March 2008
Issue: 2008 - 2
Nica - Newsletter
Greetings from Nicaragua,
We are well into the new year and as we expected, the business community continues to hum along here. Foreign investment dollars continue to flow into the country. Although the flow from the US has slowed down considerably, investments from other nations in the region, Europe and Asia continue to be strong and new ventures are springing up around the country.
As you'll see from the articles below, Nicaragua is receiving great tourism press, no surprise to anyone living or visiting here. The economy is strong, but inflation largely due to rising oil prices is pushing up a bit causing the costs of construction to edge upwards. International development money is making a huge difference in the highway infrastructure around the country and other aid projects are making strides at reducing poverty and providing needed educational and health services in sustainable ways.
At Gran Pacifica, we've added a couple headliners to the corporate ranks. Pittsburgh Steeler and Hall-of-Famer Franco Harris joins the company in a marketing capacity and enjoyed a great visit to the Annual Shareholders Meeting in January. Additionally, Ambassador John Maisto joins our Board of Directors and will provide valuable insights and guidance for the company. Both of the additions are detailed below.
Gran Pacifica also continues to move forward with home construction with 5 starts in the month of February. The Las Perlas Condominiums are receiving weekend visitors on a regular basis now that the units are available for rentals. The Milagro del Mar condo project is under construction with over half of the units sold at this point. Completion is anticipated in July 2009. If you'd like to visit or stay with us for a few days, please e-mail concierge@granpacifica.com and we'd be happy to have you.
We hope that you'll enjoy the good news and articles pasted below. If you'd like to receive a copy of our Nicaragua Handbook, please e-mail your physical address to nicahandbook@granpacifica.com and we'll send one out to you. In addition, I'll be speaking at an upcoming real estate conference early June in Cancun and if you'd like more information about it, you can visit the link below.
http://www.greventures.com?auth=1dfd239b1fecd8e805b41c513a99013d
As always, thank you for your continued interest in Nicaragua. Until the next report, all the best,
Mike
Cobb
Chief Executive Officer
Gran Pacifica
www.granpacifica.com
Table of Contents
Tourism
Nicaragua 'catches the eye' of investors
Nicaragua is set to emerge as a property investment hotspot, reports suggest.
According to Homesgofast.com, a number of publications including the Financial Times have singled out the country as "the next great destination" in Central America.
The website added that attractive beachfront properties available at "amazing prices" and eco-friendly developments like Balcones de Majagual boost the country's appeal.
Situated on the Pacific coast, Balcones de Majagual features a selection of environmentally-friendly homes available both for sale and for rent.
Homesgofast.com also pointed out that the fact the property market in Costa Rica has now "matured" means Nicaragua has started to catch the eye of international property investors looking for new, emerging markets - something which should boost the value of real estate in the country.
Among other attractions on offer in Nicaragua are jungle tours and horseback rides through the country's indigenous forests, as well as more traditional beach-related activities.
This article was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website
Gran Pacifica Grows in the Coast
Nicaragua Tourism Project will have two condo buildings, a hotel and a golf course.
Fidelina Suárez Moreno
www.capitalfinanciero.com
Pacifica Beach & Resort Nicaragua Project will invest around $ 100 millions in the next five years in the construction of a tourism citadel in the Pacific coast, including a hotel, condos, houses, restaurants, shops and a golf course.
By mid January, 150 project promoters, among Americans, Canadians and Europeans businessmen, presented the Milagro del Mar Complex, which is the second phase of the construction of luxurious Gran Pacifica condos.
Infrastructure started in 2004 and has all the benefits granted in Tourism Incentive Law, thus being exempted of income tax and added value tax during the first years of operations
It is located in Villa El Carmen, department of Managua, about 27 miles from the Capital city.
Tourism Development
Gran Pacifica first phase which is Las Perlas condo-hotel is now concluded. It has 40 unities and some apartments already sold starting from $180.000 and up.
Milagro del Mar will be more luxurious than Las Perlas development and the condo prices start in $400.000. Apartments in both constructions have ocean view and are offered mainly to foreign retired people. The new project will have pools, water falls, gyms and a shopping plaza. In addition to condos, individual house plots are also considered, and can be built by Gran Pacifica development company itself or whatever the client choose, as long as they respect the colonial architectural style of the complex.
Roger Keeling, partner of the Project, explained that they invested around $3.3 millions in Las Perlas and the rest of the investments they look forward to reach $100 millions by the end of 2012.
Up to now they have hired about 300 people from Villa El Carmen for work maintenance.
Golf Course
The Golf Course was designed by Tommy Haugen, in charge of projects in the United States such as Stonebrooke Golf Club y Pine Island, according to Adiak Barahona, Gran Pacifica Manager.
It will be 18 holes green but will be expanded to 45 to make it the first international events Golf Course in Central America. It will be located in an old livestock faro in front of the Pacific Ocean.
Among the partners of the tourism complex is former American Ambassador to Nicaragua John Maisto.
Gran Pacifica Resort, the development company, signed a corporate social responsibility agreement with the Nicaraguan Institute of Tourism, committing to invest $300.000 in the next three years in the community.
Oasis International Fishing Tournament
www.nicaliving.com
The third annual Oasis International Fishing Tournament is set to take place from 6 to 8 March 2008 in Bluefields situated at the mouth of the Escondido River in the Autonomous Region of the Southern Atlantic (RAAS), Nicaragua. With a beautiful setting and abundant fish, the Oasis International Fishing Tournament is becoming increasingly popular.
The tournament focuses primarily on snook and tarpon; however there is also an open category, as well as a “fun fish” category. Past “fun fish” catches have included some unusual and even bizarre species. The tournament is sponsored by the Oasis Hotel and Casino and it is anticipated that previous sponsors – Suzuki, Victoria beer and Coca Cola – will once more join in the fun and excitement of the Oasis International Fishing Tournament.
