Nicaragua Captured $1.3 Billion of Foreign Investment in 2013

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    The Costa Rica News (TCRN) – Nicaragua captured 1.3 billion dollars of foreign direct investment last year, a record figure in this Central American country and 8% more than in 2012.

    The official State Agency for Investment Promotion and Export of Nicaragua (ProNicaragua) precised in a report that the country attracted a total of 1.388 billion dollars in terms of gross foreign investment in 2013, up from 1.28 billion received during 2012.

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    He explained that the figures of net foreign direct investment in the country, which refers to the total revenue minus all outflows and foreign payments, reached 845 million, up 5% compared to 805 million recorded in 2012.

    “These historical figures are the result of the continued efforts of the Reconciliation Government and the National Unity with the support of the private sector to continue to improve the investment climate and the image of our country,” noted CEO of that entity, Javier Chamorro, in a written statement.

    Chamorro said that foreign investors are attracted to Nicaragua for its clear rules, economic stability, public safety, competitive labor costs, ” but mostly because they see a government that is in constant dialogue with the private sector.”

    ProNicaragua also indicated that the gross income of foreign investment over the past year was generated by a total of 324 projects, originating from a total of 39 countries.

    In 2013, the top five sources of foreign direct investment income were the United States (30%), Mexico (15%), Panama (13%), Venezuela (9%) and Spain (7%), which together represent 74% of the total investment in Nicaragua, according to official information.

    Gross inflows of foreign investment were recorded in 12 different economic sectors and the top five were: industry (38%), mining (20%), commerce and services (11%), finance (10%), and telecommunications (10% ).

    The source further pointed out that $240 million of total investments were for companies operating under the free zone regime, an increase of 78% compared to the 135 million in 2012.

    Foreign direct investment in 2013 represented 7.5% of the Gross Domestic Product (GDP) of Nicaragua, well above the average in the Central region which was 5.6%, the source stressed.

    The Costa Rica News (TCRN)

    San Jose, Costa Rica

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