Nicaragua: Streamlined Procedures in Free Zones

The reactivation of the Comisión Aduanera de Zonas Francas (Customs Free Zone Comission) will speed up the processing of this sector's imports and exports.

Tuesday, July 12, 2011

The executive director of the Nicaraguan Association of Textiles, Anitec, Dean Garcia Foster, said that in addition to streamlining procedures it will also create savings in operating costs.

Garcia added, "This includes the elimination of bureaucracy in the different ports around the country, mainly in the port of Corinto and the air cargo terminal ... a computer system will be implemented that is to say all customs documents will now be digital instead of paper based."

"In 2010 $1.100 million worth of goods were exported via the free trade zones and it is expected that this figure will rise at the end of this year", reported Elnuevodiario.com.ni.



More on this topic

Minimum Wage Increases in Free Trade Zones

January 2019

On January 5th, 2019, an 8.25% increase in the minimum wage for workers in free trade zones came into effect in Nicaragua.

According to the Ministry of Labor, the minimum monthly wage in the free trade zones last year reached $168 during 2018, and with the increase in force since the beginning of the year, the minimum monthly payment will be $182.

Nicaragua: Buying From Tax Debtors Banned

July 2013

Businessmen are opposing, because of its illegality, the position of the Department of Revenue, which is ordering free zone companies not to buy raw materials or services from providers who owe taxes.

In addition, the Department of Revenue (DGI by its initials in Spanish), asked companies to ask suppliers to pay off their debts, a proposal that has been rejected by the private sector.

Free Zones in Nicaragua After New Markets

August 2012

Given the possibility of reduced orders from the U.S., the free zone sector is looking to conquer the European market.

The executive director of the Nicaraguan Association of Textile and Apparel Businesses (Anitec), Dean Garcia said that although at the moment the amount exported to the European market is minimal, "... the important thing is to plan for the alternative now."

Demand for Textiles Stagnates

June 2012

After strong growth in the early part of the year, textile mills in the free zones of Nicaragua are reducing their workforce due to falling orders from the U.S.

In January and February, customer demand in the U.S. grew by 55%, but has declined in recent months according to the growth of inventories, said representatives of companies in the textile zones.

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