Nicaragua’s economy continues to thrive

The National Free Zones Commission recently published the figures for the free zones regime employment stating that in 2013 the companies operating under the regime generated approximately 109,310 jobs in the country.
 
MANAGUA, Nicaragua - March 19, 2014 - PRLog -- The National Free Zones Commission (CNZF, for its acronym in Spanish) recently published the figures for the free zones regime employment stating that in 2013 the companies operating under the regime generated approximately 109,310 jobs in the country. According to the Nicaraguan Association of Textiles and Apparel (ANITEC, for its acronym in Spanish), the number of jobs under the free zone represents a weekly injection of more than US$5 million to the national economy in payment of salaries.

Javier Chamorro, Executive Director of PRONicaragua, recently stated that if the relation of jobs created by the free zone regime per every dollar invested in the sector is made, then it would represent the most labor-intensive sector. There are currently 1.5 million square meters of industrial spaces being used by corporations working under the free zone regime. According to the Nicaraguan Federation Chamber of Private Free Zones (FCNZFP, for its acronym in Spanish), only 5 percent of that total is currently not being used.

Additionally, 2013 represented a year of growth in terms of the country’s investment, registering US$1,045 million in terms of foreign direct investment (FDI) inflows to the third quarter of 2013, and showing a 15 percent increase compared to the same period in 2012. A total of US$166 million corresponded to the industrial, agricultural and trade and services sector operate under the free zone regime.

According to the Monthly Index of Economic Activity of the Central Bank of Nicaragua, the national economy grew by 4.6 percent last January. The figure showed a 0.9 percent increase compared to December 2013, and was mainly influenced by activities in the trade and services, manufacturing, agriculture, livestock and construction sectors.
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