Nicaragua Promotes Canal in International Forum

    WASHINGTON, DC, June 30, 2013 /24-7PressRelease/ -- Nicaragua presented at the St. Petersburg International Economic Forum in Russia the construction of the Nicaraguan canal that will be under the management of the Chinese company HKND, established in Hong Kong.

The project was presented by the Nicaraguan delegation participating in the meetings regarding economic development and infrastructure, global trends in the economy and trade.

In early June, the Government of Nicaragua signed with Hong-Kong company Nicaragua Canal Development Investment Co. (HKND, for its acronym in Spanish), a framework agreement and implementation grant to build the mega project, estimated to cost more than US$40 billion and it will include free zones, railway, airport, an oil pipeline and two ports.

The Nicaraguan delegation in St. Petersburg was represented by Alberto Guevara, President of Nicaragua's Central Bank, Manuel Coronel Kautz, head of the Canal Authority, Javier Chamorro, Executive Director of PRONicaragua, the official investment and export promotion agency of Nicaragua, Orlando Castillo, Manager of Nicaragua's International Airport Company and Laureano Ortega, Investment Advisor of PRONicaragua.

Other issues that were discussed include the use of renewable energy, technology development, education, and the role of governments as facilitators and creators of favorable investment climates.

The team also participated in an important plenary meeting where the Russian President, Vladimir Putin and German Chancellor Angela Merkel were speakers.

The St. Petersburg International Economic Forum is an annual international conference dedicated to economic and business issues. Each year, over 5000 political and business leaders, leading scientists, public figures and members of the media from all over the world gather at the St. Petersburg International Economic Forum under the auspices of the President of the Russian Federation to discuss the most pressing issues facing Russia and the world.

PRONicaragua is the Nicaraguan Investment and Export 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://pronicaragua.org.

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