Diplomatic World_69

Proof of this is the existence of PRONicaragua, the country’s
solidarity values ​and practices that guide the construction of vir-
Official Investment Promotion Agency, which has the full support
tuous circles of human development with the recovery of values,
and works hand in hand with the Government. Likewise, the
the restitution of rights and the strengthening of capacities that
appointment of a Presidential Delegate for Investments, to coor-
have made it possible to overcome the vicious circles of poverty
dinate investment promotion efforts and ensure the successful
and underdevelopment.
development of these projects, affirms the positive position of
the Government towards foreign direct investment.
The strategy of the Plan is to turn all the forces and resources towards
the fight against poverty in an integral way, with inclusion
The Ministry of Development, Industry and Commerce (MIFIC)
and reduction of inequality, with the participation and protago-
formulates and executes strategies, policies, programs, pro-
nism that elevate the empowerment of the Nicaraguan people in
jects and regulations that promote and stimulate national and
the construction of their own happiness and development.
international production and trade; they stimulate the articulation
In 2007, the GRUN issued the Cultural Policy of Nicaragua,
and transformation of productive and commercial chains; the
recognizing the “right of the people to create and enjoy art and
development of the industrialization process and the promotion
national culture”, establishing guidelines aimed at rescuing,
The Government of Nicaragua seeks to provide a friendly climate
of exports, contributing to the economic and social development
validating, defending and promoting national culture and herit-
for the establishment of new businesses in the country, offering
of the country.
age, material and traditional or immaterial, its interrelation with
a series of fundamental guarantees through the Law for the Pro-
tourism, the environment, having as a fundamental element the
motion of Foreign Investments (Law No. 344), bilateral agree-
The main economic sectors in which European entrepreneurs
active participation of the Nicaraguan population.
ments for the protection of investments, and the Mediation and
have invested include energy; services; telecommunications;
Arbitration Law (Law No. 540).
industry; mines; fishing and tourism.
In 2018, the National Commission for Creative Economy was
formed, which brings together strategic institutions that work
The main benefits granted by the Foreign Investment Promotion
Law (Law No. 344) include, among other, the following:
• Free currency convertibility.
• Freedom to repatriate all capital and profits, dividends or profits
generated in the national territory, after paying the corresponding
taxes.
• Recognition of Copyright, Trademarks and Patents.
• Alternative resolution of conflicts between investors and
NICARAGUA, DESPITE BEING RELATIVELY SMALL
IN SIZE, IS INCREDIBLY RICH AND DIVERSE,
CULTURALLY, LINGUISTICALLY AND ETHNICALLY.
WHAT IS BEING DONE TO PRESERVE AND PRO-
TECT THIS RICH HERITAGE AND PASS IT ON TO
THE FUTURE GENERATIONS?
on the promotion and development of the country’s cultural and
creative industries. The foregoing shows the recognition that
Nicaragua gives to this important sector.
In 2021, the National World Heritage Commission was formed
in Nicaragua, which brings together a group of state institutions
linked to the protection, conservation and dissemination of
Nicaraguan tangible and intangible cultural assets of universal
living conditions of the families and communities that live in their
territories. These actions are guided by the Municipal Plans that
correspond to the National Plan to Fight Poverty and for Human
Development, which articulates the various efforts of local and
national institutions, projects and programs of cooperation and
• government.
From the first stage of the Sandinista Popular Revolution in the
importance. One of the main tasks of this Commission is to
twinning. The cooperation and twinning actions are developed
• No minimum or maximum investment amount.
1980s and the new leadership of the Government of Reconcil-
promote the Candidacy of the City of Granada and its Natural
within the framework of mutual respect, solidarity, brotherhood,
• There is no discrimination between foreign and national
iation and National Unity (GRUN) in 2007, the value of national
Environment as Mixed Heritage of Humanity, currently in the
cultural exchange and respect for the sovereignty and customs
investors.
culture is recognized in the Political Constitution of Nicaragua,
process.
of the peoples.
• Accelerated depreciation of capital assets.
reaffirming and strengthening the right to enjoy and have access
• Access to national loans through local banks, in accordance
to Culture, recognizing native and Afro-descendant peoples,
The Nicaraguan Institute of Culture is the national body from
In Nicaragua there are three twinned municipalities with an equal
with their approval terms and conditions.
maintaining and developing their own cultural traditions, as well
which cultural policy is promoted and local authorities and the
number of cities in Belgium, these agreements are very important
as the free expression and preservation of their languages, art
population in general are accompanied in the development of
to promote cooperation ties, the projects are executed satisfac-
Nicaragua has signed 20 bilateral agreements for the protection
and culture.
their cultural projects, both in the promotion and artistic creation
torily and contribute to improving the living conditions of families.
of investments with several countries in North, Central and South
as well as in the protection and promotion of the national cultural
These relationships contribute to the rapprochement of our peo-
America, as well as Europe and Asia, 14 of these agreements are
The duty of the State to rescue, protect and promote the
heritage. The Mission of the INC is to “promote the rescue,
ples, to know our customs, traditions, culture and contribute to
in force to date. The country has several alternatives for con-
archaeological, historical, linguistic, cultural, artistic and tradi-
defence and promotion of all the features of our national cultural
the integral development of families. The main lines of work that
flict resolution, including: International Center for Settlement of
tional heritage of the Nation is also recognized, guaranteeing
identity.”
are developed are environment, education, attention to young
Investment Disputes (ICSID); Multilateral Investment Guarantee
the active and creative participation of the Nicaraguan people
people, children and pregnant women; tourism and production.
Agency (MIGA); Overseas Private Investment Corporation (OPIC);
United Nations Commission on International Trade Law (UNCI-
TRAL), etc.
A PRO-INVESTMENT GOVERNMENT
The Government of Nicaragua recognizes the positive impact of
Foreign Direct Investment (FDI). In this way, it actively and openly
in the development and strengthening of the national culture.
Nicaragua’s development model is expressed in the National
Plan to Fight Poverty and for Human Development 2022-2026,
constituting the governing instrument of public management,
contains policies, strategies and transformative actions that ratify
the path of economic growth and the defence and restitution of
the rights of Nicaraguan families, with the reduction of poverty
and inequalities.
THREE BELGIAN CITIES HAVE SISTER CITY
ARRANGEMENTS WITH NICARAGUAN COUNTER-
PARTS. WHAT, IN YOUR VIEW, IS THE IMPORTANCE
OF SUCH ARRANGEMENTS TO PROMOTE
BONDS OF COOPERATION AND UNDERSTANDING
BETWEEN THE PEOPLE OF BELGIUM AND
NICARAGUA?
At present, the three existing sister city arrangements between
Nicaragua and Belgium include:
• Nandasmo – Willebroek
• Santo Tomás Chontales – Mol
• Ciudad Darío – Lommel
We would like to thank all government institutions and organisations
in Nicaragua which have contributed to this interview.
promotes the entry of investment flows to develop the country.
The basis of the Plan is the Christian and Solidarity Model, with
The municipal mayor’s offices work hard trying to improve the
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