Nicaragua and the People’s Republic of China ready to develop telecommunications project

Aug. 24, 2011 - PRLog -- Nicaragua recently received a high-level delegation from the People's Republic of China, led by Mr. Li Zhuyuan, President of Datang Mobile, one of the largest state companies in the world in the telecommunications sector, with the objective of evaluating socio-economic development projects in Nicaragua and considering the country as a possible destination for its global expansion strategy.

The delegation was received by the President of Nicaragua, Daniel Ortega Saavedra; the Executive Director of the Nicaraguan Institute of Telecommunications and Post (Telcor, for its acronym in Spanish), Orlando Castillo; and the Presidential Delegate for Investment, General Álvaro Baltodano.

During their visit, Datang Mobile and TELCOR signed a Memorandum of Understanding, which proposes a cooperation program to develop a high technology telecommunications network.

The President of Nicaragua highlighted the economic development of the People’s Republic of China and the need to strengthen trade and financial relations in all fields possible with the Latin American and Caribbean countries.

“Developing a relationship with the telecommunications company of the People’s Republic of China will benefit the Nicaraguan people, the country’s economy, trade, and its culture”, commented President Ortega.

In 2010, several Chinese leaders visited Managua in order to present a wide variety of projects in agricultural technology, medical equipment, appliances, automobiles, motorcycles and construction materials. On this occasion, the Vice-President of the Chinese Council for the Promotion of International Trade, Mr. Wang Jingzhen, stressed the importance of promoting economic exchange.

As part of these growing ties of cooperation between both countries, Nicaragua opened an office in Beijing last May, in order to promote business opportunities and foster the development of economic relations between the two countries. The office is administered by the Nicaraguan Business Council for Economic and Trade Development with China (CEFECH, for its acronym in Spanish), with support from various institutions such as the Nicaraguan Chamber of Commerce (CACONIC, for its acronym in Spanish) and PRONicaragua, the official investment promotion agency.

Datang Mobile is a core subsidiary of the Datang Telecom Technology and Industry Group, a large high-tech group of companies under the auspices of the State-owned Assets Supervision and Administration Commission of the State Council. Datang Mobile is actively engaged in the development of the associated core technologies and in the promotion of commercial applications.

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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.