Nicaragua Targets Asian Market

    WASHINGTON, DC, July 18, 2010 /24-7PressRelease/ -- Nicaragua remains steadfast in its interest to attract foreign investment from China. Javier Chamorro, the Executive Director of PRONicaragua, Nicaragua's Investment Promotion Agency, recently expressed the country's desire to develop closer ties with Chinese industrial enterprises for the remainder of 2010, in hopes of fostering a long term business relationship.

Chamorro affirmed that a Nicaraguan delegation will be visiting China this coming September in order to promote the benefits the country offers in terms of tourism and trade, while the main purpose of the visit will be to attract hefty investments from China to Nicaragua.

Moreover, Nicaragua recognizes China's potential as a major investor, with ample economic resources available to be allocated in diverse international markets. In order to attract a percentage of those resources, Chamorro considers it necessary to have Chinese investors visit Nicaragua to assess infrastructure and energy projects in the country. China is very interested in expanding relations with Latin America due to the region's growing appeal as an investment destination and export platform.

Government officials and private sector representatives from China have actively approached Nicaragua, interested in exploring business and investment opportunities. This year Nicaragua was invited to the First Latin American Summit in China, where government and private sector representatives from each country in Latin America will be able to discuss ways to strengthen business ties with China.

Chamorro stated, "there is an aggressive policy on their behalf; we now have a clear course of action to take advantage of some of the opportunities that China offers, which works in our favor."

In recent years, predominant Asian investments in Nicaragua have come from Taiwan, India, and Korea, and focused mostly in the Free Zone regime. Additionally, foreign trade between China and Nicaragua has increased 73.3% from January to July 2010, amounting to US$2.6 million, compared to US$1.5 million during the same period in 2009.

Nicaragua is also participating in the 2010 Expo Shangai, one of the largest international fairs in the world. Nicaragua seeks to project a positive country image and promote social, economic and cultural relations with China through its participation in this fair. According to the organizers, nearly 70 million visitors are expected to attend this major event.

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. For further information, please contact us at (505) 2270-6400 or http://www.pronicaragua.org.

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