Nicaragua continues to attract foreign investment

Nov. 15, 2011 - PRONicaragua, the official investment promotion agency of Nicaragua, recently stated that the country received two foreign business groups this past electoral weekend interested in investing in the country.

The prospective investment projects included a Peruvian company interested in establishing a food processing plant and a Canadian company interested in building a hotel for leisure travel.

Both projects would represent a total investment of approximately US$40 million and could begin installing operations in 2012, according to Javier Chamorro Rubiales, Executive Director of Nicaragua.

“Investments in the country are increasing and will continue to increase”, added Chamorro. In this context, he mentioned that foreign direct investment (FDI) attracted during the current government's five year period will close with a cumulative US$3,000 million, a 140 percent growth compared to the US$1,250 million that were quantified during the previous administration.

Chamorro also estimates that a total of US$5,000 million in investment will be attracted within the next five years.

“We are talking about a very significant figure for the country. It is clear that we will only be able to achieve this with the commitment of all those involved: the government, private sector, and the workers”, stated Chamorro.

Estimates for FDI indicate the country will be attracting US$1,000 million by the end of 2011, approximately 100 percent increase compared to figures in 2010 and establishing a new record for Nicaragua in terms of investment attraction.

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