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.
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.
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.
The growth is reflected in the steady growth in employment in production firms operating under the regime, which together exceed 100 thousand jobs.
The number of employees in factories in free zones reached 103,000 people in March, a record for the sector in Nicaragua, said Alvaro Baltodano, President of the National Free Zone Commission, CNZF. There are 68,019 employees in the textile sector alone.
The Venezuelan Government is negotiating the purchase of 10 million jeans produced in Nicaraguan Free Zones.
A trade mission from Venezuela, which includes Government authorities and private businessmen, is touring Nicaragua’s free zones. Alberto Baltodano, technical secretary of the National Free Zone Commission (CNZF), remarked that this deal would imply $100 million in revenue for the textile sector.
The German autoparts company expects to start operations by year's end in a free trade zone.
In 2008, company representatives announced their intention to operate in the country, planning to generate 2,000 jobs.
According to the an AFP report published in mipunto.com, "Because of the crisis, the factory decided to open operations with only 1,000 workers in the city of Masaya, 26 km south of Managua," said Alvaro Baltodano, the executive secretary of the Free Trade Zones Corporation of Nicaragua.
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