PRONicaragua Number One Investment Promotion Agency: World Bank
April 27th, 2012
PRONicaragua stood out with the best results among all investment promotion agencies in the world in the 2012 Global Investment Promotion Benchmarking, recently published by the World Bank, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
Among the 189 institutions evaluated, PRONicaragua was the only institution to achieve a rating of “best practice,” the highest distinction awarded by the study in each of the three evaluations implemented. This edition marks the first time in history that a non-member country of the Organization for Economic Cooperation and Development (OECD) receives such recognition.
Robert Whyte, the World Bank’s Project Manager for the GIPB 2012, mentioned that with FDI levels only slowly recovering post-crisis, it is more important than ever for government agencies to be highly responsive to the needs of potential investors as they search for new investment locations, adding that …
Patent Processing Signals New Opportunities for Central America
March 8th, 2012
Marlett: From Managua to Wall Street.
By Luke Bujarski
Nicaragua might be among the poorest of countries in the western hemisphere, but that hasn’t stopped MDB Capital Group from ramping up an ambitious patents processing operation there. In fact, widespread underemployment is one secret to the success behind PatentVest, the knowledge process outsourcing subsidiary of MDB Capital Group, on the ground in Managua since 2007.
Nicaragua’s Contact Center Industry Needs Better Central Planning
September 14th, 2011By Luke Bujarski
With only 5.5 million inhabitants and the second smallest economy in the western hemisphere, Nicaragua doesn’t stand out as the burning BPO destination turning heads in Latin America. Yet, having spoken with the major contact center players currently operating in Managua, this low-profile destination still shows room to grow, with surprising capability in its workforce and public sector commitments.
Ortega’s Head of Foreign Investment Opens Up about BPO, Venezuela and Getting the Facts Out There
August 22nd, 2011
By Luke Bujarski
In an exclusive behind-closed-doors interview, Nearshore Americas and market research firm Ovum teamed up to speak with Mr. Alvaro Baltodano, politically appointed head of investment promotion for Nicaragua’s Ortega Administration. From labor capacity to investor perceptions, Mr. Baltodano was very well informed and open to talk about the key issues.
StarTek’s Carlson: In the BPO World, It’s Getting Tougher to Find the ‘Right Conditions’
July 22nd, 2011
By Patrick Haller
In the U.S., executives are making decisions about Latin America based on emotions and not fact… in India, customers are now looking for something different… in the Philippines, wage pressures…. in Egypt, “superior” English skills… Western Europe, nearshoring to Eastern Europe….
Registration Opens for Nicaragua’s Premier Investment Forum
July 20th, 2011PRONicaragua recently announced the organization of the premier investment forum titled Nicaragua, Let’s Grow Together!, which will showcase the country’s sustainable growth in various economic sectors and its competitive advantages as an attractive destination for foreign direct investment (FDI).
The event will take place on August 16th and 17th in Managua, Nicaragua, and will focus on specialized sectors such as apparel, footwear, food processing and manufacturing, as well as world-class bilingual business process outsourcing services. Participants will be coming from various countries in Asia, Europe, North, Central and South America.
Some of the topics that will be discussed during this year’s edition include an overview of Nicaragua’s industrial sector, market access, investment incentives, offshoring guidelines, latest industry trends and the country’s most profitable investment opportunities. The program will also include networking activities as well as site visits to successful and leading foreign investment projects operating in the country.
“Nicaragua’s …
Ortega's future depends on economics
By Luke Bujarski
With President Daniel Ortega seeking a controversial third term in the upcoming November election, both the international community and the people of Nicaragua are closely monitoring this country’s economic progress, as a test to Ortega’s effectiveness and legitimacy as a national leader. In this analysis, we revisit Ortega’s presidency and what his political and economic policies could mean for investors in Nicaragua, and for Central America as a whole.
Nicaragua the Unlikely Winner in CAFTA-DR Pact with U.S.
April 11th, 2011Source: Miami Herald / Bellingham Herald
MANAGUA, Nicaragua — The United States free-trade agreement with Central America and the Dominican Republic (CAFTA-DR) celebrated its fifth anniversary this week with American officials hailing the pact’s exemplary success in Nicaragua — the region’s unlikely poster child for economic growth and job creation under the agreement.
For a country governed by a self-declared socialist who often rails against the evils of “savage capitalism,” Nicaragua has benefited from CAFTA more than any other signatory country. And despite the Sandinista Front’s initial attempts to block the trade agreement six years ago, claiming it would be a “death certificate” for farmers and small producers, officials from the now-ruling party now praise CAFTA and claim its successes as their own.
“Since entering into force in 2006, CAFTA has become a key instrument to attracting foreign investment, increasing exports and creating jobs in Nicaragua,” said retired Sandinista military general …
Nicaragua to Grow Faster Than Rest of Latin America, Study Says
March 25th, 2011CAMBRIDGE, Mass. — With a total revenue forecast around $448 million for 2011, Nicaragua ranks last in Latin America. However, the country is expected to grow at a CAGR of 5.8 percent over the next five years, ahead of the 4.9 percent average expected for Latin America, according to a new report from Pyramid Research (www.pyr.com).
Nicaragua: Growing Faster than Latin American Average through 2015 offers a precise profile of the country’s telecommunications, media and technology sectors based on proprietary data from Pyramid’s research in the market. It provides detailed competitive analysis of both the fixed and mobile sectors, tracks the market shares of technologies and services and monitors the introduction and spread of new technologies.
“Not only will Nicaragua grow at a faster rate than Latin America’s average, the growth rate in Nicaragua will be the fastest of all countries in Central America due to …
Sitel Q&A Part 2: As Investors Notice Nicaragua, English Becomes Chief Concern
December 27th, 2010
Invercasa, Sitel's first location in Nicaragua
By Tarun George
Since locating to Nicaragua in 2008, Sitel has aggressively ramped up its delivery centers and employee numbers in the capital city of Managua. In Part two of this special Q&A, Mel Vance, Sitel’s Senior VP for Central America, lays out his plans for a large scale hiring spree in the country starting with the addition of 450 more seats last month. However, high level English proficiency will become an issue in coming years. Read on for more.
