General Alvaro Baltodano, Nicaraguan Presidential Delegate for Investments, and Javier Chamorro Rubiales, Executive Director of PRONicaragua, visited the country from June 27th to July 2nd, and held meetings with important Taiwanese government officials and representatives of the Central American Trade Office (CATO).
The Nicaraguan delegation, which was received by his Excellency William Tapia, Ambassador of Nicaragua in China (Taiwan), participated in different encounters with industrial parks and companies from the technology, agroindustry and textile-apparel industries, to which they presented the competitive advantages Nicaragua offers to companies looking to complement or expand their operations in the Western Hemisphere. Some of the advantages Nicaragua presents as a destination for Taiwanese investments include its vast pool of human resources for labor intensive operations, a strategic location at the heart of the Americas, preferential access to the largest markets, generous fiscal incentives and a highly competitive cost structure.
“The Republic of China (Taiwan) has been an important ally of Nicaragua by supporting different programs conducted by our government. We have been directly notified by the Government that Taiwanese companies are interested in developing important investment projects in our country, taking advantage of Nicaragua’s trade relations with different countries such as the United States, Europe, South America and of course, Asian countries”, commented General Baltodano. As a result of this visit various initiatives will be carried out with the support of CATO, an office created with the objective of promoting multilateral relationships, business cooperation and the development of investments between China (Taiwan) and the Central American countries.
In turn, her Excellency Ingrid Y. W. Hsing, Ambassador of the Republic of China (Taiwan) in Nicaragua, expressed that in spite of the distance, Taiwan is one of the Asian countries that most invests in Nicaragua and reaffirmed in having “confidence that the bilateral trade agreements, investments and technical cooperation between Taiwanese and Nicaraguans will become stronger each day.”
Part of the efforts of the Government of Nicaragua in developing economic relations and promoting investments and trade with the Republic of China (Taiwan), include the signing of a bilateral agreement for the protection of investments in 1992 and the signing of a free trade agreement that came into effect in 2008.
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PRONicaragua is the Nicaraguan Investment Promotion Agency, established in 2002. It is a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The agency provides complimentary support services to qualified investors seeking investment opportunities in our country.