Nicaragua's Free Zone Sector Ready for Value-Added Processes

    WASHINGTON, DC, August 02, 2013 /24-7PressRelease/ -- General Alvaro Baltodano, Nicaragua's Presidential Delegate for Investments, recently stated that the 215 free zones companies currently operating in the country directly employ 103,000 people and 311,000 indirectly. The Presidential Delegate also highlighted that although Nicaragua's textile and apparel continues to dominate the sector, the manufacturing of auto wire harnesses, electronic devices and outsourcing services are gaining popularity each year.

Dean Garcia, Executive Director of the Nicaraguan Association of Textiles (Anitec, for acronym in Spanish), said that companies in this sector pay US$5 million weekly.

The national banking sector is also integrated in the free zones sector, opening branches in industrial parks in order to assist workers and businesses, which last year exported products worth US$2.4 billion.

According to Raul Rivas, Executive Director of the Nicaraguan Chamber of Private Free Zones, call centers are an emerging industry in the free zone market.

There are 25 call centers and its staff provides various services, including customer service, according to PRONicaragua, the official investment promotion agency of Nicaragua. Other services offered by these companies include those related to technical support, telemarketing, loan recovery, business intelligence, software development and financial analysis.

Additionally, Nicaragua's capital, Managua, was added to Tholons' list of Top 100 Outsourcing Destinations, thanks to its improved infrastructure, competitive costs, a skilled bilingual workforce and an attractive geographical location, placing Nicaragua on the map as an up-and-comer in the industry with major players such as Sitel, 24/7 Customer and Stream Global Services.

Companies in this sector are also content with their experience in the country. In less than three years, Draexlmaier, a German auto wire harness company established in Nicaragua and attracted by PRONicaragua, has multiplied its personnel by 30 and is now preparing to double its industrial space.

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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