Published on January 25th, 2011
The Government of Nicaragua and the Superior Council of the Private Enterprise (COSEP, for its acronym in Spanish) met recently to discuss a series of key economic issues and establish a joint work plan for 2011 aimed at boosting economic development, job creation and poverty reduction in the country.
The session was presided over by President Daniel Ortega, who was accompanied by members of his Economic Cabinet, and Mr. José Adán Aguerri, President of COSEP, along with other important representatives of Nicaragua’s private sector, including foreign investors established in the country.
During the meeting, various economic issues were discussed and proposals were formulated regarding productivity, wage and labor, trade, agricultural and industrial policies, energy and tourism, among others topics. Other important and critical issues that were addressed during the meeting included the need to ensure the country’s macroeconomic stability and safety levels in order to foster an attractive investment climate.
Expectations of this meeting are that the country will be able to achieve similar results in 2011 to those achieved in 2010, when exports nearly reached an unprecedented US$2,000 million, tourism revenues and arrivals also set new records, foreign direct investment experienced a growth of nearly 15 percent and real GDP growth surpassed the International Monetary Fund’s estimates by reaching over 3 percent.
"We are encouraged by how well we’ve been moving forward. Despite the enormous complexities of the international economic crisis, we have achieved these goals and the prospects for this year are good, I am sure we will have the ability to continue to achieve or even exceed our goals” commented President Ortega.
The meeting between the Government of Nicaragua and the private sector demonstrates the commitment from both parts to contribute to Nicaragua’s economic development by forming initiatives that will help improve the business climate.
Part of the agreements reached during the meeting include the creation of several public-private commissions that will work on issues such as identifying financing options for key investment projects and the facilitation of business procedures and foreign trade.
For more information on Nicaragua and the investment opportunities the country offers, contact us at: