On 10 November, a joint mission will travel abroad to promote foreign direct investment mainly from Germany, England and France.
General Alvaro "Baltodano said that although there are European investors in Nicaragua such as the Barceló Group, the cocoa producer Ritter Sports and the automotive component manufacturer Draexlmaier, the country needs to attract more investment as part of the benefits available under the AA with Central America", reported Elnuevodiario.com.ni.
The government is looking for Spanish hotel groups to invest in the country, offering them almost 100% tax exemptions for 10 years.
These benefits could be extended if the company invests, in the 10 year period, at least 35% of the original sum.
Nicaragua wants to enlarge its hospitality offering, currently 7.800 at hotel rooms, to compete with its neighbors. Costa Rica, for example, has 38,000.
Spain's Barceló hotels group announced plans to build three more hotels in Central America.
Speaking in Managua, Juan José Ribas, the chain's regional director, said one of the new hotels would be built in the Nicaraguan capital and another in Panama. He did not say where the third would be built.