Companies from various sectors will make up the group which will travel to Russia this year on a trade tour.
The businessmen will be making the trip in search of new business opportunities and in order to strengthen economic cooperation.
According to the ambassador of the Russian Federation, Vladimir Nikolay, Nicaraguan agricultural products are those with the greatest opportunities in the Russian market.
It is the longest amount of time in the entire Central American region for formalizing a new business.
Laprensa.com.ni reports: "While in Panama it takes five days to open a business, in the case of Nicaragua 36 days are needed, the longest in all of Central America, according to the Doing Business Report 2014, by the World Bank (WB) ... ".
The report reveals that although Nicaragua is a country with the fewest amount of procedures needed to start a business, "the bottleneck" is in the process of obtaining permits for electricity, construction, property registration and other things.
The low price of coffee on the international market, where a quintal is quoted at $117, are not enough cover production costs.
The cost per quintal from an improved farm is between $160 and $162 , ie more than what is paid on the international market, said Emilio Gutierrez, vice president of the National Coffee Alliance.
"The price received by the producer does not offset the cost of production, which is his investment in the production of coffee. This is critical, because there are not only losses from the rust blight, but also because of low prices," said Gutierrez.
The business community believes that tips in restaurants and hotels should be voluntary and not included on bills.
The president of the Superior Council of Private Enterprise (Cosep), Joseph Adam Aguerri and Eduardo Fonseca, executive director of the Chamber of Commerce of Nicaragua (Caconic) agree on the matter. Statements by both officials were made after Mayra Salinas, chief executive of the Nicaraguan Institute of Tourism (Intur) informed them that they will review the obligatory collection made by some establishments.
The centralization of regulatory, financial and infrastructure institutions in Managua is affecting the production and competitiveness of the private sector.
Businesses based in other regions of the country must travel to Managua if they want to apply for tax incentives, because if they do it in any of the delegations of the Institute of Tourism (Intur) they will have to wait for their documents to be sent to the capital for examination.
Nicaraguan businessmen will meet with the government to request procedures that avoid the variability of current customs clearance.
The private enterprise aims to put in place mechanisms that eliminate the discretion applied by officials in the process of customs clearance of imports, in meetings with the Government scheduled for today.
The executive director of the Chamber of Commerce of Nicaragua (Caconic), Eduardo Fonseca, said that "normally the problems revolve around the valuation of goods. But the discretion is not applied by officials in the assessment, because the value of the good might always be questioned, and if such is the case, the good should be directed to a specific process ".
Fourteen companies have been participating in, from 27th to 30th June, in the annual edition of the food fair being held in Taipei, Taiwan.
Exhibitors expect to make arrangements for the export of coffee, biscuits, sweet brown sugar, chia, cardamom, cashews, cocoa powder, and pasta.
"This time, among the participants from Nicaraguan are Cafetalera del Norte, Servitec, Fraccionadora de Occidente, Rostrán y Compañía Limitada, Fairsound de Nicaragua, Tropicana Fruit Farm, Importaciones Osorno, Cafetalera Castellón, Industrias Carphil, Dulces Victoria, Agrotecnológica de Nicaragua and Café Soluble . The nicaraguaran delegation is led by Aaron Guerrero, president of the Nicaraguan Chamber of Commerce in Taiwan (Cetainic ", reports Laprensa.com.ni
In Nicaragua orders below $500 were exempt from customs duties, which was being used by companies to import for commercial purposes.
An article in Laprensa.com.ni reports that the Directorate General of Customs (DGA) decided in March to "suspend the tax exemption applied to orders below $500 because of abuses being committed by some traders, according to the Chamber Trade of Nicaragua (Caconic).
It is no longer necessary to physically present accounting books to the Directorate General of Income, saving Nicaraguan employers time and costs.
Companies no longer have to submit their books physically to the Department of Revenue (DGI) in order to be certified by the Revenue Office or the Directorate of Large Taxpayers, as per General Administrative Provision 02-2012 which became effective on 27th March.
A new law is close to being approved which will enable foreign investment in port infrastructure through public concessions.
The National Assembly must approve this week the new General Law on Ports, an important request by domestic and foreign investors for major port development, and which has a consensus between the private sector and government.
The Nicaraguan government has agreed to the intervention of the Mediation and Arbitration Center of the Chamber of Commerce in disputes it has with companies.
Representing the state, the Attorney General of the Republic, Hernan Estrada, established the agreement with the Chamber of Commerce of Nicaragua (Caconic). This agreement is intended to expedite the resolution of disputes or controversies existing between the State and enterprises.
The Federation of Chambers of Commerce of Central America has met in Managua, to discuss proposals and initiatives to overcome barriers of various kinds to trade on the isthmus.
"The president of the Chamber of Commerce of Nicaragua (CACONIC), Mario Gonzalez, said that employers are looking for strategies to strongly influence their respective governments with the aim of stopping them from blocking regional trade, including the closure of the borders, for political reasons or non-tariff related barriers," reported La Prensa in its online edition.
Businesses described profits as "robust" and declared total sales of $110 million in 2011.
The pharmacy business experienced significant growth in 2011, earning $110 million, an increase of 22% compared to the $90 million earned last year, said the president of the Nicaraguan United Pharmacy Association, (AFUN in Spanish), Alberto Lacayo.
"Of the $110 million generated by the sector, 77% came from private pharmacies and 23% from state run ones", said the union leader, according to El Nuevo Diario. The data were confirmed by the executive director of the Nicaraguan Chamber of Commerce (CACONIC in Spanish), Eduardo Fonseca.
From 12 to July 13 Costa Rica businessmen will hold meetings with their counterparts in Nicaragua.
Costa Rica's trade mission is composed of representatives of nine food and restaurant companies.
The meeting has been organized by the Nicaraguan Chamber of Commerce and the Costa Rican Trade Promotion Office (Procomer).
"Eduardo Fonseca, executive director of the Nicaraguan Chamber of Commerce (CACONIC) said that 'this is a good time" for domestic producers to gain maximum benefit, bearing in mind that we are a highly productive agricultural country. "
Private sector representatives have opened the first commercial office in China.
In order to increase trade relations between Nicaragua and the Asian giant, whose investments are increasing in presence in Central America, the Nicaraguan Chamber of Commerce has opened a private office in Beijing.
The representatives of the Chamber of Commerce are seeking to boost sectors such as electricity, infrastructure, tourism, housing, mining and agribusiness.
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