Nicaragua recently announced that it will be hosting an international footwear investment forum titled “Nicaragua, The Right Step”, during June 13th and 14th, where participants will have the unique opportunity to learn why Nicaragua has become an attractive and increasingly competitive footwear production platform.
Approximately 30 participants from Brazil, the U.S., Italy and the Central American region are expected to attend the two-day event that will be held in Managua, Nicaragua. Participants will include representatives from international footwear manufacturers, international footwear brands, industry associations, retailers and industry consultants.
The event, which is the first of its kind, is being organized by PRONicaragua, the official investment promotion agency of Nicaragua. Javier Chamorro Rubiales, Executive Director of PRONicaragua, mentioned that “the country’s footwear sector has quickly become an important industry in the last two years and it is with efforts like these that we seek to continue promoting and developing this innovative sector”.
Some of the topics that will be discussed during the forum include an overview of the international footwear market, industry trends, commercial footwear rules and market access, as well as Nicaragua’s main advantages for investments in this industry, which include a favorable business climate, competitive cost structure, preferential access to international markets, pro-business legal framework and its high levels of personal safety.
The program will also include site visits to international footwear manufacturing companies operating successfully in Nicaragua, during which participants will be able to witness their world-class facilities and learn about their experience investing in the country.
SCA Footwear Nicaragua S.A., through its subsidary in Nicaragua Schmidt Irmaos, a Brazilian women's footwear manufacturing company, began operations in the country in 2010, with plans to invest up to US$25 million and generate 4,000 job opportunities. Additionally, Brazilian shoe manufacturer ANIGER, through its subsidary in the country Tecshoes, S.A., began operations in the country in 2011 with a US$6 million investment and has plans to create a total of 1,200 jobs and produce up to 10,000 pairs of shoes a day.
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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.