The tournament kicks off on Thursday 6 March 2008 with a Captain’s Meeting followed by a festive get-together. Registered participants will be treated to a complete seafood dinner complete with drinks and live music performed by local Bluefields band, Caribbean Taste. After dinner the Old Bank award winning dance group will entertain the crowd in front of the Oasis Hotel.
Friday’s fishing starts at sun-up and continues until sunset. Participants are not obliged to return to base for weigh-in, although the scales will be available from 3:00 pm until sunset for those who want to make use of them. Saturday is the final fishing day, and due to the moon phases being perfect for tarpon fishing, judges expect to see some really big fish. Weigh-in starts at 2:00 pm and closes at 6:00 pm with no exceptions made for late comers.
The 2008 Oasis International Fishing Tournament will have a marine biologist as well as a representative from INPESCA examining fish as they are weighed. This is to ensure that anyone cheating with frozen, penned or netted fish (as has happened in previous years) will be disqualified immediately.
Prior to weigh-in on Saturday, the townsfolk will be putting on a sailboat race to entertain the spectators waiting at the pier. There will also be a Kayuko (panga sailboat) regatta between the Bluefields Municipal Pier and the Bluff. The sponsors of the tournament will award cash prizes and trophies to the winners.
The Oasis International Fishing Tournament trophies will be presented to the winners at a special awards brunch on Sunday which ends early enough to allow all the fishermen to make their way home before sunset. The entire takings from entry fees will be donated to the Bluefields Red Cross which is always quick to respond to the needs of the Nicaraguan people in times of distress.
Fishing enthusiasts who enter the Oasis International Fishing Tournament are not only assured of three days packed with fun and excitement, but they will also have the satisfaction of knowing that they are supporting a very worthy cause that benefits the people of Nicaragua.
Nicaragua Will Connect Costa Rica and Honduras Through Coastal Highway
Intur is announcing the coastal highway with support of Venezuela
Intur Press Release
A major impact project on the economy of Nicaragua is the construction of "Coastal Highway Project," said Minister President of the Nicaraguan Institute of Tourism (INTUR), Architect Mario Salinas Pasos.
Architect Salinas said that the Government of National Unity and Reconciliation is going to build a road that runs along the Pacific Coast until Masachapa, which will join the paved road to the old road to Leon and Chinandega where it will connect with the Port of Potosi. With this road project, Nicaragua is virtually connecting Costa Rica and Honduras from the Pacific. The Coastal Highways will be around 80 miles long and cost will exceed $ 120 million.
This Project was also designed by previous governments under unrealistic criteria as they contemplated high costs and thus the project was never accomplished.
In order to allow users to enjoy from the Coastal Highway scenery, the Government of National Unity and Reconciliation reviewed all designs of the road and set new parameters with the intention that it follows existing roads, that it becomes a tourist route and is not used as a road for high speeds
The social-economic project, said Minister President of INTUR, Architect Mario Salinas Pasos, will be built thanks to the solidarity of the Bolivarian Republic of Venezuela, in addition to contributions from some national and foreign private sectors who are doing development projects at a cost exceeding 700 million dollars
Architect Mario Salinas Pasos said that there is an investment of 750 million dollars for the next 5 years on the shores of the Pacific, among which highlights the project "El Guacalito" from the Pellas Group, that will develop an investment of 350 million dollars in the coming years.
Europe too expensive? Consider Central America
by Christine Sarkis, SmarterTravel.com Staff –
Does the prospect of the strong euro and increasingly expensive Europe airfare have you thinking about other destinations? Maybe it's time to consider Central America. Decades removed from the civil strife of the 1980s, Central America is safer than it used to be, and tourism is on the rise. Travel is more affordable in the region, flights from the U.S. usually aren't too long, and you won't have to contend with a major time difference.
Plus, there's so much to do! Soak in hot pools in the shadow of a volcano in Costa Rica, dive the world's second longest barrier reef in Belize, and see the sunrise over ancient Maya ruins in Guatemala. Surf in El Salvador, explore colonial towns in Nicaragua, or go rare-bird watching in Panama.
U.S. airlines are making it easier than ever to visit Central America. In the last year, ultra-low-cost carrier Spirit has started service to San Pedro Sula, Honduras, and Panama City, Panama, from Ft. Lauderdale. American Airlines will launch a new route from Dallas to San Salvador in El Salvador. And Denver-based low-cost carrier Frontier has new flights between Denver and San Jose, Costa Rica, five times a week.
There are ways to visit that suit most comfort levels and budgets. Independent travelers can build an itinerary within any price range, while people who want a helping hand can find tours catering to interests such as archaeology or adventure.
Have a great travel tip you'd like to share? Send your insider travel strategies to editor@smartertravel.com.
Nicaragua Pledges Drug Cooperation
Tuesday, February 05, 2008
Fox News. Managua, Nicaragua
Nicaraguan President Daniel Ortega is ready to work more closely with Washington on anti-narcotics initiatives, he told a visiting group of DEA and State Department officials Monday.
"We are seriously committed to the fight on drug trafficking because the poorer the country, the more easily it can fall apart," Ortega said at a meeting with DEA chief of operations Michael Braun, DEA regional director David Gaddis and Christy McCampbell, deputy assistant secretary of state for counter narcotics.
"Our goal is to turn a new page on our relationship with the U.S. and its institutions and agencies to strengthen this fight," Ortega added.
The U.S. officials were in Nicaragua for two days beginning Monday to evaluate the Central American nation's anti-narcotics effort, according to a U.S. Embassy statement.
The statement praised Nicaragua's National Police for anti-drug gains in 2007 and said the U.S. hopes to continue cooperating in training and equipment programs.
