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Below articles are from the Central American Data sheet: www.centralamericadata.com
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Among the reasons explaining the low penetration of hybrid vehicles in the Costa Rican market is the amount of taxes that are charged.
"New hybrid-electric vehicles under tariff headings 8703 and 8704, with cylinders not exceeding 2,000 cubic centimeters, will be able to benefit from a 20% reduction in the selective consumption tax," states the new provision.
"However, the 20 percentage points referred in the amendment of this decree are in respect to the selective consumption tax (ISC) existing in 2006. In May of that year, the government had already reduced the excise tax from 30% to 15% for hybrid cars ".
"If you reduce the selective consumption tax (for hybrid cars) by 10% , that means a reduction in the final price of the car for between $2,000 and $3,000," said Javier Quirós, president of Grupo Purdy Motor, importers of Toyota vehicles.
Toyota is the only company importing hybrid-electric vehicles in the country, with cylinder capacity of less than 2,000 cc, with prices ranging from $35,000 to $45,000.
Mario Rivera, manager of Banco de Costa Rica, announced credit lines for $200 million, with interest rates of between 4.83% and 5.35% to facilitate the purchase of these vehicles.
Close XThe so called "Mortgage Law" is causing alarm to mining companies who hold concessions that are not productive.
Monday, August 12, 2013
According to an article in Elheraldo.hn in a meeting with representatives from the U.S. Embassy in Honduras, "The leadership of the National Association of Metal Mining Companies in Honduras (Anamimh) has formalized its position against the applicability of the Law on Development Promotion and Domestic Debt Restructuring, because it is a threat and an attack against the local mining industry and deserves to be vetoed by President Porfirio Lobo. "
"... According to the legal counsel to the mining companies Santos Gabino Carvajal, several companies engaged in the operation of metal mining are facing uncertainty because this legislation has the power to suppress the validity of concessions extended to partners one or two decades ago and which have not yet been undertaken. "
The National Congress passed the Public Debt Restructuring Law in mid-July of this year "for the purpose of issuing bonds backed by projects in mining, natural resources and public infrastructure. The government aims through the securitization of these natural resources to obtain future cash flows through payment in advance via taxes and fees for 20 or 30 year concessions. "
Close XCentral American Business Chambers are calling unfair trade practiced in both directions between the two countries to be dealt with.
Monday, August 12, 2013
"We must, as soon as possible, stop the illegal movement of goods from Guatemala to the southern border of Chiapas, in order to be able to aspire to making progress on all our objectives in this new era of trade between Mexico and Central America," said Jose Mejia, president of the Central American Binational Union of Chambers of Commerce, Industry and Investment.
Attendees of the meeting signed a document "which sets out a number of proposals considered to be "urgently needed" to facilitate trade activities between the Isthmus and Mexico, while expressing their agreement with Peña Nieto to push a single trade agreement with Central America... ", reported Prensalibre.com.
For his part, Oscar Eduardo Ramirez, secretary general of the Chiapas state government, said that "we must end the bureaucracy" as the region needs to have more access to investment, a task that falls to governments and the productive sectors.
Close XThe country ranks third in Latin America in terms of the difference between income and expenditure in relation to GDP.
Monday, August 12, 2013
In 2012, government revenues totaled 14.4% of GDP while expenditures were 18.8%.
Data from the Economic Commission for Latin America and the Caribbean (ECLAC), reveals that compared with 2007 figures the country shows a significant deterioration . "... While last year the deficit was 4.4% in that year there was a surplus of 0.6%. Revenue was 15.5% of GDP and expenditure of 14.9%," noted an article in Elfinancierocr.com.
The situation could be more critical this year when taking into account the provisions of the Central Bank estimating that the deficit will close at 5% and analysts who calculate 6% for next year. The economist Fernando Rodriguez points to two factors that have deteriorated to the country. The first is that expenses have increased and the a level of collection has not reached what it was in 2008,15.4% (13% is projected for this year).
Close XAmCham Nicaragua has announced that representatives of the company HKND, concessionaire of the project, will hold a conference on August 13.
Friday, August 9, 2013
The activity, organized by the Nicaraguan American Chamber of Commerce (AmCham), will include the participation of HKND Group spokesman Ronald MacLean-Abaroa and Alberto Vega, a representative from Environmental Resources Management (ERN), the firm responsible for the environmental impact studies.
"We are bringing first-hand to our membership and the Nicaraguan people clarification on the current state of the canal, what progress has been made in these feasibility studies and how far we think it will go," said the president of AmCham, Diego Vega.
"Everything has been moving very quickly and it is important to take a pause, to take a moment to have first hand discussion with the people who are managing the project, so that they can clearly convey to us to where we stand," he added.
"We are going to continue to monitor this process and that is something that from day one we have been asked to do, investors who are not clear on the rules will invest in Nicaragua," said the official.
Close XThe Costa Rican teacher's retirement fund seeks to improve its returns by investing in public infrastructure.
Friday, August 9, 2013
Two bills are being promoted to strengthen the Costa Rican Collective Capitalization Regime which could spend $1.8 billion on public infrastructure.
The driving force behind both initiatives is the Board of National Teachers Pensions and Retirement Plans (Jupema). The first of these projects seeks to amend an article of the 7531 Act to expand the scope of investments of the Collective Capitalization Regime (RCC by its initials in Spanish) and the second initiative seeks exemption from income tax on the income from those investments.
"... these modifications to the national regulatory framework are necessary in order to allow these investments to have sufficient guarantees so that these investment funds are not at risk," said Roger Porras, director of Jupema.
Close XThe Constitutional Court has declared the practice unconstitutional and has prohibited the granting of new fishing licenses.
Thursday, August 8, 2013
Fishing for shrimp with drag nets has been banned "... due to the amount of octopus, small fish, rays, eels, crabs and other marine life that is incidentally captured but not used", reported Nacion.com.
"Since the notification of this judgment the Costa Rican Institute of Fisheries and Aquaculture (Incopesca) will not be able grant any new license or permits for fishing for shrimp with nets. Nor can renew expired permits or reactivate inactive ones". Valid permits and licenses will remain in force until their expiration as long as the corresponding authorities adhere to the judicial order.
"Perhaps, in relation to the exploitation of fishery resources, it is unfortunate that these aspects which should be more responsive to technical assessments and not other kinds, have led to this situation and to this outcome. We will have to gauge the effects of the ruling as a whole, but certainly iw will produce a significant immediate impact, " said the CEO of Incopesca, Luis Dobles.
Close XThe enlargement of the country's territorial sea, granted in the ruling by The Hague, is the justification to reinforce Nicaragua's military naval capability.
Thursday, August 8, 2013
Nicaragua is analysing the possibility of buying eight maritime patrol boats from Russia for the purpose of monitoring the Caribbean waters recuperated from Colombia last November.
According to the Army Chief Julio Cesar Aviles, they have already visited shipyards in several countries including Russia. The aim of the purchase is to strengthen the country's navy.
"There is a real need to acquire these naval assets, (...) this it is the effort we are making, looking at the different existing boats and seeing which ones best suit us," he said.
"Unofficially it has been reported that Russia is preparing an initial shipment to Nicaragua of four patrol boats and two boats equipped with anti-aircraft guns, but the exact type has not been confirmed by the military leadership of Managua," reported Elmundo.com.sv.]
Close XIn Guatemala you have to invest an average of $10,000 to cover the costs needed for equipment, furniture, tools, training and administration.
