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Get to Know About Nicaragua
Nicaragua is a nation situated in Central America whose economy has been growing well in recent years. Agriculture is the main industry in this nation, and it accounts for most of its exports. Among the primary agricultural products here are included sugarcane, cassava, and tobacco.
Nicaragua’s exports its goods to countries like Venezuela, and this is a good source of revenue for the nation. Tourism has become a thriving sector here in recent years and has contributed very much to uplift the economy. Nicaragua’s beaches and scenic locations are attracting millions of visitors annually. The service sector is also doing well here.
Nicaragua is reputed for the protection of its investors, and this gives it a good advantage for doing business in Nicaragua. It’s access to the huge markets of the US, and Europe is another big plus point. The policies of the Nicaragua government are very favorable for foreign investors. There is also the easy availability of a young, literate, and skilled workforce here. The reduced costs of labor, when compared to other nations, is also another plus point.
One of the challenges encountered in doing business in Nicaragua is the bureaucracy in the public sector undertakings along with the lack of stability in the political climate. Another negative factor is the poorly developed infrastructure. The legal system here is also not very satisfactory.