During Ortega's first run as president in the 1980s, the U.S. suspended all aid to the former Marxist and backed the Contra rebels trying to overthrow him.
Re-elected in 2006, Ortega has sought a more cordial relationship, promising to protect private property and foreign investment _ although he is still at times outspoken in his criticism of Washington and has deepened ties with U.S. rivals such as Venezuelan President Hugo Chavez.
In comments broadcast on Nicaraguan radio, he underscored the importance of social programs in parts of the country plagued by drug crime.
Business and Economy
Franco Harris Joins Team of Pittsburghers Creating Resort and Retirement Communities in Central America
Retired Football Star Attracted to ECI Development's Humanitarian Outreach; Will Lead Chartered Trip to Nicaragua in January
PITTSBURGH, PA – 6 Dec. 2007 – Pittsburgh Steelers Hall of Famer Franco Harris has joined a new team – ECI Development Ltd. – founded by Pittsburghers who are building socially responsible resort and retirement communities in Central America with properties in Belize, Nicaragua and Costa Rica.
Harris, 57, is the owner and operator of Super Bakery Inc. of Pittsburgh, a world leader in healthy bakery products, as well as a social activist and philanthropist.
ECI Development's Gran Pacifica Resort in Nicaragua is launching a second wave of construction of beachfront residential, condominium and hotel units targeting the North American baby boom generation that's soon to retire and seek a go-to destination.
Harris's first “play” will be to host the ECI Development staff and retirement-minded individuals on a chartered trip to Managua, Nicaragua, from Jan. 10-13, 2008. “I'm anxious to see the changes in Nicaragua and experience the volcanoes, rain forests, and ocean,” said Harris. The tour will include a visit to the spectacular oceanfront beach property, tours of rain forests and volcanoes, and trips to 16th century Spanish colonial towns for shopping. Added Harris, “I'm happy to welcome and host ECI while in Nicaragua. While there, I want to learn about the culture and, best of all, during this visit we will be starting a mini-library for a local school– building it, painting it, and donating books for the shelves.”
Harris was attracted to ECI Development in part due to its socially-conscious mindset and humanitarian focus. ECI is investing in the future of Nicaragua's people by creating significant jobs in the construction, operations and supply-chain management industries throughout the resort. Gran Pacifica provides health and education benefits to the neighboring communities of Villa El Carmen , including supplies and funding for 6,000 students and 60 teachers in 12 schools in a joint-partnership with local government officials. ECI's management team has worked in Nicaraguan humanitarian circles since 1992, and has helped to create two Roberto Clemente Health Clinics in rural Nicaragua which reach thousands of under-served citizens.
Nicaragua has shaken away the ghosts of a civil war that ended in 1989, and is quickly becoming one of today's "go-to" destinations because it is easily accessible, attractive and inexpensive, meaning it's the right time for real estate development.
About the Pittsburgh Team – ECI Development co-founders Michael K. Cobb of Slippery Rock (chairman/CEO) and Joel M. Nagel of Sewickley (CFO/general counsel) met as roommates at Allegheny College in 1986. Cobb and his wife and two young daughters have been residing full time in Managua since 2002. Cobb is building strategic relationships with joint venture partners who are already rolling out a golf course and three condominium projects in Nicaragua, and is targeting future partners to include hotels, marina, spas, and other amenity and residential offerings.
Nagel, a Fulbright Scholar, Pittsburgh Business Times “Fast Tracker” and former Governor of Rotary District 7300 in Western Pennsylvania, has worked in Nicaraguan humanitarian circles for 15 years. He helped solicit donations and land to construct two Roberto Clemente Health Clinics in rural Nicaragua to serve thousands of underprivileged citizens in memory of the Pittsburgh Pirates superstar.
In the past few months, two other high level VIPs have joined the ECI Development team – former United States Ambassador John F. Maisto and construction industry veteran Martin Roberts.
Maisto is a past White House adviser for the Western Hemisphere, and who led U.S. diplomacy at the Organization of American States and the Summit of the Americas. Maisto served as ambassador to Nicaragua in the mid-1990s, and was in charge of $900 million in U.S. government aid programs, including obtaining $100 million in new economic development initiatives, benefiting hundreds of thousands of Nicaraguan citizens. He gives ECI Development a seasoned diplomatic veteran with decades of Central American experience.
Roberts has 35-plus years of management experience in residential and commercial construction and is leading day to day operations, construction and marketing of ECI's major land assets in Costa Rica, Belize and Nicaragua. Roberts previously was President/CEO of The Westchester Group, Inc., a custom home building company in Tampa, Florida for 18 years.
For more information, visit ECI Development's website at www.ecidevelopment.com .
Commerce Sub Secretary Padilla to Review CAFTA-DR Implementation and Expanded Trade Opportunities During Visits to Honduras, Nicaragua and Costa Rica
U.S. Under Secretary of Commerce for International Trade Christopher A. Padilla will travel to Honduras, Nicaragua and Costa Rica today begins a 5-day trip to review implementation of the United States-Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) and discuss continuing efforts to strengthen trade and investment ties with and throughout the region. Padilla will meet with senior government officials and private sector representatives, as well as visit companies that are benefiting from the agreement.
“Since implementation in 2006, CAFTA-DR has supported jobs and boosted exports in both the United States and Central America,” said Padilla. “Within one year of CAFTA-DR coming into force, the United States went from a trade deficit to a trade surplus with our CAFTA-DR partners. Moreover, the agreement has been critical to strengthening good governance, rule of law, and transparency in the region.”
During meetings with Honduran, Nicaraguan, and Costa Rican government officials, Padilla plans to stress the need to build on the successes of CAFTA-DR, as well as tackle the related challenges. Padilla also intends to tour companies that are benefiting from U.S. exports to the region and visit U.S. companies that are helping to improve the lives of people across the region through investment, job creation, and social welfare projects.
