The service outsourcing industry in the country generated a yearly revenue of $6 million in 2008, and nine years later, the industry's revenue is close to $150 million.
Currently 45 companies operating under the free zone regime are engaged in outsourcing services in the country.This figure far exceeds that of 2007, when there were 12 companies in this sector.The incentives provided by the free zone scheme, coupled with the low labor cost demanded by these types of service centers, explain much of the growth that this market has experienced in the country.
$1,442 million was the total amount invested by foreign companies in the past year in the country, mainly in the telecommunications industry.
A Central Bank report indicates that $274 million was invested in industrial activities, while the telecommunications sector received investments of $232 million.$138 million was invested in commerce and services.
The arrival of foreign investment to the west of the country is being promoted, in places where there are already companies interested in developing the potential for metal mining in the area.
The Mining Chamber of Nicaragua projects growth of 5% in exports this year compared to 2015, driven by a rebound in gold prices internationally and investments in the sector.Sergio Rios, director of the union, also attributed the positive growth projection to the approximate 5% achieved in production.
At the end of the first half of the year maquila textile exports to the United States grew by 13% compared to the same period in 2015.
Figures from the biannual report by the US Office of Textiles and Clothing (OTEXA) show that between January and June Nicaragua sold 255 million square meter equivalents (SME) to the United States generating revenues of $708 million.
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.
TreviGroup will be visiting the country to meet with business leaders and government officials to evaluate business opportunities in the project of the Grand Canal and other construction areas.
TreviGroup construction company will meet with representatives of the Superior Council of Private Enterprise (COSEP); the Nicaraguan Chamber of Construction (CNC) and government officials in order to find out about and evaluate participating in the construction of the Grand Canal and other construction opportunities in the country.
In Nicaragua a proposal has been made to create a training center to improve the labor performance in free zones and attract more foreign investment to the sector.
In order to improve employees skills and increase the productivity and competitiveness of enterprises, the National Commission of Free Zones (CNZF) is proposing the creation of a textileschool, where ongoing training on production techniques would be provided for the sector.
A bill that is being analyzed by the U.S. Congress aims to reduce the level of tariff preference to only 6% of imports from Nicaraguan textile factories.
Although the possibility exists of an extension of the current Tariff Preference Level (TPL) until 2015, American congressmen have proposed that the benefit be granted only on cotton pants, which represent the lowest proportion of Nicaraguan textileexports to the United States.
During the first six months of 2013 FDI amounted to $690 million, versus $633 million in the same period of 2012.
"If we continue (with) this growth, logically we will reach $1.5 billion dollars" in investments, said Alvaro Baltodano, presidential delegate for Nicaragua investments.
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.
Beyond having obtained these successful figures, the aim is to attract more businesses and diversify economic activities.
After exporting 120 million cigars in 2012, Nicaraguan tobacco companies aim to reach 150 million units in sales in 2013.
If the sale goal is achieved, Nicaragua will have positioned itself as the leading exporter of cigars, removing the Dominican Republic from the top position.
The U.S. company Millknit Industries is to produce fabrics for the maquiladora industry, beginning operations in the first quarter of 2013.
Operating in the industrial park Las Mercedes, the textile company will begin operations between January and February 2013, informed the technical secretary of the National Commission of Free Zones (CNZF), Alvaro Baltodano.
Millknit Industries will begin operations in early 2013, producing fabrics for clothing companies established in the free zones.
Following the closure of Core Denim in 2009, Nicaragua has had no cloth production, which is a disadvantage for the clothing sector, which has to import its raw materials.
Nicaragua now has a surplus of $1 billion and trade with the country has grown by 75% in six years, thanks to the DR-CAFTA, overtaking Guatemala and the rest of the region.
Six years after coming into force and following record levels of growth in trade and investment, Nicaragua has become the region’s unlikely poster child for DR-CAFTA.
Most notable are the opportunities in agriculture "because there is a lot of land" for production in sectors such as cocoa, rubber, oil palm and sugar.
A delegation of businessmen and government officials from Nicaragua will meet with Guatemalan entrepreneurs from the agricultural sector in order to persuade them to invest in their country.
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...
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