Nicaragua attracts $1.28 bn FDI in 2012

Nicaragua drew $1.28 billion in foreign direct investment (FDI) in 2012, being an attractive destination for investment in Central America, an investment company manager said Thursday.

"We have seen a boom in investment here because of the fact that we stand out in Central America as a safe country with the right investment climate, which is now bearing fruit," said Roberto Brenes, general manager of the privately-run Center for Exports and Investments (CEI).

Brenes said that to increase the FDI and attract greater and better investment, it is important to continue the strategic alliance between public and private sectors. The alliance makes Nicaragua a model for other Central American nations to follow, Xinhua quoted him as saying.

"While investment serves as a macroeconomic indicator, it also serves to indicate the creation of more direct jobs and related businesses," Brenes said.

According to the CEI, Nicaragua's telecommunications and service industries are the most dynamic in terms of attracting the FDI. However, the country needs more efforts to boost investment in agribusiness.

ProNicaragua, the Nicaraguan government's investment promotion agency, expects the FDI in 2013 to reach $1.5 billion.