“CAFTA-DR is an example of how free trade agreements can boost U.S. exports and also improve the quality of life for our partners in the Western Hemisphere,” said Padilla. “Last week I visited companies in the United States, large and small, that have seen their exports to Central America grow since the implementation of CAFTA-DR. On this trip, I will see how those exports are being used in Central America. The remarkable success of CAFTA shows why the Congress should act on the U.S.-Colombia Trade Promotion Agreement. Just as CAFTA has worked for America, free trade with Colombia would boost exports, promote investment, and support democracy in one of our closest allies in the Hemisphere.”
The United States posted a surplus in trade in goods with the CAFTA-DR region in 2007 — almost $3.7 billion, up from a $1 billion surplus in 2006. U.S. exports in 2007 to the five countries that have implemented the CAFTA-DR (El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic) grew 15.4% from 2006. U.S. exports in 2007 to the five countries were at record levels: U.S. exports reached $22.4 billion to all the CAFTA-DR countries, up 14.4% from the previous year.
Last year, trade with countries with which the United States has FTAs was significantly greater than their relative share of the global economy. Although comprising 7.5% of global GDP, not including the United States, those FTA countries accounted for more than 42% of U.S. exports.
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Sitel Expands Global Footprint to Managua, Nicaragua
Wednesday February 13
BPO Leader's Expansion Illustrates Growing Demand for Latin America-Based Customer Support Services
NASHVILLE, TN--(MARKET WIRE)--Feb 13, 2008 -- Sitel, a leading global business process outsourcing (BPO) provider, today announced it will open a customer care facility in Managua, Nicaragua in April 2008. Sitel's new multi-channel contact center will strengthen the Company's ability to provide high-quality, multilingual customer care and technical support solutions to leading companies worldwide. The 14,747-square-foot facility located at Torre Invercasa No. II, Frente al Colegio La Salle, is expected to staff more than 250 associates with the capacity for an additional 180 seats. Sitel's recent expansion to Nicaragua demonstrates growing demand among Sitel clients for Latin America-based contact center support.
"Latin America is a key part of the growing near-shore horizon to support English and Spanish bilingual customers in North America," said Dave Garner, CEO of Sitel. "Nicaragua offers a talented bilingual workforce to support our clients. We're proud to expand Sitel's presence in the region."
Latin America is becoming the world's next BPO hot spot due to the region's unique ability to offer dynamic, multilingual contact center services for a wide range of global markets. Driving market forces include:
- U.S. companies seeking BPO services in close proximity and time zone, as well as workforces with a similar business culture and strong English-and Spanish-speaking skills;
- Spanish language companies looking to global sourcing options for affordable customer support services and skilled Spanish-speaking customer care agents; and
- Global businesses looking to diversify beyond the confines of the traditional sourcing markets such as the Philippines and India, which are feeling the pressure of maturing competition for skilled labor.
For more information, please visit Sitel online to read the white paper "Latin America: The Next India?" Additionally, Sitel offers a podcast by the same title featuring commentary by global outsourcing expert and Datamonitor Analyst Peter Ryan.
"As a rapidly emerging BPO center, Latin America offers a logical and affordable choice for businesses looking to outsource their customer care," said Ryan. "The factors driving market growth in this part of the world include the availability of a skilled labor pool and the liberalization of domestic economies. Companies, including Sitel, with Latin America-based operations offer their clients a competitive advantage."
About Sitel
Sitel is a global Business Process Outsourcing (BPO) leader. The company meets clients' customer care and transaction processing needs through 67,000 associates in 27 countries. Sitel provides world-class solutions from on-shore, nearshore and offshore locations across 155+ facilities throughout North America, South America, EMEA and Asia Pacific. The company's award-winning services provide clients with the strategic insight, scale and diversity of offerings to ensure the best return on their customer investment. The company is privately held and majority owned by Canadian diversified company, Onex Corporation. For more information, please visit www.sitel.com.
New Wave announces management and geologist for Nicaraguan property
www.alacrastore.com/storecontent/newstex
Friday February 22, 11:13 am ET
TORONTO, Feb. 22 /PRNewswire-FirstCall/ - Wave Mobile Inc. (OTC: NWWV.PK - News) is pleased to announce it is in the final stages of signing employee agreements with key management personnel that will co-ordinate and oversee all aspects of its mining operations in Nicaragua. Glen Hodgson, a noted mining geologist and Mr. Mohamed Sankar, a businessman entrepreneur, have agreed to take over the responsibilities of Director of Exploration and Development and Operations Manager respectively. Mr. Mohamed Sankar and Mr. Glen Hodgson bring a combined mining and business experience in excess of sixty years, and are well suited for their respective positions.
Each is well versed with the local business environment and practices and fluent in the local language. Contracts and compensation should be completed in the next few days.
In addition, the Company is in final negotiations with local mining lawyers and engineers to complete its mandate of assembling a highly experienced mining team in order to effectively and efficiently operate its mining projects.
The company is very pleased to date that it has retained some of the best qualified personal in Nicaragua to join the board. It speaks highly of the potential of the properties that have been acquired and further to the potential of the ones that have been identified in and around our La Curva gold property.
Key details about Mr. Hudgson and Mr. Sankar are as follows:
Mr. Moe Sankar has obtained the rights to secure a gold mining operation on The La Curva gold property. Mr. Sankar, a resident of Canada, will be the Company's main operating manager of the mine in Nicaragua and will be on-site and hands on in the setting up and running the on-going operations of the mine. Mr. Sankar has in excess of fifteen years experience in the Central American region, meeting and understanding how these gold deposits are mined and exploited. In addition, Mr. Sankar has met with the necessary officials in the Central Government of Nicaragua to obtain any federal permission required to exploit and export the gold ore reserves mined on the La Curva gold property.
