One of the decisions taken by Guatemalan businessmen with interests in Nicaragua is to suspend new investments until the situation in the country is normalized.
Due to the social and political situation that the country has been experiencing for more than three months, Guatemalan investors that operate companies in Nicaragua have been analyzing the situation closely, and are already taking measures to minimize the impact of the crisis on businesses. One of the decisions that some companies have taken is to reduce the cost of the operation to the lowest possible level, in order to maintain or reduce product inventories.
A swiss company plans to invest $20 million over the next two years in the production of passion fruit and guava in Nicaragua, and among the planned investments is construction of a processing plant.
The 2017-2018 Guide by the Nicaraguan - German chamber of commerce provides details on tax exemption regimes by sector, requirements for foreign investors and other data.
A group of entrepreneurs from Canada will be visiting the country to explore business opportunities in different areas and present an investment plan for renewable energy.
The Ortega administration explained that the businessmen will meet with their counterparts from the local tourism sector and the Nicaraguan Tourism Institute.
Lack of irrigation on most of the country's arable land is preventing farmers from accessing bank financing to increase the productivity of their crops.
Regarding the financing that is currently granted, Luis Rivas Anduray, CEO and director of Banpro Grupo Promerica, explained to Elnuevodiario.com.ni that "...Banks finance only 10% of the country's arable areas. This 10% are the products that generate the most foreign currency for Nicaragua, such as coffee, sugarcane, etc., but there is another 90% of the area that can be financed, in which banks do not get involved, due to the credit risk that this constitutes. Therefore, when you have irrigation, the risk is substantially reduced."
Using funds from the government of South Korea, the plan is to implement the second phase of the energy program with solar panels in communities in the Caribbean area.
Elnuevodiario.com.ni reports that "...The Korean Embassy in Managua has confirmed a new investment of US $23 millionto support the second phase of the solar energy generation program, which aims to benefit some 17,000 families and 380 schools with the installation of solar panels in isolated communities in the Caribbean in Nicaragua."
With 19% endemic poverty, 10% open unemployment and 40% informal employment, and some of the highest electricity rates in the region, Costa Rica is opposed to $1 billion in clean energy investments.
EDITORIAL
By Jorge Cobas González
Meanwhile, the bureaucracy of state-owned companies continues to prescribe first-world remuneration, and continues to protect its privileges following ECLAC development concepts from the middle of the last century, which are utterly out of place today.Because Costa Rica does not have the investment capacity or know-how necessary for the development of latest generation renewable energy projects, even though it has all of the necessary primary conditions: sun, wind, thermal energy.
British American Tobacco has announced that it will be investing $4.5 million in the construction of offices and a distribution center measuring 17 thousand square meters, which will start operating in June 2018.
It has been estimated that $200 million need to be invested in Central American countries to strengthen the transmission capacity of the regional electricity market.
A study prepared at the request of the Wholesale Market Manager of Guatemala (AMM) details that for the regional market to operate in a comprehensive way, countries must invest more in order to improve transmission capacity.According to Edgar Navarro, president of the AMM, this investment should be concentrated in Nicaragua, Honduras, El Salvador and Costa Rica.
New stores, remodeling and a distribution center are what Walmart plans to develop in the next two years in the country, with an estimated investment of $200 million.
The procedures required for making investments of over $500,000 outside of Managua can now be made through a single window that includes all entities.
The Superior Council of Private Enterprise (COSEP) has announced that the window is already operating in Managua, and will allow companies to make investments in the departments in the interior of the country, centralizing all of their paperwork in one place, without having to manage multiple processes in different institutions.
In the next five years the government expects to attract new private investment to add to the 1300 MW of renewable energy projects in the energy matrix.
Currently, 80% of power generation plants operating in the country are privately owned, and the Ortega administration has announced that it will continue to offer attractive terms to encourage the arrival of new private investment into the energy sector.The 2017-2030 plan envisages the incorporation of 1300 MW into the energy matrix,"... '(projects) that are open to all national and foreign investors who are participating.'"
22 thousand hectares are devoted to growing palm in the country, and investments of $150 million are planned for maintenance of existing plantations and new ones in the coming years.
The 22 thousand hectares of African palm currently produce 70 thousand tons of crude oil which are destined for local consumption and export. In 2016 the revenue generated from sales abroad totaled $33 million, 13% more than 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 private sector proposal includes building a new port in the Caribbean and improving existing ones, reviewing electricity tariffs, and creating a special tourist area in San Juan del Sur and Tola.
The private union has submitted a proposal for development in 2020 that focuses on five areas: financing; infrastructure and services; public management and facilitation; education system and human capital; and innovation in business management.
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