Wednesday, August 7, 2013
It has been estimated that Guatemalan companies invest an average of $10,000 in the generation of one job, an amount that may vary according to the activity being carried out.
This is according to the Ministry of Labour assessments (Mintrab) in the country. This amount covers the cost of equipment, furniture, administrative and training costs.
According to Mario Marroquin, president of the Union of Extractive Industries, for mining companies the cost of creating one job has soared because of industrial safety issues and other tools needed to perform the activity.
"We believe that under current conditions creating a new position can cost up to $12,820," said Adolfo Lacs, director of the Federation of Bank and Service Employees, who claims that the Mintrab is using data from 2008.
Close XIf it is not even clear whether there is a need for another canal in Central America, then obviously some or all of the routes currently being planned are not going to work.
Tuesday, August 6, 2013
Andres Oppenheimer, in his article in Elnuevoherald.com, notes the incongruity of having so many projects, making so much effort and so much investment in order to transversely divide up Central America, rather than applying those resources to uniting their countries throughout the isthmus.
Nicaragua recently announced the signing of a contract with a Chinese company to build a canal for $40 billion, and Guatemala has made public its intention of having its own dry canal for more than $12 billion.
Andres Oppenheimer from Elnuevoherald.com, consulted Guatemala's ambassador in Washington, Francisco Villagran, on whether the government of that country supported the project and the diplomat said yes. "The government wants to provide every facility so that the project will be viable, because it is in the government's interest as well as municipal governments and the communities which this corridor would pass through," he added.
"If the projects in Nicaragua and Guatemala materialize, they would be competing with the Panama Canal as a means for transporting containers from the U.S. and Latin America to Asia, and vice versa," noted an article in Elnuevoherald.com. However, according to the former director of the Panama Canal, Alberto Aleman, this does not make much sense.
In his view, "it will be much more expensive and complicated to transport products through Guatemala and Nicaragua than through Panama, because while the Panama Canal is only 80 kilometers long, and Panama already has a highway and a transoceanic railroad, while the Guatemalan corridor would be 372 kilometers long and the Nicaraguan canal 290 kilometers long. "
Close XThere are five projects in Costa Rica attempting to set up truly fast internet networks, and all of them are hampered by bureaucracy.
Tuesday, August 6, 2013
An editorial in Elfinancierocr.com explains that in Costa Rica "the five projects designed to bring high speed internet to businesses and homes are stuck."
"... First of all, it begs the question, why have five projects that are so similar? The plans by Racsa, Jasec, ESPH, Curridabat, all offer an open network (available to all service providers) using optical fiber to connect households (known as Fibre To The Home or FTTH), while the ICE is planning to use fiber combined with copper to provide it's services. "
"... Fast and cheap Internet is urgently needed. With each passing day we are losing competitiveness by taking away from our population the opportunity that other countries have to be constantly connected at speeds high enough to mean that response time or the quality of communication, is not an impediment to searching, finding, creating and sharing. There is an urgent need to create a psychology of abundance, in which Internet resources are not an obstacle and are, therefore, freely and abundantly used for creative and productive purposes to increase people's welfare. "
Close XOngoing and projected investments indicate that there is still room for small and medium enterprises.
Monday, August 5, 2013
Small and medium sized supermarket chains are expanding in the greater metropolitan area.
One example is Super Mora, a mini chain of supermarkets from Puriscal which in 2014 will be expanding into Santa Ana, where there are plans to invest $3.7 million in the construction of a 7000 m² square which will include a main supermarket, commercial stores and parking areas. Super Mora is known to be competing with Auto Mercado, which recently opened a 2,600 m² store in Escazu.
Other shops of this type which are also growing are ASUN, Uscosa, Luperon, Coopeagri, and the convenience stores Deli Mart and Quickstop. "It's an industry that is just beginning to unfold, there is still enough room for new competitors," said Flavia Loeb, responsible for publicity and marketing at Deli Mart.
"Data from the research firm Euromonitor International reveals that, in 2012, supermarkets generated $1.59 billion in sales and convenience stores $78.7 million," noted an article in Elfinancierocr.com.
Close XIn Central America microinsurance coverage is minimal, with rates well below the rest of Latin America.
Friday, August 2, 2013
Throughout the region, Guatemala leads they way in such services with 0.58%, followed by El Salvador (0.13%), Nicaragua (0.12%), Panama (0.06%) and Honduras (0.05%) . According to a study by the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB), Salvadorans prefer micro-life insurance (112,000 people) and health insurance (78,000 people).
"In El Salvador there are all kinds of insurance policies, however, there is a need to develop products which meets the needs of the most vulnerable groups, those who can not afford the high volume insurance policies," said Sandra Lorena Duarte, financial services manager at the U.S. Agency for International Development (USAID).
Meanwhile, David Castro, director of management control at Aseguradora Suiza Salvadoreña, S.A.(Asesuisa), believes that microinsurance policies can have a big impact on vulnerable groups. This service is characterized by having a low premium rate and is aimed at people with low incomes.]
Close XThey demand a productivity evaluation of public employees in Costa Rica, and a reform to the Civil Service Statute.
Friday, August 2, 2013
From a press release issued by the Costa Rican Union of Chambers and Associations of Private Enterprises (UCCAEP):
The Costa Rican Union of Chambers and Associations of Private Enterprises (UCCAEP), is asking for the public administration to make reforms, as soon as possible, to the Civil Service Statute to incorporate productivity studies on the tasks performed by public employees in order to improve the quality of goods and services provided by the state.
The private sector made the request after learning about an increase in the occurrence of absenteeism in the workplace as a product of the growth of officials on sick leave at some public entities.
"UCCAEP in their country's development agenda has indicated the urgency of reforming the Civil Service Statute to incorporate the issue of productivity of public officials in the exercise of their functions using evaluations, promotions and compensation," said Mr. Jaime Molina, president of the Union of Chambers.
Close XChina is losing its cheap labor advantage, opening opportunities for growth in the manufacturing sectors of countries like Nicaragua.
Thursday, August 1, 2013
According to a report by Stratfor, a geopolitical intelligence firm based in Texas, "China's economic problems have opened the door to 16 different countries, including Ethiopia, Mexico, Indonesia and Peru, to become global forces in the growth of the manufacturing sector, "noted an article in Americaeconomia.com.
Stratfor says that the 16 countries after China, according to their region are, in Latin America: the Dominican Republic, Mexico, Nicaragua and Peru, in the Indian Ocean Basin: Ethiopia, Kenya, Tanzania, Uganda, Bangladesh, Sri Lanka, Indonesia and Myanmar , and in the periphery of the South China Sea: Cambodia, Laos, Philippines and Vietnam.
"The dispersion of the industries which we see as signs of an initial phase of economic growth is already underway. Moreover, there are no extreme blocks for higher economic growth, however, some of these countries would be considered as having low levels of political risk and stability at least, no more than what China would have had in the period 1978 - 1980 ", says George Friedman, chairman of Stratfor.]
Close XThe Instituto Costarricense de Electricidad is putting out to tender drilling materials for its geothermal energy division.
Thursday, August 1, 2013
Among the supplies requested are:
Sludge and cement additives
Tubular Casing
Valves and accessories
Float Shoes and Float Collars
The deadline for submission of bids, Sept. 2, 2013.
Close XThe Costa Rican Central Bank has decided to remove the limits on credit growth both in dollars and in colones, due to the weak economic growth facing the country.
