For nearly any product you can think of, there is a market in Nicaragua. Today, as thousands of Nicaraguans who fled the Sandinistas during the revolution return to their native country, they bring with them sophisticated tastes and an appetite for the kinds of goods and services they grew accustomed to while in exile in the United States and in Canada. Their return has proved to be an incredibly stabilizing force in this country–both economically and politically. After all, these were the attorneys, the doctors, the better educated in the society who fled.
And now they understand how a free-market economy works. They understand democracy. They speak English. And, perhaps most critically, they form a true middle class with expendable income to buy the goods and services to which they’d become accustomed in North America. That spells opportunity for you.
Nicaragua has one of the fastest real GDP growth rates in Central America. The country has complied (unlike many other nations) with prescribed IMF demands for cutting its deficit, implementing structural reforms, and maintaining overall monetary stability.
Nicaragua is set to benefit from rapid and sustained economic growth in the years to come, growth it has encouraged with the passage of several laws specifically designed to attract and protect foreign investors. According to the Economic and Commercial Section at the U.S. Embassy in Nicaragua, “The in-flow of foreign direct investment has almost doubled [for the most recently-available figures]–from US$97 million in 1996 to US$184 in 1998.” About one-third of that investment comes from the United States…investment primarily in agriculture, construction, services, industry, mining, energy, tourism, and aquaculture.
Investing in Nicaragua Involves Very Few Restrictions
In the last decade, Nicaragua has privatized nearly all its old state-owned monopolies, save for the public utilities, and has thus dramatically reduced the amount of government red tape investors have to contend with when they do business here. In addition, it has opened up all sorts of new markets.
A foreign investment law ensures you can repatriate 100% of your profits and, after three years, the initial investment as well. (Even if you don’t “register” your investment, banks will freely repatriate profits.)
You’ll find no legal grounds for discrimination against you when you invest. The law allows for 100% foreign ownership in every economic sector. And there are no restrictive visa or work permit requirements to inhibit investment.
Please read the full article here…
5 Great Resorts in Central America
#1. Mukul Resort – Nicaragua
#3. Chaa Creek – Belize
#4. Blancaneaux Lodge – Belize
#5. Nekupe – Nicaragua
China puts Nicaraguan Canal plan on hold
Stephen Gibbs, Lucinda Elliott, Caracas
June 19 2017, 12:01am, The Times
The new canal’s proposed route would end at the Brito inlet to the Pacific
BRITTANY PETERSON/TNS VIA GETTY IMAGES
It was billed as the biggest earth-moving operation in history: the creation of a 170-mile canal across Nicaragua, linking the Caribbean Sea and the Pacific Ocean.
The Grand Interoceanic Canal (commonly known as the Nicaraguan Canal) would have been more than twice the length of the Panama Canal, and wide enough for the new generation of 400,000 tonne container ships.
Now, it appears that the £40 billion project is on hold amid rumors that it has been shelved because of China’s improved relations with Panama.
Construction had been due to start this year, but residents along the planned route have reported no signs of any activity. ProNicaragua, the Nicaraguan government’s investment agency, made no mention of the project in its 2017-2021 plan, and President Daniel Ortega, once an enthusiastic proponent of the scheme, has made no statement on it for months.
The proposed canal construction was approved by the Nicaraguan assembly in June 2013. A company owned by Wang Jing, a Chinese telecoms tycoon, was given an extendable 50-year concession to finance and manage the project. The government in Managua said that the canal would transform the economy and provide an efficient link between China and the Americas.
“Since the project was approved, not a single part has been built,” said Carlos Fernando Chamorro, editor of Confidencial. “Not a single piece of land has been expropriated on the canal route.”
One possible reason for the plan being abandoned is that Mr. Wang is understood to have lost a fortune in the June 2015 Chinese stock market crash. Another is that he is acting on behalf of the Chinese government — although he has denied this.
Earlier this month, China and Panama announced new diplomatic relations and that Panama would sever all ties with Taiwan. Supporting a rival to the Panama canal would seem counter-productive. China is its second biggest customer after the United States.
Environmentalists will be relieved. The new canal’s proposed route was through Lake Nicaragua, the biggest freshwater reserve in Central America. It was feared an artificial link between the lake and the sea would pollute water and fisheries for millions.
By Lucy Valenti, General Director of Nicaragua Tourism and Investment
There are some short-sighted minds that question the construction of the coastal road on the grounds that it will only benefit a few. Many people do not imagine the economic and social benefits that will be generated by the construction of this highway. It has a highly productive potential since it will connect industrial, commercial, tourist and agricultural areas in the nation.
Infrastructure investments of this kind provide fast, safe and profitable returns and promote the economic development of the areas. No society can develop without an efficient road infrastructure in place.
The construction of the Pacífic coastal road confirms a strategic decision to make tourism development a national priority. We have always maintained that this road is vital in promoting tourism investments in an area of the country that has all of the resources to become one of the best sun and beach destinations in the world, especially in the South Pacific region.
This area is currently among the top ten destinations in the world for retirees and is also ranked by the experts amongst the top ten surf destinations in the world!
The first stage of the coastal road lies between San Juan del Sur and Tola. This means more investments and a larger supply of high standard tourism products and services that will raise average tourist spending, provide more jobs and opportunities for Nicaraguans and help lower migration. In addition, it will also bring more tax revenues and money to be reinvested in social programs and education.
In conclusion, the coastal road is strategic for the development of tourism in the coastal areas of the country and deserves the support of all Nicaraguans who want to see our country advance along the path of economic growth and sustainable development.
Managua, Nicaragua; May 08, 2017
Giant retailer Walmart’s Mexico and Central America division is strengthening its footprint in Nicaragua as it just announced new sizable investments worth US$125 million to be executed in the country over the next two years.
During a meeting with a delegation of Banco LAFISE Nicaragua, President Daniel Ortega said that the company will bring new investments oriented to commercial and productive activity, in addition to what has been invested over the last five years – over US$200 million.
According to information issued by the company, Walmart plans to invest around US$20 million in 2017 in Nicaragua. Likewise, by 2018 they expect to invest another US$105 million, distributed among new store openings, refurbishments and the construction of a distribution center. Of the total amount to be invested in 2017, US$52 million will be allocated to the construction of a new distribution center while US$17 million will be invested in a new Walmart Supercenter store.
Walmart Centroamérica expects to grow at a rate of 10 percent in 2017 in Central America.