Oct. 12, 2012
-- PRONicaragua, the official investment promotion agency of Nicaragua, recently stated that foreign direct investment (FDI) reached US$289 million during the first quarter of 2012, representing a 76 percent increase when compared to the same period of 2011.
This investment was mainly driven by the financial, commerce and services, industry and energy and telecommunications sectors, which altogether represented 85 percent of total FDI attracted during this period.
The main countries that invested in the country include the U.S., Panama, Mexico, Guatemala and Canada, which in turn accounted for 84 percent of total FDI.
Additionally, a publication by the Latin Business Chronicle stated that Nicaragua was the country with the highest index of FDI as percentage of its GDP in Latin America in 2011, with a total of 13.3 percent, followed distantly by Panama with 9.1 percent and Chile with 7.0 percent.
Javier Chamorro Rubiales, Executive Director of PRONicaragua, stated that “it will be a positive year for the country in terms of investment and as it will continue to be one of the most dynamic economies in Latin America and the Caribbean in this sense”.
Projections demonstrate the country will close 2012 with approximately US$1,000 million in terms of FDI.
In 2011, Nicaragua had a record performance attracting a total of US$968 million in FDI, increasing by 90.5 percent when compared to the US$508 million reached in 2010. The FDI attracted in 2011 was led mainly by the energy, telecommunications and free zones sectors, which together accounted for 52 percent of total FDI.