Thursday, August 1, 2013
The announcement came during the presentation of a review of the Macroeconomic Program 2013-14, where it was revealed that growth projections for that period are 4%, while inflation will be 5%. According to the President of BCCR, Rodrigo Bolaños, the Costa Rican economy is growing at a slower pace due to a reduction in exports, coffee rust, the limitations on sowing more pineapples and even the limit on credit growth.
Following the announcement of the elimination of credit ceilings, the head of the BCCR is concerned about two situations. The first is that dollar credits provided by financial entities are superceding the amount of deposits in that currency. According with Bolaños, when the amount of savings is greater that loans, banks have a mattress or buffer if external financing drops away, but right now, "they are sleeping on the floor".
La second concern of the official, is that "dollar debts which banks have assumed abroad outweigh investments in that currency which are maintained outside of the country, which could generate payment problems", noted an article in Nacion.com.]
Close XThe president of HKND declared that they have already decided the route of the proposed Nicaraguan canal.
Wednesday, July 31, 2013
Wang Jing, president of HKND said that although a feasibility report is currently being carried out, "the framework" for the project has already been defined. "There wont be small changes, but there are no major changes," said the businessmen when specifying the route: Hound Sound Bar (South of Isla del Venado, in Bluefields Bay) - Escondido River - Rama River - Oyate River - Lake Nicaragua - Las Lajas River - Brito River.
Elpueblopresidente.com reports: "This route is the most convenient because it requires less investment costs and smaller soil excavation. In addition, the geological characteristics of the area facilitate this activity. The topography of the land where it is located is relatively flat with an upward slope of 2% in the first 54 km from its beginning on the coast of the Atlantic ".
"I am 100% sure that construction will begin in December 2014 and will end in five years, in 2019," said Jing, adding that "it is very clear to us that Lake Nicaragua is the country's mother lake, a symbol, like the Yellow River is to China. Therefore protection of this lake is the focal point of our feasibility report. "
The businessman explained that the money for the studies for the road has been secured with funds from China, Europe and the USA "Our investors are large banks and other large institutions. These are first class investors," he stressed.]
Close XIn 2012 the country imported $232.5 million worth of fertilizers, a decrease of 6% compared to last year.
Wednesday, July 31, 2013
CentralAmericaData released its fertilizers imports report for 2012 in Costa Rica. Data includes by CIF totals, Average Weight and Prices, Product Description, Importer, Brands, Countries of Origin, Customs and Import Regimes.
Within this sector, imports of mineral or chemical fertilizers were the only ones that experienced an increase in 2012, up 3% compared to 2011.
Meanwhile, imports of mineral or chemical fertilizers containing two or three nutrients recorded the largest decrease, down from more than $8.7 million in imports in 2012 compared with the previous year.
With a reduction of 7%, imports of Mineral fertilizers or nitrogenous chemicals experienced the second largest decline in the sector, going from $108.5 million in 2011 to $101 million in 2012.
The Fertilizer Imports report by CentralAmericaData Costa Rica.com provides a very detailed view of the market for this product. It facilitates analyzing changes in consumption patterns, identifying and monitoring key market participants and studying price trends, among other uses.
Contents of the Report:
- Total CIF value of the period, kilograms and average price.
- Cif value, kilograms and average price according to the Trade Description
- Cif value, kilograms and average price according to the Company Importer
- Cif value, kilograms and average price by Brand
- Cif value, kilograms and average price by Country of Origin
- Cif value, kilograms and average price according to Customs entry point.
- Cif value, kilograms and average price by Import Regime.
To order this report please complete the following form:]
Close XIn contrast to what should be a regional customs union, every Central American border post charges vastly different rates and taxes.
Tuesday, July 30, 2013
We believe that we could even stage regional custom blockades," said the Nicaraguan Marvin Altamirano, president of the American Federation of Chambers of Transportation (Fecatrans).
Central Freight carriers will meet next August to define the measures to be taken against the different fees imposed by various countries in the region.
According to Altamirano, the latest events occurred in March, when Panama wanted to establish a comprehensive review of trucks, and in April, when Nicaragua attempted to charge $15 for each vehicle in order to finance a scanning system. Added to these is the fee that Costa Rica attempted to charge, of $25 per truck and $5 per person, which was to be used to fund improvements at border posts.
Monica Segnini, president of the Costa Rican Chamber of Exporters (Cadexco), explained that the most recent event is the increasing supply of informal cargo services in the region, as well as the practices of transport unions in each country to defend their niche. Segnini added that transporting a container to the region can cost $1,500 and that by using informal services the price is $800.
Close XThis retail sector in Costa Rica comprises about 248 importers of second-hand clothes who are now looking at the middle class market.
Monday, July 29, 2013
Although the prices of items range from $2 to $10, the large volumes handled by big chain stores make it a profitable business. Between 2007-12, used clothing imports rose by 50%, 87% came from the U.S. and 10% from Canada.
Last year alone, 21.7 million pounds of clothes came into the country. "The profitability of the business becomes clearer when you take into account that a 20-foot container, with a capacity to transport up to 44,000 pounds of clothes, has an invoice value on average of between $5000 and $7000, according to statistics from the Ministry of Finance . That same container holds 132,000 garments which could be marketed for as much as $254,000 at weighted price ", reported Elfinancierocr.com.
"This business is like food. It will never go away because it involves goods that people will always need, even in times of crisis," said Luis Rojas, co-owner of the American clothing importer Mavi.
For Rodolfo Molina, president of the Costa Rican Textile Chamber, these businesses compete unfairly with those who bring new clothes into the country and local manufacturers, as the law does not requires them to label their products with indications such as place of origin and manufacture, which means an additional cost for the other sectors.
Close XReal estate projects in Costa Rica face a tough time expanding due to lack of drinking water in several areas of the country.
Monday, July 29, 2013
Projects developed in cantons such as Escazu or Santa Ana and Mora are being affected by this problem, where local permits for the expansion of properties are held in limbo. "In Guayabo there was interest in the possibility of doing some kind of social project for the people of that Canton, but we've run into the problem of lack of water and the value of the land which is creating a problem with the housing issue ... " said the Mayor of Mora Gilberto Monge.
Another example of water shortages is in Perez Zeledon, where at the moment building permits are frozen. According to the mayor, Vera Corrales, the efforts being made center around buying land where springs are located which provide the lifeblood for various wells which supply most of the districts that are not yet suffering from a critical water shortage.
According to the director of the National Union of Local Governments (UNGL), Leonardo Campos, "municipalities are interested in this, there are some that are more able than others to carry out this task in order to grow, some have more resources than others, but in many cases the political will and the will of those territories in having orderly growth is at odds with institutions who are not aligned with that goal. "
He said the water problem threatens the development of the cantons therefore the problem should be studied in the context of land use in order to direct efforts towards productive growth and housing in these places.
Close XThe demand for housing solutions and commercial spaces in downtown San Jose has led the cost of land per square meter to rise to $1,200.
Monday, July 29, 2013
Nacion.com reports: "Mata Redonda, Merced, Catedral, Hospital and El Carmen have in the last three years represented half of the total square meters (sqm) for which there are applications for building permits. In this area, construction of houses and stores has the most dynamism ... ".
The price increase is due, according to the businessmen, to a repopulation process initiated by the Municipality of San Jose through the promotion of high rise construction. According to the Chamber of Construction (CCC), the houses that were built in those five districts represented 40% of all those built in the county in 2012, the cost per square meter ranges from $270 to $850, and can even reach $1,200.