Mr. Glen Hodgson is a top geologist in Nicaragua, having been in charge of granting all the mining rights to individuals and companies for exploration and exploitation in Nicaragua for the Ministry of Mining of the Central Government of Nicaragua. Mr. Glen Hodgson is recently retired and has formed his own private consulting Company with other geologists and mining engineers/consultants to assist mining companies in testing and quantifying gold and other mineral deposits on their properties. Mr. Glen Hodgson and his Company will review all matters of exploiting the La Curva property as consultant to the company and will direct the Company's overall mining operations.
Furthermore, Mr. Glen Hodgson and his Company will perform further tests on the La Curva gold properties to quantify the amount of gold reserves present on the property, as well as secure further properties that contain gold reserves for future acquisition/joint venture and exploitation.
The property has a terrestrial expansion of approximately 2,000 acres and is located in Bonanza, a mining district that forms part of the world famous Golden Triangle of Nicaragua. The District of Bonanza has been a major contributor to the gold production in Nicaragua.
This property known as "La Curva" borders the "Hemco Nicaraguan Concession", which has been a profitable gold producer for years. La Curva has never been exploited commercially but artisan and diggings performed by local miners indicate superficial gold deposits in various areas of the property. Existing assay results for the District of Bonanza indicate that 60% of all its land area contains economically exploitable gold reserves.
The Company expects to issue further news on this significant opportunity shortly. New Wave currently has 237,000,000 shares outstanding now that its acquisition of Playstar Corporation shares is complete and filed with the NASD. The transfer agent is Transfer Online of Portland, Oregon. New Wave would like to state that the company will not be reorganizing the share structure through a consolidation.
This press release contains “forward looking” statements within the meaning of Section 21A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 as amended, and is subject to the safe harbors created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors discussed in New Wave Mobile reports that will be on file with the US Securities and Exchange Commission.
Loan Signing for Limon Ciudad Puerto
The World Bank to Finance 72, 5 millions
www.elfinancierocr.com
27/02/2008 02:00 PM
Editorial Office
President Oscar Arias confirmed this morning that for the first time in several years, the province of Limón will be a priority to the country.
The President and Finance Ministry officials signed with the World Bank a $72.5 millions loan agreement to finance the reactivation of Limón and supporting the port modernization.
In a press release, the Government announced the amount will be completed with fund counterpart of $7.5 millions to total $80 millions.
With the participation of 14 institutions and for the next five years, this credit will allow the execution of public works such as the restoration of historic buildings as well as the construction of cultural and recreational parks.
It will also allow finishing up the sewer system for the entire city, besides to public works that will prevent the Limoncito river basin from flooding.
In addition, municipal strengthening will be promoted, Mojín port terminal access will be improved and a large part of railway transportation which will permit clearance of Route 32.
The Limon Port City project is part of the Government total development strategy for the province
The loan is repayable in 15 years including a year grace period.
Government expects to solve all registered property disputes by 2011
www.nicanet.org
Prosecutor General of the Republic (PGR) Hernan Estrada hopes to resolve all 5,620 of the registered property disputes within Nicaragua during the current administration (2007 – 2012). “President [Daniel] Ortega hands out property deeds every week and will continue to do so on a massive scale [during his administration],” said Estrada. “At this rate, we expect to resolve all of the property disputes left unresolved by the previous governments” including the 562 cases involving foreign nationals, the majority, US citizens.
Estrada confirmed that the PGR is not resolving any compensation claims for property confiscated during the 1980s presented by US citizens after December 2003. Despite an agreement between the Nicaraguan and US governments that no further such claims would be accepted by the PGR, Estrada said that US citizens (in the main, Nicaraguans who left Nicaragua at the time of the 1979 revolution and became naturalized US citizens) continue to present compensation claims.
Nicaragua Government signs Loan Agreement for 47.7 million dollars with IDB
nicaragua-bid23-02-2008
Nicaraguan Government Officials and the IDB signed two Loan Agreements for 47.7 million dollars to support projects in energy and construction of popular housing.
The Ministry of Finance, Alberto Guevara, informed that one of these loans for 32.7 million dollars is to implement projects in the electric energy sector.
These funds will be also used to repair two hydroelectric plants in the northern region of Nicaragua, as part of the plans to reduce oil dependence in the electric energy generation.
The second loan is for 15 million dollars destined to the construction of 50,000 houses in different places of Nicaragua.
Both loans were signed by the IDB representative in Nicaragua, Mirna Liévano, and the Ministry of Finance, Alberto Guevara, in a neighborhood in Managua during the program “People President” presided by the sandinista ruler Daniel Ortega.
2008 Edition of Telecoms, Mobile and Broadband in Central America Report Offers a Wealth of Information on Trends and Developments in the Industry
www.centredaily.com
Thursday, Feb. 28, 2008
DUBLIN, Ireland — Research and Markets (http://www.researchandmarkets.com/reports/c84195) has announced the addition of 2008 Latin America - Telecoms, Mobile and Broadband in Central America to their offering.
The Central American countries are Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama, all of which are small countries with generally low GDP per capita but with considerable scope for development in all telecom sectors. This annual report offers a wealth of information on the trends and developments in fixed-line telephony, mobile telephony, Internet, broadband, digital TV, and converging media including VoIP and IPTV developments.
Subjects include:
- Key statistics and forecasts;
- Market and industry overviews;
- Government policies and regulatory issues;
- Historical information;
- Major players (fixed-line, mobile, broadband, and pay TV);
- Telecom infrastructure (national and international, fixed and wireless);
- Mobile voice and data markets;
- Internet market and VoIP;
- Broadband (DSL, cable, wireless);
- Convergence, pay TV, and developments in digital TV.
