The plan to reduce subsidies on electricity tariffs could be executed within four years, between 2018 and 2022, and in coordination with the business sector.
The Ortega administration's plan is to start with revision of the current subsidy schemes and develop a strategy to reduce them gradually.
Problems related to lack of infrastructure such as roads, ports and airports could be solved if the bill on public-private partnerships being prepared by the government and the private sector is successful.
The Draft Law on Public Private Partnerships to be presented in the coming days by President Ortega was prepared in conjunction with private sector representatives, explained the president's economic adviser, Bayardo Arce.
It has been announced that using funds from the Inter-American Development Bank a tender will be launched for a plan to improve and streamline cross-border trade in the region.
The goal is to design and implement a system to improve and expedite the transit of goods between the Central American countries which currently face several obstacles affecting competitiveness, such as customs delays and duplication of procedures.
A proposal has been made to avoid paralyzing the import process when a commodity shows "doubt on value" and investigate later the eventual errors in invoices.
Several entrepreneurs have complained about the fact that the Directorate General of Customs (DGA) stops the import process when a possible error in the value assigned to the goods on the invoice is detected, and they are demanding changes so that problems can be resolved later and for the customs clearance of goods to be allowed.
A proposal has been made to draft a new telecommunications bill from scratch, completely leaving out the concepts of state control that the current proposal contains.
In the view of the private sector, the way the "Law on broadband" bill is drafted is not clear and leaves open the possibility for the State to exercise excessive control over internet access in the country. For this reason, they are asking for a consensus among all sectors to develop a new bill.
The private sector is proposing that universities develop courses at a technical level in areas such as electronics or hospitality, rather than just focusing on higher level academic degrees and diplomas.
This shift in the educational system which it is hoped will happen in universities would need to be a public-private joint effort, since, according to presidential advisor Bayardo Arce, "... Low levels of science, technology and innovation have affected economic development .... "
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.
Exemption from VAT and income tax for SMEs operating under the fixed quota regime will be retained in the Tax Act Coalition whose reform is being proposed by the Executive.
There are about 200,000 small and medium enterprises (SMEs) operating under the so-called fixed quota regime, contributing 40% to gross domestic product (GDP).
With the consent of the private sector, the government has announced that it will remove from the Tax Coalition Law the article which establishes an end to exemptions on December 31st this year.
The executive Power will this week present the law reform to the National Assembly, and it is expected that it will be approved before the end of the current legislative period.
The guild is analyzing looking for new markets to buy raw materials for the manufacture of textiles, if the US does not renew the tariff preferences.
The Tariff Preference Level (TPL) expires on December 31 and if it is not renewed the Nicaraguan textile industry will be looking for new suppliers such as India, China and Chile, which have lower supply than in the United States.
A proposal has been made to demand a definite time frame from the Brazilian consortium Eletrobras and Queiroz Galvao to start the construction of the hydroelectric dam Tumarín, which has been announced several times but has never materialized.
Presidential adviser Bayardo Arce told Laprensa.com.ni that it has been suggested to the government of Daniel Ortega that a deadline be set for the start of the work, seeing as the project should have started in July and to date, the consortium has only demanded additional compensation without giving details on the start of the project.
In Nicaragua, the Caribbean town of Bluefields lacks potable water which prevents it from receiving tourists.
The government has announced that it will install a new plant in the Caribbean town of Bluefields in order to adapt the conditions of the area and encourage more tourism.
Nicaragua and the concessionaire CHN have signed a concession agreement in which the Brazilian company promises to start construction in mid-2014.
The largest hydroelectric project in Nicaragua has so far read like a never ending story, as over the last few years a number of announcements have been made for the start of its construction, which until now has been hampered by lack of agreement on the tariffs that will be set by the Brazilian company for electricity sales.
The Ministry of Labor will define the wage adjustment in the absence of an agreement between the private sector and trade unions.
In the last meeting on 13 March the parties were not able to reach an agreement. The private company proposed an increase of 9%, while unions demanded an adjustment of between 10% and 14%.
Freddy Blandon, representative of the Superior Council of Private Enterprise, Cosep noted that "...
Companies are preparing for the process of tariff reduction for imported goods and services from the United States under the FTA.
Starting 2015 various products will be able to come into Nicaragua from the U.S. tax free. Employers are now preparing for the tariff reduction process of the Free Trade Agreement between the U.S., Central America and Dominican Republic (DR -CAFTA).
Real Estate Development & Adventure Park Jacó, Costa Rica. Multiple Investment Opportunities Available. The Ocean Ranch eco-residential development is located...
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
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,...
español
2770