"The concept of pedestrian communities has made places like Rohrmoser, La Sabana, Barrio Escalante, Los Yoses, Barrio Dent and the center of San Jose become attractive," said Edgar Santamaria, regional director of Century 21 Central.
Moreover, the five districts grouped above represent 50% of the 158,605 m² of new commercial buildings in the county in 2012. Most of these properties are rented, with prices ranging from $60 to $95 per sqm per month. "The boulevards generated increased pedestrian traffic, which has led to a rise in prices," said Danny Quiros, intelligence manager at Colliers Costa Rica.
Close XPanama, Belize and Nicaragua are competing with Costa Rica and Mexico in trying to attract retirees from the U.S. and Canada.
Friday, July 26, 2013
All of these countries are offering residency packages and tax exemptions at rates similar to those granted by Costa Rica. For example, in Nicaragua there is a law which provides advantages for retirees on items ranging from cars to building materials. In the case of Panama, there is a program which has reduced the requirements to invest in property, businesses and other endeavors. "The message of this law is simple. "It is 'Come to Panama'" said lawyer Manoj Chatlani .
Laprensa.hn reports: "New luxury complexes, equipped with spas, restaurants, marinas and golf courses, are spreading. Developers say they are using more materials that add quality and luxury which is designed to appeal to buyers with high purchasing power. "
The number of Americans receiving pension payments in Panama has increased by 65%, as 2,164 new people between 2006-11, while in Nicaragua it went from 595 to 1322 people. However, these figures fall short when compared to Mexico and Costa Rica, where more than 50,000 Americans received their pension payments in Mexico and 5,000 do so in Costa Rica.
In Belize, where developers are trying to promote the country as a place for retirees to live in luxury, they are currently building a complex which will hold 2,000 residential plots, 250 condominiums and townhouses and a marina with capacity for up to 250 boats
Close XDespite a direct order from the president, Costa Rican ministerial bureaucracy is still blocking a system which looks to eliminate corruption in public procurements.
Friday, July 26, 2013
The Ministry of Finance has not yet signed the decree establishing the mandatory use of Mer-Link in procurement processes, which could delay its implementation in January 2014.
Nacion.com reports: "Although the first version of the decree was received by the Ministry of Finance on 6 June, it has yet to be signed, a fact which will delay implementation of the system, according to the director of the Digital Government, Alicia Avendaño".
José Luis Araya, Minister of Finance said the decree has not been signed because it must be verified that Mer-Link meets all the requirements of the Financial Administration Act and that institutions will integrate it once it has validated the platform and ensured there will be a constant and effective service.
The National Roads Authority (Conavi) is the first institution which will have to use the single procurement system, however, a week ago it conducted two public procurements using Mer-Link which were criticized by the Ministry of Finance as it has not yet been given permission to do so.
Close XThe Municipality of Jalapa is putting out to tender the purchase of power and electricity for Empresa Eléctrica Municipal de Jalapa.
Friday, July 26, 2013
EEM-JAL-L001-2013 purchase of power and electricity at social and non-social tariffs for Empresas Eléctrica Municipal de Jalapa"
13,461,781 KWH POTENTIAL ENERGY DEMAND NON SOCIAL RATE
16,504,104 KWH POTENTIAL ENERGY DEMAND FOR SOCIAL RATE
The deadline for submission of bids is September 3, 2013.
Close XThe heavy bureaucracy present in Central American governments is obstructing the transport of goods, adding to regional trade costs.
Wednesday, July 24, 2013
In Guatemala, for example, the inefficiency in resolving issues and easily implementing procedures is self evident, as currently there are open files against 36,000 carriers, "something that no one can update, because of how cumbersome it would be to update this documentation , but the worst thing is that many of these records were wrongly documented because they correspond to breaches by vehicles which later went out of circulation ... " noted an editorial published by Prensalibre.com.
Carriers have spent more than a year negotiating with governments to work more freely, but their concerns seem to have gone unheard because they are still waiting for solutions, a situation which has led them to take action to stop governments from hindering their work, "when it would be much more worthwhile to speed up the resolution of these cases, unifying criteria and allowing trade to recover its dynamism".]
Close XFor every ton of tuna caught in its maritime territory and sold in other countries at prices of between $6,000 and $10,000, Costa Rica earns only $37.
Wednesday, July 24, 2013
An article in Nacion.com reports that "Between 2002 and 2011, 259,180 tons of tuna were caught in the Exclusive Economic Zone (EEZ) of Costa Rica. 85% of that tuna was unloaded in seven countries, with Ecuador receiving 51 % of the landings, being the main recipient, while in Costa Rica only 15% was unloaded. "
"... In the international market, every ton of tuna processed as canned product is priced at $2,800 (¢1,411,200), and if that ton is sold as fresh product it can be worth between $6,000 and $10,000 (between ¢3,024 000 and ¢5,040,000). "
Through fishing licenses, "in the period between 2008 and 2011, the country saw an average income of $37 (¢18,648) per ton of tuna extracted."]
Close XThe plan is to invest $100 million in a large reservoir that would supply water to more than 350 thousand people.
Wednesday, July 24, 2013
The project would be located "in about 21 farms that are currently devoted to livestock, as the land is not very fertile for agriculture, by contrast, they are very calcígenos and have a block of stone under the surface which would facilitate water not leaking away", reported Prensalibre.cr.
"They will be summers where the supply from wells will not be enough. Therefore it is important to have a map of the surface waters in the country. In Guanacaste we are trying to build a large dam-water reservoir which will allow us to store about 80 million cubic meters in the canton of Bagaces, to have another option. Not only for irrigation but also for drinking water in the driest part of the country," explained the the general manager of the National Groundwater, Irrigation and Drainage Service (Senara), Bernal Soto.
Close XThe World Trade Report 2013 focuses on trade as cause and effect of the change, and examines the factors shaping the future of global trade.
Friday, July 19, 2013
The world is changing extremely rapidly under the influence of many factors, among which are changing patterns in production and consumption, constant technological innovation, new forms of trade and obviously political policy.
One of the main drivers of change is technology. Although the revolution in transport and communications has transformed the world we live in, new breakthroughs such as 3D printing and the continued expansion of information technology will continue to shape it. Trade and foreign direct investment, along with the geographic extent of the growth of income and opportunities, is allowing an increasing number of countries to become integrated into a network of more extensive international exchanges. The increase in income and population will put further pressure on resources, both renewable and nonrenewable, which will force them to be managed more prudently. Environmental issues also require increasing attention.
Economic and political institutions, as well as the interaction between the cultures in different countries, are helping to shape international cooperation, including in the field of trade. The future of trade will also depend on the efficiency with which political measures are able to respond to the ever more present issues regarding social matters, such as persistent unemployment and income inequality. These and other factors are discussed in the World Trade Report 2013.
Close XCementos Progreso has announced an investment of $720 million in the construction of the San Gabriel plant with capacity of 2.3 million tons per year.
Friday, July 19, 2013
Adding this to the capacity of the San Miguel plant, located in Sanarate, El Progreso, the company will be able to offer the market five million tons of product every year", reported Prensalibre.com.
Pliny Herrera, spokesman for the cement company, said that the new plant is to be built in the farm San Gabriel Buena Vista, in San Juan Sacatepequez, and will have an installed capacity for annual production of 2.3 million tons.
The plant will have an area of â??â??64 hectares and its construction will be completed in 2016. Furthermore, Cementos Progreso will build a 14-kilometer road to be ready in a year.