Central America is a tropical isthmus that connects North and South America, and separates the Caribbean from the Pacific. It comprises the seven republics of Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. The region is relatively small, extending for about 524,000km2. The land is fertile and rugged, and dominated by a string of volcanic mountain ranges.
Belize: While geographically part of Central America, Belize has much in common with its Caribbean Island neighbors. The Belizean telecom market was officially liberalized in January 2003, yet the incumbent, Belize Telecommunications (BTL), still holds a virtual monopoly. With scant competition and ineffective regulatory control, it has been able to charge exorbitant rates for its services. A controversy over VoIP is a case in point. Although both the government and the regulator declared that they wanted to move the telecom sector towards greater competition, in practice BTL lobbied against VoIP and has been able to block any possible competitors from using VoIP. BTL does, however, face competition in the mobile sector, where SpeedNet launched services in March 2005 under the brand name Smart, and succeeded in carving out about 18% of the market after only 15 months of operation.
Costa Rica: State-owned Instituto Costarricense de Electricidad (ICE) and its subsidiary RACSA are the monopoly providers of virtually all telecom services except for pay TV and paging. While this situation worked in the past, it is now leading to considerable problems, such as long waiting lists for phones, poor service quality, obsolescence, and lack of investment. Although it has one of the highest fixed-line teledensity rates in Latin America, Costa Rica's mobile penetration is significantly lower than the regional average and well below what could be expected given its relatively high GDP per capita. The preliminary signing of the Dominican Republic-Central American Free-Trade Agreement (DR-CAFTA) in January 2004 marked a significant step for Costa Rica, as DR-CAFTA calls for the liberalization of some telecom services. But the Costa Rican population is deeply divided over DR-CAFTA, and the ratification of the agreement has been delayed, together with any liberalization plans.
El Salvador: The country's telecom market is among the most open in Central America. The government's liberal approach has allowed new technologies to flourish. Fixed-line teledensity, however, remains low. Despite growing steadily, phone lines, mainly in rural areas, are insufficient to meet local demand. Mobile telcos have capitalized on the underdeveloped fixed-line network by emphasizing their ability to offer a fast, high-quality service with nationwide coverage. At more than 42%, El Salvador's mobile penetration is lower than the Latin American average, but is remarkably high considering the country's low GDP per capita. The mobile market is served by five competing operators, and there are about three times as many mobile phones as fixed lines in service. With a budding VoIP market, and cable TV telcos permitted to provide telephony and Internet, El Salvador is a promising country for convergence strategies. Two operators already offer triple play services.
Guatemala: The largest telecom market in Central America, Guatemala has been held back by poverty, income inequality, and violence. The distribution of income in Guatemala is highly unequal, with around 75% of the population below the poverty line. The telephone system reflects this inequality, with a relatively modern network centered in Guatemala City, but one of the lowest teledensity rates in the region. Outside the capital, the rest of the country's fixed-line infrastructure is inadequate and antiquated, though much improved since the telecom sector was liberalized in 1996. Mobile telephony is the fastest growing market. There are about four times as many mobile phones as fixed lines in service. While mobile penetration is about 20% lower than the Latin American average, it is remarkably high considering that the country's GDP per capita is roughly one-half that of the region as a whole.
Honduras: One of the poorest countries in the Latin America, Honduras has one of the least developed telecom infrastructures and the fourth lowest teledensity in the region. Fixed-line telephony was officially opened to competition in December 2005. A New Telecom Law governing full liberalization, however, has been delayed due to political controversy over the role of Empresa Hondurena de Telecomunicaciones (Hondutel), the state-owned national telecom provider. Efforts to privatize the incumbent have so far failed to come to fruition, and are awaiting the New Telecom Law to be passed. Two companies compete in the mobile market: Millicom's Tigo and America Movil's Claro. Unsatisfied demand for basic telephony has driven a veritable boom in the mobile market, with annual growth rates of around 80%.
Nicaragua: With the second lowest fixed-line teledensity in Latin America (after Haiti), Nicaragua is one of a growing list of countries leapfrogging directly into mobile communications. Nicaragua's mobile phones exceed the number of fixed lines in service by almost seven to one. In fact, while Nicaragua's fixed-line teledensity is the second lowest in Latin America, its mobile penetration is the fifth lowest, surpassing Honduras, Peru, Haiti, and Cuba. Since 2004, the country's mobile market has been growing at an average annual rate of approximately 60%. Liberalization of the fixed-line market is still awaiting proper implementation, having been delayed by political and legal wrangles. America Movil's Enitel holds a virtual monopoly over the country's fixed lines. The mobile market, on the other hand, is a lively duopoly between Telefonica's Movistar and America Movil's Claro, the latter clearly in the lead with a 70% market share.
Panama: With significant telecom infrastructure, a liberalized market, and serviced by five global fiber optic cables, Panama is an attractive country for telecom investments, especially following the October 2006 decision to broaden the Panama Canal. Competition, however, is slow to develop in basic telephony, where the incumbent Cable & Wireless Panama (C&WP) is reluctant to unbundle its local network, but the long distance sector has attracted several players, leading to huge price drops, especially in international calls. During 2006, C&WP was the Panamanian public services company that incurred the most complaints. Its mobile unit, trading as +Movil, has a 50% share of the mobile market; Telefonica's Movistar has the other 50%. In the Internet market, although penetration is still low, dial-up and ADSL connections are developing at a fast pace; growth potential in this sector is excellent. The leading cable TV company, Cable Onda, has started to offer Triple Play services (converged broadband, telephony and pay TV).
Companies Mentioned:
- Belize Telecommunications Ltd
- Enitel Movil
- Movistar
- Alo PCS
- BellSouth Guatemala
For more information visit http://www.researchandmarkets.com/reports/c84195.
