Tourist Marinas: New Law in Nicaragua

The National Assembly approved a bill that aims to streamline the procedures for granting concessions for the development of yacht clubs and berths.

Friday, March 13, 2020

The deputies of the National Assembly approved on March 12 a new Law for the Development and Operation of Tourist Marinas that will stimulate the development of the tourism industry and encourage national and foreign investment, both public and private, in the water tourism sector, the government informed in a press release.

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Although some changes were identified in the text of the initiative, the business sector reported that the law approved is identical to the one that was jointly drafted years ago.

Lucy Valenti, President of the National Chamber of Tourism of Nicaragua (Canatur), told that "... the initiative presented by the regime was reviewed and is almost the same as the one that was being developed two years ago, when the model of dialogue-consensus between the private sector and the Government still existed."

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Valenti said that "... 'There's only one change and that's about who grants the concession. The proposal presented by the Government is that the concession is granted by the Nicaraguan Institute of Tourism (Intur), but we decided that for greater security, the concession should be granted by the Attorney General's Office, based on a recommendation from the Board of Directors of Intur, because the Council is the private sector, the MTI and other instances, it is not one person who recommends."

For the businessmen it is important that the decisions to grant the concessions are taken in a collegiate way, because in this way legal security can be given to the investors.

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