Old news
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LUIS MIGUEL HERRERA C.
luis.herrera@nacion.com
12:00 A.M. 15/02/2012
Juan Santa Maria Airport was recognised for the second year running as the 3rd best Airport Terminal in Latin America and the Carribean in terms of quality of service.
The recognition was announced in Geneva Switzerland by the Airport Council International (ACI), which surveyed 350,000.00 passengers across the globe. The association covers 1,650 airports in 179 countries.
The Costa Rican Terminal was placed below Cancun, Mexico and Guayaquil Equador, placed 1st and 2nd respectively.
Rafael Mencia, the new Executive Director of AERIS, the operator of Juan Santamaria was informed of the results yesterday.
“This award is an opportunity to celebrate the teamwork between the Costa Rican Authorities and AERIS. It helps us to prioritize improvement projects for the airport and validate new investments” stated Mencia.
3 million passengers passed through the Juan Santamaria installations in 2011.
AERIS has invested $40 million in the modernization of the terminal.
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The Chinese are in third place in terms of expenditure on travel, just behind the United States and Germany. By 2015 they will be in second place.
Tuesday, November 8, 2011
According to the latest Global Trends Report, spending on accommodation by Chinese tourists in 2011 will amount to around $57 billion, ranking them third behind the Americans and Germans.
By 2015 the volume of expenditure is expected to increase by17%, to $67 billion.
According to an article on Spanish.china.org.cn "The research, developed in collaboration with Euromonitor International, indicates that some global hotel chains are partnering with Chinese companies in order to gain a good position in the domestic Chinese market, while others are adapting their product to suit the tastes of Asian customers.
'The companies will use their experience in the Chinese domestic market to improve their activities abroad, in key destinations for Chinese tourists’, said the report"
Data from World Travel and Tourism ranks China as the third largest source of tourists in the world.
Close XThe municipality of Sonsonate has issued a tender for the construction of the Megaplaza Mall.
Tuesday, November 8, 2011
The mall will be built on an area covering approximately five blocks and will house informal vendors currently trading on the streets.
Among the works to be performed will be the construction of walkways, areas for basket-makers, food courts, car parks and a police station.
Close XIt is estimated that the current government will have accrued $3 billion by the end of its term, an increase of 140% compared to the previous administration..
Tuesday, November 8, 2011.
The arrival of companies interested in investing in the country has continued, even during the election process.
On the weekend of the presidential elections, two large companies, one interested in investing in the tourism sector and one in the food industry, toured the city while the population was in the process of voting.
If finalized, these investments will bring between $30 and $40 million into the country in the way of direct foreign investment, which has shown a significant increase in recent years.
Over the next five years the government hopes to reach a total of $5 billion, and representatives of investment promotion agency, ProNicaragua, are optimistic about the achievement of the goal.
However, experts believe the role the government plays in relation to the main players in the private sector is essential.
As reported on Elnuevodiario.com.ni, the economist and development expert Cirilo Otero, believes that "in order to maintain growth indicators, such as foreign investment, the government needs to be communicative.
"In the last five years we had have had a government speaking only for itself, centralizing everything and not reporting as it should. I hope this changes, especially in the next five years, because if it doesn’t we will just have more of the same", he said."
Close XThe Social Security Institute (IGSS) has issued a tender for a consultancy to prepare an Infrastructure Master Plan.
Monday, November 7, 2011
International recruitment will be done through the United Nations Office for Project Services (UNOPS), funded by the IGSS.
The required services include diagnostic studies of the current situation in IGSS facilities nationwide, the medical services rendered, studies of supply and demand, the most common diseases affecting users in each region, up to and including the implementation of the Master plan.
This vision will contain short, medium and long term goals, and will identify and prioritize interventions. As part of the contract, the interventions, once identified, should be translated into investment projects and therefore, the consultant will develop the profiles which will form the basis of pre-investment studies (where appropriate) and in the short term will do feasibility studies of each, ready for implementation.
Close XWith an investment of $22 million, a new highway on the South Atlantic coast will be funded by a grant from the Japanese government.
Monday, November 7, 2011
After more than five decades the people of Bluefields will finally see the construction of a road which will connect them with Nueva Guinea.
The construction will be managed by the Ministry of Transportation and Infrastructure. Authorities from the Ministry noted that Japan is one of the few countries that provides financial assistance without imposing political conditions, the only stipulation being that they demand transparency in the management of the funds.
It is expected that the construction of the road, which will last two years, will generate new jobs and streamline trade between the two locations.
An article on Elnuevodiario.com.ni states: "This road will pass through the area known as Suampa de Lara, a wetland protected by the Ramsar Convention, which seeks to preserve this kind of natural resource. Tributaries from at least three rivers converge at this location just south of Bluefields, creating a natural ecological lagoon. "
Close X The company Albanisa will invest in the development of four power generation projects over the next four years.
Friday, November 4, 2011
These projects will provide about 250 megawatts of renewable energy.
The Venezuelan-Nicaraguan firm has already been granted permission to conduct feasibility studies to develop two projects for power generation using biofuel.
"It is also conducting feasibility studies in the Rivas area, where it has already built the wind farm Alba Vientos, which will have an estimated production capacity of 80 megawatts, provided by two 40 megawatt plants, and which will begin operations in September 2012. This required an investment of $90 million", according to an article on Elnuevodiario.com.ni.
Close XThe Legislature has approved a loan to finance the implementation of the "San Salvador Metropolitan Area Transport Program."
Friday, November 4, 2011
These financial resources have been provided with the aim of improving public transportation and transit for passengers in the metropolitan area of San Salvador, with at its core, the implementation of a mass transit system of articulated buses in designated preferential lanes. This will offer the opportunity of sustainable mobility to every user, especially those of limited means, and will provide a safe and modern transportation system to strengthen the economic and social development of the area.
According to the Vice Minister of Transportation, one of the main routes which is being considered for the articulated buses is the route connecting Soyapango with Plaza Salvador del Mundo, a distance of approximately 7.2 miles.
Close XThe French government has donated resources to analyze the feasibility of building a tram line about 5 km from the Costa Rican capital.
Friday, November 4, 2011
The project aims to ease traffic congestion in the capital, where hundreds buses and cars come in daily, generating a high level of pollution.
The municipality of San Jose estimates that the study will be conducted in four months, and if approval to proceed is granted, construction would begin a month later.
An article on prensalibre.cr states: "Many define it as a train in the middle of the street, but in fact this tram would use one of the road lanes to make its journey. It will have three cars, and as yet the frequency has not been defined as it will be dictated by the feasibility study.
"The tram cars will have a capacity to transport between 250 and 300 people so they would be carrying a large percentage of people entering the capital," said City Mayor Johnny Araya. "
Close XAcciona Energía will construct and operate the 49.5 MW wind power plant in Chiripa, north west Costa Rica.
Thursday, November 3, 2011
The energy company was awarded the contract as a result of an invitation to tender held by Costa Rica's state-owned electricity and telecommunications provider (ICE).
Acciona Energía will sell the energy produced by the wind power plant to ICE for a period of 20 years as part of a Power Purchase Agreement (PPA). Once the 20 years have passed ownership will pass to ICE, in accordance with the build, operate and transfer (BOT) formula.
The plant will comprise 33 wind turbines, each with capacity to generate 1.5 MW.
An Acciona Energía press release states that it will invest $125 million in the design, construction and operation of the Chiripa wind farm, which will be located near the town of Tilarán in the province of Guanacaste.
