call center and textile sectors will be setting up there too.

Thursday, June 2, 2016

Dean Garcia, executive director of the Nicaraguan Association of Textile and Apparel (Anitec), told that "... the Peruvian company Hialpesa, will be investing $15 million in its operation in the country and will supply other free zone factories that produce shirts. Garcia said ... they are currently installing machinery, but did not say when they will start operations. "

Regarding other investments in the free zone, Garcia explained that three companies in the textile and call center sectors are preparing to set up in the country soon. These companies, according to Garcia, are of Central American and Mexican origin. 

See: "Nicaragua: Minimum Wage in Free Zones Raised by 8%"

"... The textile and clothing sector is trying to attract companies to come there to produce the raw materials they need, such as buttons, fabric, zippers, labels, among other things, 'in order to have, to some extent, the entire supply chain within the country'. "

More on this topic

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January 2020

Despite global threats, such as the possibility of a global economic slowdown, businessmen in the sector are confident that their sales will continue to rise.

Companies operating under the free zone regime in the country, estimate that their sales abroad during 2019 amounted to about $ 1.7 billion, an amount that exceeds by 5% what was recorded in 2018.

Nicaragua: Textile Manufacturers Suffer From Expensive Energy

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The textile sector claims that the high cost of electricity in the country has become a limiting factor to foreign investment.

The union of textile companies states that more foreign investment could reach the industry if the cost of electricity was not so high. According to Dean Garcia, executive director of the Nicaraguan Association of the Textile and Apparel Industry (Anitec), "... there could be benefits from the entry of textile companies and spinning mills setting up in Nicaragua and producing sufficient raw material for the industry that already exists in the country. "

Competitiveness in Salaries in Nicaragua

June 2015

Wages of $150 make Nicaragua a magnet for investments in the region seeking competitive costs.

The Nicaraguan economy is backing competitiveness through lower wages, giving it an advantage over its Central American neighbors.

Regarding the wages earned and the situation, Dean Garcia, executive director of the Nicaraguan Association of the Textile and Clothing Industry (Anitec) told "...

Nicaragua: Free Zone Exports Up 13%

August 2014

In the first half of the year sales to outside of the free zone regime were $1.138 billion, up 13% from the $1.007 billion generated in the same period in 2013.

The presence of new foreign firms operating under the regime and the rise in the volume produced, despite a reduction in some prices in the international market, explain the 13% increase in exports from the sector.

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