News By Tag
* More Industries...
News By Location
Nicaragua Sparks Interest in Japanese Investors
PRONicaragua, the official investment and export promotion agency of the Government of Nicaragua, met with 10 Japanese companies operating in Central America and who have expressed interest in investing and expanding in Nicaragua.
During the meeting, PRONicaragua executives made a presentation about Nicaragua´s competitive advantages including costs, productivity, legal framework and incentives for investment.
According to the General Alvaro Baltodano, Presidential Delegate for Investment Promotion and Trade Facilitation of Nicaragua, the Japanese showed interest in the electrical, light manufacturing, medical laboratories and agribusiness sectors.
It’s important to highlight that world-renowned companies Mitsubishi and Sumitomo were among the companies who visited the country.
“We are the fastest growing country in Central America when it comes to investments, and the fastest growing country in Latin America in FDI and exports when compared to GDP, this demonstrates the importance the Government of Nicaragua gives to indicators that investors take into consideration when investing” commented General Baltodano.
Masashi Yamashita, President of Yazaki, a Japanese company established in Nicaragua that manufactures auto wire harnesses, expressed that the reasons they decided to invest in Nicaragua 10 years ago was due to the competitive cost structure, high-quality labor force, security and the stability that the country offers.
"Our forecast for the coming years, based on the high competitiveness of the country, is to continue expanding and broadening our business in this country," said the Japanese businessman.
Yazaki Nicaragua, with nearly 9,400 employees, constitutes the country´s largest employer. Additionally, the company exported approximately US$390 million in auto wire harnesses in 2011, which represents nearly 20 percent of free zones exports and 10 percent of the country´s total exports.