The Nicaraguan government is analyzing new forms of cooperation with Russia, including the possibility that the Managua airport expansion be financed and built by Russian companies.
The possibility of airport infrastructure in the capital being developed using funding from Russia, was one of the announcements by authorities of the Ortega administration in the context of an official visit to the country, whose government had already announced plans to develop a manufacturing center for flu shots in Managua.
An announcement has been made of the launch of a new tobacco production export plant in the city of Esteli, with an investment of $2 million.
Government representatives noted that the 1000 square meter production plant will operate under the free zone regime, employing 400 people and it will start operating in January 2016.
The Executive has submitted a reform bill to extend tax benefits for investments in renewable energy projects until January 2018.
Among the tax incentives that exist for investment in renewable energy is exemption from the "... Import Custom Duties (DAI), Value Added Tax (VAT) and Income Tax (IR). "
The initiative aims to reform Article 8 of Law 532, which cites that "investors interested in promoting the development of new projects in power generation from renewable sources or make additions to generating capacity from renewable sources, may receive the benefits established by law number 532, for a period of time which ends on 1 January 2018 ".
The Ortega administration has attended to the demands of the real estate sector and sent to the Assembly a bill to lower electricity rates for consumers of more than 150 KW.
Finally the Nicaraguan government has responded to the request made by the Superior Council of Private Enterprise (COSEP) and sent to the National Assembly regarding a bill which establishes a reduction in the electricity rates for residential and other sectors that consume more than 150 KW.
The private sector has rejected the methodology used by the government to establish the increase for this year and presented a proposal to make adjustments in the future.
From a statement issued by the Superior Council of Private Enterprise (COSEP):
The Superior Council of Private Enterprise (COSEP) in light of the unsuccessful negotiations in the National Minimum Wage Commission to reach a tripartite agreement and the political decision of the government through the Ministry of Labour (MITRAB), to approve the minimum wage unilaterally, which is in effect for all economic sectors of the country from March 1 this year, wishes to express the union position on this.
The private sector will be asking the government to implement a differentiated rate for electricity companies in order to avoid losing competitiveness against the rest of the region.
In light of the governments refusal to reduce electricity rates, the private sector has proposed the creation of a lower differentiated rate for users who consume more than 150 Kw / h per month, which are mostly companies.
The construction of the refinery El Supremo Sueño de Bolívar in Miramar, remains paralyzed as the government seeks funds to finance the second phase, the refinement complex.
At the moment, only the storage and distribution complex has been finished, works which were funded by Venezuela, but according to the agreement signed "... When oil is at $50, only 40% of that price is given in financing to the beneficiary country." Because of this, the government is seeking foreign funding for a second phase, but international conditions are not the best for resources for a project that "... does not seem to be profitable."
Authorities at the Ministry of Health in Nicaragua have strengthened health checks at the border with Honduras due to the presence of paralytic bovine rabies in the department of Lempira.
Although health authorities have assured that the outbreak now poses no risk to Nicaragua, preventive measures are being implemented such as " ...Controls focusing on 100% of notifications of animals, domestic or wild, suspected of having rabies.
The Central American Bank for Economic Integration has approved a loan of $149 million for the construction of 126 miles of road between the towns of Mulukukú and Siuna.
From a statement issued by the Central American Bank for Economic Integration (BCIE):
The Central American Bank for Economic Integration (BCIE) and the government of Nicaragua signed a loan for $149.2 million to finance the 'Project to Improve Rural Roads and Highways with a Connection to the Nicaraguan Caribbean '.
Entrepreneurs in the fisheries and aquaculture sectors are demanding that the government boost production of the species, whose consumption is projected to grow globally.
The government still has not spoken on the topic, but it is expected that industry representatives will meet with officials next week to refine the development plan for 2015, which includes raising tilapia.
The mayor of the capital has started earthworks estimated at $35 million and plan to convene tenders for the construction of the stadium structure in the coming months.
The tender for the construction of vertical works will be undertaken by the Municipality and is expected to be convened in six months time. The new National Baseball Stadium will require an investment of approximately $35 million, funds will be provided by the Nicaraguan Government through a loan already approved by the Board of the City of Managua.
In 2014 production in the fisheries and aquaculture sectors increased by 28%, but due to low international prices export earnings declined by 8% compared to 2013.
Fisheries and aquaculture production in 2014, equivalent to 96.7 million pounds exceeded projections made by sector earlier this year and recorded a 28% increase over the previous year. However, according to the Center for Exports (CETREX), it sold $19 million worth less than in 2013.
The productive sector has indicated that the savings generated by the reduction in the price of oil should be applied to energy tariffs.
Although this proposal is gaining strength in the context of falling oil prices, the private sector and had actually raised the idea last year. It is expected that later this month it will be once again taken to the Bureau of Energy Sector in order to cover the $ 202 million in debt generated from loans for the subsidy, and to conduct a review of the electricity tariff.
On December 22 the concessionaire of the Grand Canal in Nicaragua, HKND started preliminary works, including the construction of access roads to the excavation sites and other facilities.
Representatives from the Nicaraguan government and the president of the Chinese company HKND, Wang Jing, inaugurated the start of the project to build the canal, which will start, according to the concessionaire, with the ancillary works which are needed before the main work can be begin.