Close XAn economic coalition has been set up to promote investment and create jobs in the country's old capital of Cartago.
Thursday, November 3, 2011
The over-supply of office space in the west of the Costa Rican capital has led to increased growth in the east where it is becoming more and more common to see new real estate developments such as offices and malls.
This backdrop has led the region's main university, in partnership with the chamber of commerce and the administrative board of the regional electricity supplier (Jasec in Spanish), to create the Cartago Special Economic Zone. They hope this will encourage investment.
One of the coalition's main projects already underway is the creation of a new industrial park with capacity for 5,000 new jobs. The park could get the go-ahead soon if negotiations with a group of national and international investors are successful.
Close XKorean owned SAE International has announced it plans to close one its five factories in Guatemala due to a mix of poor sales to the USA and high Guatemalan labor costs.
Tuesday, November 1, 2011
The country's Economy Minister, Luis Velázquez, announced the closure of the plant saying that the company will be opening a new factory in Haiti where it will look to hire 20,000 people.
"Rubén Darío Narciso, analyst from the Guatemala's Association for Research and Social Studies (ASIES in Spanish), commented that closures are serious blows to the country's economy since they are a major source of investment and employment," reports Prensalibre.com.
The analyst believes that the country should invest in security, infrastructure and education so that country can be more competitive
Close XEthan Allen Interiors has acquired a 164 thousand square foot manufacturing plant in Honduras.
Monday, October 31, 2011
The US–based company has decided to supplement its existing operations in Vermont, New Jersey, North Carolina and Mexico with the opening of a new factory in Honduras, which will supply the subsidiaries.
The company made the decision to invest in Honduras with the support of the country’s investment promotion agency, which helped the company in the process of evaluating the country as an investment destination.
An article on elheraldo.hn reads: "Ethan Allen Interiors Inc. is a leader in interior design and a quality furniture manufacturer and retailer.
Ethan Allen offers free interior design to its customers and sells a wide range of furniture and decorative accessories through www.ethanallen.com, as well as through a network of nearly 300 Design Centers in the United States.
Close XAccording to a study by Tetra Pak, comparing 2005 to the present day, 30% more consumers are making their purchasing choices based on the impact that the packaging may have on the environment.
Friday, October 28, 2011
The study shows a global preference for green packaging.
Consumers around the world are increasingly taking measures to protect the environment through recycling programs and environmentally responsible consumer awareness, reveals the latest Environmental Research Study 2011, developed by Tetra Pak.
The same study shows a steady increase in five types of environmental behaviors among the five trend-setting markets in the world: Brazil, China, France, Germany and the United States, monitored from 2005 to the present. These behaviors include recycling food and beverage containers and avoiding certain products for environmental reasons, among other things.
The study highlights that in the last 12 months, nearly 70% of consumers said they educate themselves on environmental issues before shopping, well above the 40% recorded in 2005. In a similar vein, over 50% said they refuse to buy certain containers for environmental reasons, while in 2005 this figure was less than 30%.
Collecting and classifying food and beverage containers for recycling was the most common green activity among the consumers surveyed, which went from less than 70% in 2007 to almost 90% in 2011.
Close XDuring 2008-2009 crisis, wine imports fell to less than $14 million, before peaking at $15 million in 2010, and then continued to increase during 2011, with $9 million being recorded in the first half of the year.
Friday, October 28, 2011
An increase in the consumption of wine originating mainly from Chile, Argentina, Spain and Italy, has prompted the emergence of specialist shops with a wide range of products, from glasses and decanters to literature on the subject.
"Ignacio Soto, manager of the Wine Portfolio at Haycom Bebidas del Mundo, said that after the financial crisis, Costa Ricans 'are again drinking wines that come from more affordable and accessible sources, such as South America, specifically Chile, which offers excellent value for money", reported Nacion.com.
Close XIn the first six months of 2011, Panama received $1,426 million, 17% more than in the first half of 2010. Costa Rica received $1.057 million (+45%), Honduras $486 million (+15%), Guatemala $485 million (+54%), El Salvador $376 million (+1404%), and Nicaragua $284 million (+30%).
Wednesday, October 26, 2011
A report by the Economic Commission for Latin America and the Caribbean (ECLAC), confirms the upward trend in foreign direct investment (FDI) which has been recorded since 2010, for all of Latin America and the Caribbean.
According to the agency, the FDI of 18 economies in the region increased by 54% during the first half of 2011 compared to the same period in 2010. In contrast, the region has shown a sharp drop in investment abroad, which had a negative balance in the first half of the year.
ECLAC estimates that by the end of 2011, FDI inflows will show very positive results, which could mean a new record, confirming estimates made in May.
With regard to Central America, the report states that all countries in the sub region recorded significant increases, with Costa Rica and Panama being the main recipients of FDI in the subregion.
"The current investment flows confirm the good performance of Latin American and Caribbean economies, despite the turbulent economic scenario. In terms of FDI our message to these countries has been - and we now repeat emphatically - take advantage of these revenue policies for productive development and innovation", said ECLAC Executive Secretary Alicia Barcena.
Close XOn 8th November, a tender for a new wind power plant, to be developed in the central provinces, will be launched.
Tuesday, October 25, 2011
The announcement was made by the National Secretary of Energy, Juan Manuel Urriola, at the opening of the IV Regional Integration Forum .
In addition, the strong winds in some areas of the country will be tapped by building the first wind project in the country, the tender process for which will start on November 8th.
An article in Prensa.com notes: "In the forum it was also reported that the electrical interconnection of Panama and Colombia is drawing closer, a project being jointly worked on by the Electric Transmission Company, Inc. (Etesa) and Interconnection Electric SA (ISA).
Etesa and Isa are the two companies responsible for carrying out the electrical interconnection project between Panama and Colombia. A direct current line of 600 kilometers, between the substations Cerromatoso in Colombia, and Panama II, in Panama, having an energy transmission capacity of 600 megawatts. "
Close XThe XV Latin American Conference on Free Zones will discuss the challenges and opportunities they face, especially from 2015 when the WTO requires the elimination of export tax incentives.
Monday, October 24, 2011
The "XV Latin American Conference on Free Zones" will take place from 26th to 28th October this year at the Hotel Casa Santo Domingo, Antigua Guatemala, Guatemala.
A statement by the Association of Free Zones in the Americas reads:
The Association of Free Zones in the Americas, its counterpart in the host country and the Ministry of Economy of Guatemala, have organized a platform to discuss the decline being experienced in the global economic environment after the economic crisis and the great opportunities that have opened up for businesses in emerging economies, including Latin America, which is setting an example to the world.
This renewed interest in the region, has encouraged us to offer up this meeting point for entrepreneurs who produce goods and services on our continent to share their knowledge with renowned experts and speakers from America, Europe and Asia, regarding the latest trends, challenges and changing perspectives on trade and open markets, with emphasis on China, India, Africa, and the USA, among others.
Around 400 participants are expected to attend from some 25 countries. Also taking part will be authorities responsible for promoting investment, trade and employment in different countries.
Close XLatin America is barely ahead of Africa in quality standards and conditions affecting local businesses.
Thursday, October 20, 2011
As a region, Central America, is located in the second half of the list entitled ‘Doing Business 2012’.
Doing Business 2012, a report by the World Bank this year added a new area of analysis, which is the ease of obtaining an electrical connection, along with the traditional items which include: ease of starting a business, management of construction permits, registering property , getting credit, protecting investors, paying taxes, cross border trade, enforcing contracts, and insolvency resolution.