Research and Markets Laura Wood Senior Manager Fax: +353 1 4100 980 press@researchandmarkets.com
P. Licks Puts Fair Trade Organic Nicaragua Coffee in the Spotlight
www.theopenpress.com
DATELINE: BOSTON; BROOKLINE; JAMAICA PLAIN; NEWTON CENTRE; SOMERVILLE AND WEST ROXBURY, MA
J.P. Licks, the Kosher-certified scoop shop with seven stores in and around Boston, is known for their high quality, homemade (and sometimes outrageously flavored) ice cream. But, what many don’t realize is that they are just as particular about their coffee – where it comes from, how it’s roasted and how it tastes.
With February being “Specialty Coffee Month”, J.P. Licks’ passion for coffee and commitment to coffee growers is highlighted through their limited edition offering of Fair Trade Organic (FTO) Nicaragua coffee, which comes from Promotora de Desarollo Cooperativo de las Segovias (PRODECOOP), based in the Segovia region of Northern Nicaragua and boasting of 40 cooperatives.
PRODECOOP was established in 1993 to provide assistance to its members’ families in the sustainable production and the marketing of their coffee. Their revenues from fair trade sales support many social and quality control programs including: primary and secondary school scholarships and books; a revolving social fund that assists with disaster relief, healthcare and homebuilding; an organic production program that has boosted their certified organic coffee production significantly; improved processing equipment and the creation of a quality control center to maintain their high standards.
When it comes to Fair Trade coffee, J.P. Licks insists upon several factors before partnering with a grower: fair price; environmental sustainability; fair labor conditions; direct trade; community development and organic cultivation.
“Where our coffee comes from and how it is obtained is just as important to us as how our coffee tastes. We take pride in being ‘fair’…fair with our employees, fair with our customers, and fair with the people who grow the coffee we roast,” says the enigmatic founder of J.P. Licks, Vince Petryk.
To further ensure high quality and flavor consistency in every cup of coffee, J.P. Licks insists on roasting their beans at their Jamaica Plain store and has been doing so since 1999. FTO Nicaragua is a medium roast coffee…not too dark, not too light, but just right.
Customers who enjoy a great cup of J.P. Licks coffee may also purchase their favorite blend of fresh roasted coffee beans. With coffee bean sales accounting for more than 25 percent of their business, J.P. Licks continues to meet considerable consumer demand for the best brewing beans in Boston.
J.P. Licks can be found at Coolidge Corner, Davis Square, Mission Hill, Newbury Street, Newton Centre, West Roxbury and Jamaica Plain. Visit www.jplicks.com to check their store hours.
Best of Boston and Beyond
For more than 25 years, J.P. Licks has been serving homemade ice cream and other specialties in their seven Kosher-certified shops in and around Boston. Locally owned and operated, J.P. Licks has won many awards over the years for their intensely-flavored homemade ice cream and frozen yogurt. Most recently, J.P. Licks was named “Best of Boston” by Boston Magazine and also made WBZ’s “A-List” for the second year in a row. Known for their high quality, scrumptious treats and their knack for “treating people right”, J.P. Licks was named Greater Boston Chamber of Commerce’s “Small Business of the Year”.
In addition to their frozen creations, J.P. Licks has taken it upon them to roast their own fair trade and organic coffee beans on-site at their Jamaica Plain store, which ensures the best and the freshest, full-bodied cup of coffee around. Decadent hand-packed ice cream cakes as well as breakfast & ice cream sundae catering are also available.
Visit the website at www.jplicks.com for more information.
Nicaragua resume Free Trade Agreement talks with Canada
www.elnuevodiario.com
The Nicaraguan government said on Wednesday its readiness to resume negotiations for the signing of a Free Trade Agreement (FTA) between Central America and Canada, which were suspended six years ago by discrepancies.
"We will resume the negotiations of the treaty from a regional approach which is also convenient to Canada," said Minister of Development, Industry and Trade of Nicaragua, Orlando Solorzano.
The official explained that negotiations were stopped because of some differences in the treatment to some products, mainly textiles, but now there is a willingness to accelerate the talks with more flexible positions.
Central American Country members of CA-4 Group, Nicaragua, Honduras, El Salvador and Guatemala, with which Canada already negotiated the first part of the agreement, participate in the negotiations. Costa Rica on its side has an FTA with Canada for five years.
Minister Solorzano said Nicaragua is interested in strengthening trade relations with Canada, where currently exports meat, seafood, mineral, rums, cereals and other agricultural and industrial products.
Nicaraguan exports to Canada increased in the last six years from 18 to 68 million, according to the government Center for Export Processes (Cetrex).
Humanitarian Works
Charity Workers Gear Up for Trip to Nicaragua
Southlake Times Star Community Newspaper
By SARAH BLASKOVICH, Staff Writer
(Created: Thursday, February 14, 2008)
Last time Westlake resident Debbie Dickey was in Chinandega, Nicaragua, she saw first-hand why her international efforts were useful, she said.
A visit to the local children’s hospital revealed rooms of sick kids sleeping in beds without sheets, with a snoozing mother in a nearby chair. The town clinic had a single, dim light bulb, forcing the female doctor to do her work outside in the hot air, Dickey remembered.
“It’s little things that make you realize the contrast between what we have here and what’s not there.” Dickey said.
Dickey and about 15 or 20 Southlake, Denton and Flower Mound residents who are members of several nearby Rotary Clubs will return to Nicaragua in March to continue building a medical clinic. Last year, volunteers erected a two-room building from the ground up, made of cinder blocks. This year, the local group hopes to build another three rooms.
“It’s just about helping people out that have less than you do,” said Phyllis Catton, international director for the Southlake Rotary Club. “They have nothing.”
The country was ravaged by two separate hurricanes since 2005, Catton said, and the third-world community is in need of medical supplies and housing. The clinic will aid residents of La Florida, an annex of 8,000 people who live in a poor neighborhood near Chinandega. Each room in the clinic costs about $10,000 to build, so the Rotary groups are hoping to raise at least $30,000 to build the three rooms. About half the money has come in so far.
