With the important mission of creating jobs and contributing to the economic growth of Nicaragua, PRONicaragua celebrates this October, 6 years of its creation by law as a decentralized entity of the State, and 19 years since it started as an economic development program of the United Nations Development Program (UNDP) in 2002. Throughout these years, Nicaragua's Official Investment Promotion Agency has advised and guided the establishment of more than 300 companies, becoming a strategic partner of those who seek to explore business opportunities in the country, and a key player in the implementation of the national poverty reduction and sustainable development strategy.

Foreign direct investment (FDI) is one of the main sources of economic growth, and the FDI flows a country receives are largely related to the role played by investment promotion agencies (IPAs). Therefore, countries recognize the importance of creating and reinventing IPAs to attract investment; in the last 30 years, the number of countries with IPAs has quadrupled in Latin America and the Caribbean. Likewise, countries have significantly expanded the scope of their IPAs' international office networks: about 20 new offices have been established abroad in the last 5 years.

However, not all IPAs are the same and there is even a multiplicity of approaches to establishing and managing them. Agencies differ in almost every aspect, from overall size, intensity of reforms, and institutional independence, to the degree to which they specialize, focus on certain investments, interact with other entities, and evaluate their activities.

In the case of Nicaragua, the Official Investment Promotion Agency is PRONicaragua, which operates under the sectoral leadership of the Presidency of the Republic and with a public-private board of directors. Since its creation, it has promoted investment in Nicaragua in different strategic sectors such as light manufacturing, agribusiness, and outsourcing, with the aim of generating employment and contributing to the social and economic development of Nicaragua.

Likewise, PRONicaragua has an international office located in Washington D.C. and two regional offices, one in the Autonomous Region of the North Caribbean Coast (RACCN), and another in the Autonomous Region of the South Caribbean Coast (RACCS).

The Agency, therefore, represents an agent of social change, promoting the country as a safe and strategic destination for investments.

On the other hand, thanks to its high-quality standards and implementation of best international practices, the Agency has been recognized on different occasions by prestigious expert institutions in the field of investment promotion, which in turn has given way to continuously improve its performance. 

In 2009, PRONicaragua was evaluated as the 11th best IPA in the world and the 2nd best in Latin America, according to the Global Comparative Study of Investment Promotion 2008 (GIPB). In 2012, it was recognized as the best Agency in the world and the only one to achieve a rating of “Best Practice” in all the evaluated dimensions of the Global Comparative Study of Investment Promotion 2012 (GIPB). Additionally, in 2014 it was ranked as the best agency in Central America and the second in Latin America in the 2014 Online Marketing Index (OMIX).

PRONicaragua offers free and confidential support for investors throughout all the stages of country evaluation, establishment, and operation of companies. These services include: complete information on the legal framework, regulations and investment opportunities in Nicaragua; organization of personalized visits to the country and meetings with public and private actors; contact with local companies to establish joint ventures and find suppliers, as well as establish other types of business alliances; assistance in identifying the ideal real estate for a project; guidance in permitting processes and government procedures; assistance and streamlining in the resolution of problems that require negotiations with State institutions; support in human talent recruitment processes; support in planning, development and initiation of projects; legal advice; and identification of proposals to improve the investment climate of the country.

For more information contact us at pr@pronicaragua.gob.ni