In the list of 183 economies analyzed, Chile, in 39th place, is the best positioned Latin American country. Within Central America, Panama continues to be the "least bad" and is ranked 61st in the overall list, followed distantly by Guatemala, which is ranked 97th, El Salvador 112th, Nicaragua 118th, Costa Rica 121st, and Honduras 128th.
The Doing Business report indicators are used to analyze the results of an economy, and to identify where governments should apply their efforts in order to facilitate business activities and thus stimulate economic growth.
Close XWithout disclosing the name of the company, the Ministry of Energy and Mines has announced that they have awarded a contract for exploration and exploitation of oil in Petén.
Wednesday, October 19, 2011
The Minister of that department, Alfredo Pokus, noted that they won't reveal the name of the contractor until the company itself has been notified.
Minister of Energy and Mines, Alfredo Pokus, said yesterday that it has awarded a contract for exploration and exploitation of oil Petén area 1-2008, but the name of the company will not be officially revealed until the parties have been notified", reported Prensalibre.com
Industry sources said unofficially that of the two companies who submitted bids, City Peten and Perenco, the contract was awarded to City Petén
Close XIn the first six months of the year trade between countries in the region increased by 21.8%.
Tuesday, October 18, 2011
Data from the Central American Economic Integration Secretariat (SIEC in Spanish) shows that total exports across the isthmus in that period amounted to $14,645 million.
"Regarding imports, the region purchased goods and services amounting to $26,159 million in the first half of this year, 22.8% more than in 2010, according to SIEC
The data also reveals that trade in Central America showed significant dynamism in the first half of this year, regarding both imports and exports, producing a rise in trade amounting to $40,804 million", noted an article in elsalvador.com.
Honduras increased by 16.1%, Costa Rica 35.6%. El Salvador 14.4% , Guatemala 25.6%, and Nicaragua 8.3%.
Close XIn Costa Rica, pressure from employers to maintain tax exemptions in free zones is increasing.
Thursday, October 13, 2011
According to an article in Elfinancierocr.com at a meeting of a group of businessmen which included the main force behind the increase in taxes in the free zones, the former presidential candidate Otton Solis, there were no positive results, and the same outcome was seen at a meeting held with the full bench of the Citizen Action Party, of which Solis is the leader.
A steady stream of statements by various representatives of foreign companies with investments in the country, especially in zones, continues to be issued, referring to the possible negative consequences if the tax package, as it is currently drafted, is approved .
Deloitte has produced a report which examines what the likely economic impact on companies operating under the free zone regime will be if the tax bill is approved.
Costa Rica: Household Spending Continues to Grow
Close XBetween January and July the Gross Domestic Product (GDP) grew by 3.8% compared to the same period in 2010.
Wednesday, October 12, 2011
According to a report by Aldesa :
In terms of components, final household spending remains strong, growing by 4.8% in the indicated period and keeping in line with the expectations of the Central Bank of Costa Rica (BCCR), which estimates that domestic demand this year will be main driver of economic activity.
General government expenditure shows a downward trend in the rate of growth, increasing at a rate of 2.3% between semesters. Compared to the cumulated 12 month amount, there is a downward trend in public spending from the high reached in 2009.
Meanwhile, service exports maintained growth rates of 3.8%, however, imports of goods showed the largest growth area, climbing by 6.3% between semesters and 5.5% in the last twelve months .
The strong growth of imports, despite cuts in GDP growth, is not a cause for concern, since according to data from balance of payments the national deficit is being funded entirely by revenues from foreign direct investment.
Close XThe Foreign Trade Promoter has revealed in a study the benefits that free trade zones contribute to the country, including the 58 thousand jobs that pay 60% above the average private sector salary.
Tuesday, October 11, 2011
From a press release by PROCOMER:
A study by PROCOMER reveals the benefits of free zones in Costa Rica:
- Companies under this regime have become a source of employment for 58,000 Costa Ricans whose wages are 60% higher (1.6 times) than the average national wage in the private sector.
- These companies bought more than U.S. $1080 million into the local market in 2010.
For every dollar exonerated, the 256 active companies in the Free Zone Regime have created for the country $ 8. These companies employ a staff of 58.000 thousand people in direct jobs and about 110,000 indirect jobs. Additionally, firms generated 45% of exports of goods, 32% of exports of services in the country and bought into the local market goods and services valued at U.S. $1,080 million. These figures are just a few of those from the most recent study by the Foreign Trade Promoter (PROCOMER) entitled: "Balance of Free Zones: net profit of the regime to Costa Rica from 2006 to 2010" (www.procomer.com) .
The investigation which has been consistently conducted by PROCOMER since 2006, was presented this morning at the Hotel San José Palacio to more than 250 people. The activity organized by PROCOMER, the Costa Rican Coalition for Development Initiatives (CINDE) and the Association of Free Zones of Costa Rica (Azofra), included discussions panels in which technical experts, chambers, businessmen, mayors and legislators discussed the impact and the importance of the Free Trade Zone (RZF) to the country's development and their relevance as an instrument for attracting foreign direct investment (FDI).
Close XThe Government is negotiating a soft loan with China in order to widen the highway between Rio Frio and Limon to four lanes.
Tuesday, October 11, 2011
The Chinchilla administration has been trying to get a donation from the Chinese government to build the project since August last year.
An increase in the cost of the project from the initial $221 million to $420 million, has forced the Costa Rican government to negotiate a long-term soft loan.
Francisco Jiménez, Minister of Public Works and Transport, added to Nacion.com, "...the additional works which have caused the rise in costs are necessary to offer users better traffic conditions and safety.
For example, the 14 overpasses, which may include tunnels and bridges, will enable residents of Guácimo, Pococí and Siquirres to cross from one side of the road to the other."
Other additional works included in the enhanced plan made by the National Roads Authority are building a bike path, bus bays, pedestrian bridges and a central divider
Close XThe National Highway Council has put out to tender for the construction of 18 bridges on National Highway No. 1, the North American Highway.
Monday, October 10, 2011
The purpose of the tender is to contract out the projects and the execution of the corresponding works on the North American Road, Section Cañas - Liberia, National RouteNo. 1 which includes:
a) Construction of 18 new bridges, of 2 (two) lanes each
b) Strengthening, widening, renovation or reconstruction of the 18 existing bridges as appropriate in accordance with the specifications of the "Works Requirements." For the purpose of ending up with two independent bridges, thus providing space for four lanes of traffic (two lanes in each direction)
These bridges are grouped in 18 lines to be quoted for separately, and may be awarded separately according to the criteria set out in Section III of the specifications.
Close XLaura Chinchilla, Costa Rica's president, has defended the political pact that will allow the approval of a tax package that includes tax increases in the zones.
Thursday, October 6, 2011
The president defended her new tax reform plan despite strong opposition from the Ministry of Foreign Trade.
Anabel González, Minister of Foreign Trade, said these measures could affect the attraction of foreign investment into the country.
La Prensa Libre reported on its website statements by President Laura Chinchilla, "... the inclusion of the issue of free zones (in the fiscal plan) was not an addition suggested by the government ... it was the result of negotiations with the PAC ... the government accepted the suggestion by the PAC because, although legal security is fundamental in all that relates to attracting investment, when assessing the scenarios we feel that much more serious problems than what can happen in the medium term with a climate of macroeconomic instability, are foreseen for Costa Rica if they the fiscal problem is not resolved. "
Close XIn September, prices fell by 0.16%, according to the National Institute of Statistics.
