The countries analyzed cooperation possibilities in health, tourism and public infrastructure.
Samuel Santos, Nicaraguan Chancellor, met with Ezza Saad, Egypt’s Foreign Relations vice minister and offered the African country legal certainties and economic advantages for investing in the Central American nation.
At the meeting, they also discussed other cooperation possibilities in the medium term, such as the pharmaceutical industry, tourism, infrastructure, culture, public infrastructure, diplomacy and technical cooperation.
In 2010, Spanish government cooperation and private investment in Nicaragua could be above $100 million.
Antonio Pérez Hernández, Spanish Ambassador, explained they expect investment and further cooperation in tourism, energy, drinkable water projects, health and education.
Regarding Nicaragua’s business climate, he stated that Spain is mainly worried for the lengthy bureaucratic processes, such as “operation permits and taxes”.
In 2009, Foreign Direct Investment will drop 30% in Nicaragua, according to preliminary data.
The country received $600 worth of FDI in 2008 (60% more than in 2007), and expects to close 2009 with $450 million.
"Despite this year's results in foreign investment, Alvaro Baltodano, presidential investments delegate, is optimistic for 2010. He explains there are several strategic investments being studied, and the figures could be substantially larger than this year", reported Elnuevodiario.com.ni.
The Tourism Ministry has approved tourism investments for $129 million so far 2009.
According to the ministry, this is the highest recorded investment in the past 10 years.
"Most of the approved projects are located in the Pacific coastline, and a few in Nicaragua. 73% are hotels, which will generate 1200 construction jobs and 554 permanent positions when operating", published Elnuevodiario.com.ni.
The manufacturing sector as a whole saw a decline in FDI due to a sharp drop in flows to Central America and the Caribbean.
In Central America and the Caribbean (other than financial centres), the decline in FDI inflows was largely due to a 20% fall in flows to Mexico, which mainly resulted from a halving of inflows to the manufacturing sector (CNIE, 2009).
¿Which are the most attractive countries for Foreign Direct Investment? In Central America and the Caribbean, Puerto Rico is ahead, followed by Costa Rica and Dominican Republic.
fDi Magazine presented the results of their first fDi Countries of the Future 2009/10 Award.
The fDi Countries of the Future ranking is calculated by gathering data on foreign direct investment for 31 countries of the Caribbean and Central America.