Growth to stall in Nicaragua's Free Trade Zones
Thursday, June 5, 2008
The vice-president of the Association of Textiles and Clothing, Roberto Bequillard, thinks that this year the free trade zones will not grow in terms of attracting new investment. He said this is due to problems with the government of Daniel Ortega.
Bequillard, according to statements published last Sunday by the newspaper La Prensa, said the lack of clear rules and the speeches of President Ortega against the textile sector are the main reasons why growth in these zones is likely to stall.
More on this topic
New Free Trade Zones Announced in Nicaragua
January 2017
Vice president Rosario Murillo gave details on 10 new projects to be executed in the next six months for free zones dedicated to different productive activities.
The 10 projects announced are:
Activity in Colon Free Zone Down 24%
April 2014
The free zone must reduce its high trade dependence on Colombia and Venezuela and seek for new markets for re-exports to improve its performance.
Lack of trade diversification has meant that activity in the Colon Free Zone (CFZ) in the first quarter of 2014 has shrunk by 24% compared to the same period last year.
More and More Free Zones in Nicaragua
February 2013
With a record $2.207 billion in exports last year in 2012, the nation aims to continue growing its free zone regime, both in terms of the number of companies and volume of exports.
Beyond having obtained these successful figures, the aim is to attract more businesses and diversify economic activities. Within these objectives, the installation of the U.S. textile company, Millknit Industries, has already been announced with an initial investment of approximately $25 million.
Panama: Draft on Free Zones Law Approved
December 2010
The project approved by the Executive establishes a comprehensive and simplified special scheme for establishment and operation of free zones.
The initiative, presented by Roberto Henriquez, Minister of Trade and Industry, seeks, among other objectives, to adapt national legislation to requirements of the World Trade Organization (WTO).
Key entities
Roberto Bequillard Asociación de la Industria Texil de Nicaragua
Textile Industry
Textile Industry
free trade zone
free zone
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