The service outsourcing industry in the country generated a yearly revenue of $6 million in 2008, and nine years later, the industry's revenue is close to $150 million.
Currently 45 companies operating under the free zone regime are engaged in outsourcing services in the country.This figure far exceeds that of 2007, when there were 12 companies in this sector.The incentives provided by the free zone scheme, coupled with the low labor cost demanded by these types of service centers, explain much of the growth that this market has experienced in the country.
The company Mitsui may have told the Ortega administration that it is interested in participating in port infrastructure works in the country.
Representatives from the Japanese multinational firm Mitsui met in Managua yesterday with delegates from the state-run Investment Promotion Agency of Nicaragua (ProNicaragua) to discuss the possibility of investing in this country, an official source reported.
Between 2011 and 2015 investment by Mexican companies grew by 112% and bilateral trade increased by 41% in the same period, going from $1,042 million to $1,471 million.
In 2011 investment made by Mexican companies in Nicaragua totaled just over $115 million, while in 2015, that figure exceeded $244 million, according to figures from ProNicaragua.Industry, telecommunications and commerce are the three major sectors that received the most Mexican investment in 2015.
It has been announced that the company Supertex plans to invest $8 million in setting up a textile production factory in the country, which will start operating in July 2017.
The Investment Promotion Agency of Nicaragua (ProNicaragua) announced that the textile company Supertex, of Colombian origin, will begin operations in July.
The arrival of foreign investment to the west of the country is being promoted, in places where there are already companies interested in developing the potential for metal mining in the area.
The Mining Chamber of Nicaragua projects growth of 5% in exports this year compared to 2015, driven by a rebound in gold prices internationally and investments in the sector.Sergio Rios, director of the union, also attributed the positive growth projection to the approximate 5% achieved in production.
Investment made by Guatemalan companies in Nicaragua almost tripled between 2014 and 2015, with money mainly going into energy, sugar, palm oil and tourism.
In the past eight years Guatemalan companies have invested $246 million in Nicaragua, according to ProNicaragua.In 2013 the highest amount in the last five years was recorded, with $46 million being invested in the country.In 2014 the amount of investment was only $6 million, while in 2015 it amounted to $16.7 million.
Businesspeople from Santa Catarina are seeking deals in Nicaragua with the support of a $10 billion credit line at 7% granted by the Bank of Brazil.
A trade mission by ProNicaragua intends to visit Brazil in the second half of the year to explore trade and reciprocal investment opportunities in sectors such as agribusiness, said Carlos Virmond, Secretary of International Affairs for the southern state of Santa Catarina in Brazil to Elnuevodiario.com.ni.
Governments have agreed to promote investments in binational fishing projects in the maritime waters of the Central American country.
A further agreement strengthens the economic relationship between Russia and Nicaragua, this time to promote binational investment and improve technologies in fisheries projects.
From 30th of November to 3rd of December 14 Nicaraguan companies producing food, textiles, handicrafts, meat and grains will visit Panama to explore business opportunities.
The activity is being organized by PRONicaragua and will include the participation of exporters of products such as "... conventional snacks, clothing, roots and tubers, beans, meat, handicrafts, awnings and marquis."
A consortium of national and international agencies has proposed a plan to improve the quality and productivity of Nicaraguan specialty coffees and their promotion in the European market.
The plan entitled "Strategies for promoting specialty coffee in Nicaragua" seeks to replicate successful experiences in financing, technical assistance and technological innovation models, in order to strengthen the production process of small and medium producers.
Nicaraguan firms will be taking part in the Anuga food fair, to be held from 10 to 14 October in Cologne, Germany.
The Official Agency of Investment Promotion and Export (PRONicaragua) is the group leading the organization of the food companies that will participate in the international fair to be held in Germany.
The project aims to create a free trade zone which will offer offshore financial services and related economic activities.
The Nicaraguan government's proposal to create a free trade zone to provide tax incentives to attract financial sector companies and to exported services from there has raised doubts in some quarters, with accusations being made that the bill evokes the concept of a tax haven. However, ProNicaragua defends the bill, asserting that the goal is to attract investment of greater value, both in finance and other industries.
The start of operations by Lala will have a favorable impact on the conditions of production and quality of milk and stabilize the price of milk for producers.
The start of operations of a plant with capacity to process up to 300 thousand liters of milk per day will result in benefits not only for the production sector, which could sell most of the expressed milk, but also force an improvement in the regional dairy market conditions, infrastructure and production practices related to animal feed, sanitary measures, among other things.
The new plant belonging to the Mexican dairy company Lala has capacity to process 300,000 liters of milk per day and will change the Central American dairy market.
Javier Chamorro, Executive Director of the investment promotion agency, told Confidencial.com.ni that "... That means that the production that Lala uses to enter the entire into the Central American market will come from Nicaragua. We will have an economic effect beyond what is generated when a company merely comes to sell to the local market, because they're going to buy milk to supply the local market, but also it will be sold in Costa Rica, Panama, Guatemala, El Salvador and this how the impact for our producers will be much higher. "
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