Dickey is hopeful — even the $16,500 raised can help the tropical community, she said.
What she remembers best about last year’s trip is not the scorching heat or the long days hauling equipment from sunup to sundown. She can’t wait to return to those barefoot kids, she said, each a reminder of why she went.
Dickey remembers one 6-year-old who latched on to her as she and others collected garbage near the building site last year. Among the broken glass and debris, the child found a 2-inch copper wire, barely long enough to sell for money.
“You would have thought he found an iPod,” Dickey said, who can speak fluent Spanish to the residents and children. “His face lit up, and he picked that up like it was a treasure.”
When the Rotarians arrive to Nicaragua, they are greeted by a small group of fellow Rotary Club members who live in Nicaragua. The kinship among Rotary groups can be seen across the world, Catton said.
Rotarians pride themselves on perfect attendance, and Catton said she hasn’t missed a weekly meeting in her 20 years in the club. When she visited Istanbul, she found a local meeting. Tokyo too.
Catton recalls visiting the Japanese group more than 15 years ago, comprised of only male members. Though women were invited to join the international club in 1986, her trip in 1991 proved that the custom hadn’t reached Tokyo.
“They were gracious, and they brought me in,” she said. “This is why I love it.”
Catton will be going to Nicaragua for the first time this year. She hopes to get a glimpse of the few Rotary symbols already branded on Nicaraguan landmarks — such the photos she saw of the icon on a water well in a far-out suburb. There was also the Rotary brand on a medical cabinet at the local hospital, she said.
The Southlake groups plan to take an extra suitcase filled with clothes, kid’s toys and medical supplies, including CPR equipment that they will leave for the residents to use and continue to teach others.
To raise the extra $15,000 or so for the trip, the Rotary Clubs in Southlake, Metroport (which is also a Southlake club) and Denton County will host a Texas Hold ‘Em tournament Saturday. For the more timid gamers, there will also be dominoes and blackjack, Catton said.
For information about the fundraiser or to get involved with a Southlake Rotary Club, contact Debbie Dickey at 817-905-9528.
Contact Staff Writer Sarah Blaskovich at 972-628-4074 or SBlaskovich@acnpapers.com..
WFU group to help Nicaraguan businesses
Wednesday, February 27, 2008
Sixteen students and at least two faculty members from Wake Forest University will spend spring break helping Nicaraguan business owners, while also learning about business.
The March 7-14 trip will be the fourth made by students from the Babcock Graduate School of Management in a little more than a year as part of the Project Nicaragua program.
"They are going to offer two simultaneous business seminars, making it possible to keep the intimate classroom environment, but serving twice as many people," Sherry Moss, the project's faculty adviser. "They are also going to work one-on-one with several of the returning participants before and after the seminar in an effort to sharpen their consulting skills while helping the entrepreneurs with their specific challenges."
Chris Yuko, a Babcock student, one of the project's founders and the Nicaragua program director, said the two seminars will allow the students to work with 40 Nicaraguan business leaders.
"We are very proud of the impact we have had on these business leaders," he said. "Now we desire to take it to the next level and find a way to quantify the impact we are having. We are looking to establish a video conference center in our partner organization's office here in Managua. This will allow us more continued direct contact with the network of businesses. Student teams at Wake Forest will be able to speak directly with their businesses and continue the two-way learning and transfer of knowledge that takes place during the trips to Nicaragua."
More than 30 individuals at Babcock are working on the project, which was in fall 2006 by several Babcock students.
In addition to the business seminars, the students plan to launch the first children's activity day at La Chureca, the city dump. It is home to approximately 1,500 people.
For more information about Project Nicaragua, visit www.mba.wfu.edu/nicaragua.
Gran Pacifica shareholders and homeowners at Calle Nueva Rural School
Ligia Diaz, CHESS Project Coordinator*
This is the second time we hold a social event with Gran Pacifica’s shareholders in one of the CHESS schools. The first time was at Osneida Medrano School (48 students) in January 2007 and this second time at Calle Nueva School (60 students). At Calle Nueva the event was very special because we were also inaugurating our first mini library project in Villa El Carmen. An old unused classroom was transformed into a clean welcoming space for children to read in groups or alone.
On Sunday January 13th, Gran Pacifica shareholders, homeowners and friends donated 250 books as a total for the five mini libraries we plan to finish by mid 2009. They also painted swings, tables, chairs and bookshelves.
Franco Harris, former Pittsburgh Steeler and Hall of Fame, who recently joined Gran Pacifica was especially involved in teaching students how to paint their own furniture.
We enjoyed wonderful performances from the students: a Folklore dance, a poem by Ruben Dario and most importantly we were able to confirm that students are learning English by hearing them sing.
The event ended by hitting the Piñata and by children receiving gifts from Las Perlas staff members, Fred Ulrich Jr. Las Perlas is the first condominium ready at Gran Pacifica Beach and Golf Resort.
Thanks to the contributions of so many Gran Pacifica friends and the CHESS project working with Alliances Program for Education and Health, Pittsburgh Rotary Clubs and Gran Pacifica, the mini library was inaugurated and small repairs in the school were done.
For more information about our project you can visit us at www.chessnicaragua.com
*Ms. Ligia Díaz is our In country Coordinator and Education Program Manager of Gran Pacifica Children, Health, Education and Supporting Services (CHESS). She is a Master of Education (MEd), University of Pittsburgh and has large experience in education programs. She worked for the Center for Latin American Studies at the University of Pittsburgh as Coordinator of School Visit Program and also as the Academic Affairs and Outreach Assistant. She worked as a volunteer for UNESCO’s Associated School in Pittsburgh in teacher training.
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