In Nicaragua, there is uncertainty because the government is reviewing the tax reform without the participation of businessmen, and because adjustments to the minimum wage could be made in September.
Weeks ago, it was reported that when the government's review of the tax reform in force in the country since February is completed, businessmen consider that no tax cuts will be made, despite the fact that production costs in the country have risen considerably.
Businessmen in Nicaragua denounced that because of the tax reform approved by the Ortega regime, the tax burden on imports of all types of beverages has tripled.
Representatives of the Nicaraguan Chamber of Industries (Cadin) explained that before the tax reform that was approved last February came into effect, importers paid the tax on the total cargo of beverages in each import, but now it was ordered that this must be applied on the retail price of each of these products.
In Nicaragua, the government plans to increase employer, labor, and state Social Security contributions, and to approve a tax reform that would increase taxes for medium and large companies.
Although the country has been in a serious economic and political crisis since April 2018, when the government tried to implement reforms to the Nicaraguan Institute of Social Security (INSS), the Ortega administration is once again trying to make changes to the institution, this time through an administrative resolution.
In Nicaragua, electricity consumption in the industrial sector fell 4% between March and August of this year, mainly due to the political and social crisis the country is currently experiencing.
Sergio Maltez, president of the Nicaraguan Chamber of Industry (Cadin), explained to Laprensa.com.ni about the reduction in electricityconsumption that "... This reduction in the sector could be the result of less activities in construction and mining. In both the construction industry and non-metallic mining, several projects have been stopped. In addition, when the crisis began, some companies temporarily closed and evidently did not consume the same percentage of energy'."
There is still a shortage of workers with the skills and technical training needed to work in several sectors, ranging from agriculture to telecommunications.
Workers with skills to not only operate but also repair specialized farm machinery, and even to train people in the operation of specialized software are what companies have been unable to find in different sectors in Nicaragua.Despite efforts, some even made byvarious private companies, to fund studies and train their employeesso that they can acquire the necessary skills, there remains a significant gap between labor supply and demand in the country.
Polaris Energy has announced an investment of $43 million in drilling new wells to increase generation capacity from 50 to 72 MW.
The company Polaris Geothermal Energy is aiming to increase its production capacity in Nicaragua and go from 50-72 MW of power. The information was confirmed by the CEO of the company, Alex Orono, during an appearance before the board of the Chamber of Industries of Nicaragua (Cadin), confirmed Elnuevodiario.com.ni.
Producers are negotiating the conditions of the free trade agreement with Taiwan in order to double the volume of sugar exported to the island to re-export to other Asian markets.
The Chamber of Industries of Nicaragua reported that representatives are exploring options with the Taiwanese government in order to increase sugarexports from 30,000 to 60,000 tonnes.
Projections for the 2014 harvest are that it will be 64 thousand tons more than the last one, reaching a record of 782 thousand tons.
The growth is attributed to the investments that are being made in the sector, which together amounted to $400 million in 2012-2016.
The CEO of the National Committee of Sugar Producers (CNPA) of Nicaragua, Mario Amador, said " ... weekly production in sugar mills is 600,000 quintals (27,600 tons) of sugar. "
Industrialists have denounced sub invoicing in the sale of live cattle in Guatemala, as a fraudulent method of getting subsidies.
From an interview in Elnuevodiario.com by Leslie Nicholas Lacayo with Alfredo Marín, vice president of the Chamber of Industries of Nicaragua, who explains the causes of the decline in exports to Venezuela, a major beef market:
Nicaraguan industry provides the greatest added value to its products and is the largest FDI recipient ($226.4 million in manufacturing, $114.3 million in mining, and $217.1 million in energy).
Sugar producers now not only process sugar, but they also generate energy and biofuel. Mining has diversified and dairy companies are making more investments in technology in various products.
A trade mission managed to secure Nicaraguan purchase intentions worth $7.8 million in the South American country in the following sectors: meat, shoes, rum, sugar and pottery.
"Among the Nicaraguan products that are in the greatest demand in Chile are beef, rum, footwear, ceramics, sugar and other agro products, as well as ‘rosquillas de maíz ‘ (corn chips or pretzels) for which negotiations are starting," reported the Center for Exports and Investments (CIS) according to Laprensa.com.ni.
An official mission will visit Taiwan looking to boost the country's investments in Nicaragua and strengthen bilateral relations.
Nicaraguan officials will hold meetings with the Minister of Foreign Affairs, officials from the Ministry of Economy and Affairs Council of the Republic of China (Taiwan) among others.
A total of 17 Nicaraguan entrepreneurs and producers will take part in a trade mission to visit the Andean country from 16th to 19th April.
Beef, cigars, handicrafts, and organic products such as roselle and honey have "great potential to break into the Chilean market," said Roberto Brenes, general manager of the Export and Investment Center (CEI).
The Federation of Chambers and Industry Associations of Central America and the Dominican Republic are demanding that governments provide efficient management and eliminate obstacles to the movement of goods.
At the last meeting held in Panama the Chambers of Industry urged their governments to have greater efficiency in customs procedures for trade in goods in Latin America.
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