Wednesday, October 5, 2011
According to a report by Aldesa :
On a cumulative basis, consumer prices have risen by 3.23% so far this year. Food, clothing and transportation were the items that contributed the most to the lower figures seen in the index for September.
So far this year the item that has seen the largest increase continues to be transportation with 8.43%.However, considering the precipitous decline in oil prices worldwide and poor global economic growth expectations, we do not foresee, in the absence of geopolitical conflicts, an escalation in fuel prices of the same magnitude as that observed in the first quarter of this year.
Similarly, prices of commodities, both metals and agricultural products peaked during the first half of the year. From that point on, commodity prices have been falling in price in the face of less demand due to lower growth expectations.
At the national level it is expected that pressure on production costs will be lowered, a result of lower international inflationary pressures, so it is expected that at the end of the year inflation will be within the range established by the Central Bank.
In addition, the Central Bank has been very rigorous in managing liquidity in the national system in colons, letting it to progress to 1.5% this year.
Close XThe BCIE has approved $340 million loan to the National Highway Council (CONAVI) in Costa Rica to boost its program ‘Strategic Highway Infrastructure Works’.
Wednesday, September 28, 2011
A press release of the Central American Bank for Economic Integration (BCIE) reads:
The Central American Bank for Economic Integration (BCIE) has approved a $340 million loan to the National Highway Council (CONAVI) in Costa Rica to boost the ‘Strategic Highway Infrastructure Works’ program'.
The resources provided by the BCIE will be used to improve the status and capacity of the road network and its strategic bridges allowing the efficient economical and safe for transfer ofpeople and goods, reducing traffic congestion in the metropolitan area of San Jose and improving the main transit corridors for imports and exports in the Atlantic region, thereby enhancing competitiveness.
This plan is linked to the pre-investment cooperation policies, in line with the framework for competitiveness of the BCIE Corporate Strategy 2010-2014, as it relates to the promotion of infrastructure initiatives to support the economic activity of countries
Close XAt the opening of Cerro de Hula wind project in Honduras, the director of Mesoamérica Energy announced their willingness to invest in an additional 25 megawatts.
Wednesday, September 28, 2011
Mesoamerica Energy's director, Jay Gallegos told the press, "We have built about 80 percent this project, it is the largest in Central America and we want to invest in an additional 25 megawatts, which is an increase of one quarter."
He added that the investment has reached $285 million and the company intends to recover it over the next twenty years, which is the term of the concession.
An article in Laribuna.hn quotes the executive as saying: "The best part is that the fuel to operate the energy generation is free, as it is in the substation built to interconnect with the system of ENEE, which will belong to the Honduran state."
Close XThe Electric Transmission Company (ETSA) has published its first tender for the supply of wind power between 2014 and 2028.
Friday, September 23, 2011
Under the terms of the tender, bidders must submit proposals based on an equivalent energy power, according to the following table (the same for each year):
January - 61.63 GWh - 119MW
February - 56.11 GWh - 121MW
March - 59.46 GWh - 114MW
April - 39.16 GWh - 80MW
May - 27.9 GWh - 54MW
June - 1147 GWh - 24MW
July - 17.10 GWh - 34MW
August - 15.70 GWh - 33MW
September - 1750 GWh - 36MW
October - 1614 GWh - 32MW
November - 24.88 GWh - 53MW
December - 47.75 GWh - 96MW
Energy will be distributed by EDEMET, EDECHI and ENSA, while the manager of the tender will ETESA.
Close XIn the first eight months of the year a trade deficit of $3,724 million has been accumulated, which is 49% higher than in the same period in 2010.
Thursday, September 22, 2011
According to data published by the Central Bank of Costa Rica, from January to August, exports totaled $6,783 million compared to $10,507 million in imports.
"The increase in imports has been influenced by fuel purchases which have also increased in the first seven months of the year, being 60% more than in the same period last year, affected by the rise in international oil prices", reported Nacion.com
The article also highlighted an increase of 25% in imports of building materials.
Close XWith the economy slowing down demand for electricity in Costa Rica will no longer increase, as was expected, and the prospect of supply deficit has gone away.
Monday, September 12, 2011
The Instituto Costarricense de Electricidad (ICE) has revised downwards the projected increase in electricity consumption for the coming years, which temporarily removes pressure on any new generating plants.
The reduction in expected growth in electricity consumption also taken away the urgency for the adoption of the draft "Contingency Power Act," which was sent to Congress and market urgent.
In an article in Elfinancierocr.com Eugenia Soto Morales, reported that "During the years of prosperity and economic growth racing at the speed of an outboard motor, the projections for demand in electricity made by the ICE have made more than one person sweat.
However, real consumption has been falling far short of expectations. In 2009 consumption reached 9253 gigawatt hours (GWh), less than the projected 9359GWh. History then repeated itself in 2010.
Given this trend, the ICE has reduced by 10% its original projection for demand for this year from 10,484 GWh estimated in 2009 to 11,152 GWh today.
This slower growth rate is delaying the moment when electricity demand comes dangerously close to the installed capacity of 2,670 MW of generation available to the country.
"In May 2009, predictions were made that demand would reach 12,900 GWh in 2014 and exceed 14,000 in 2016. However, according to the revisions made this year, these levels of demand are not expected to be seen for a further three years", said Gilbert de la Cruz, from ICE Power Planning."
Close X Trade with China and the Asian giant's investment in Latin America are showing negative aspects that call for reflection.
Friday, September 9, 2011
Discontent among Central American exporters and entrepreneurs with the business relationship is becoming increasingly common. Among the negative aspects cited is the fact that the Asian country only ever purchases raw materials from the region, refusing to buy manufactured products. Another aspect that has been highlighted is the use of questionable business practices by Chinese companies in the region.
Andres Oppenheimer writes in his column in Elnuevoherald.com, "A recent column by former Brazilian diplomat Rubens Barbosa published in the newspaper O Estado de Sao Paulo, says that along with increased trade and investment, Chinese companies are bringing to developing countries 'a culture-of ‘anything goes’, including physical violence in labor relations. "
Citing an article in The Economist on Chinese investment in Africa, Barbosa said that China 'is destroying parks and forests in search of minerals and agricultural resources, and violating the most rudimentary safety rules. Roads and hospitals built by the Chinese are poorly finished, due to, among other things, their construction companies bribing local officials. "
Close XOn 9 September 2010, Moody's raised Costa Rica’s sovereign credit rating from Ba1, speculative grade, to Baa3 investment grade rating with a stable outlook.
Friday, September 9, 2011
An analysis of the issue by Aldesa follows:
The agency acknowledged, among other things, a stronger national economy in the face of external shocks, a healthy position in terms of net international reserves, stability in foreign direct investment flows and a willingness to responsibly manage the fiscal deficit during the coming years.
As a result, external bond debt, maturing in 2020 (Bde20) increased in price in international markets, in order to align the awards Costa Rica paid on 10 years certificates with the award paid by similar countries.
The award paid out by this bond (extra yield compared to 10 year bonds from the U.S.) went from 2.26% to 1.75%, which corresponded to a price increase of 138.3 to 142.9 and that means the cost of financing or borrowing declined due to improved rating as a debtor country
Close XPanama leads in Central America (49th in the global list), followed by Costa Rica (61), Guatemala (84), Honduras (86), El Salvador (91), and Nicaragua (115).
Thursday, September 8, 2011
Chile (position 31), Puerto Rico (position 35), Barbados (position 42) and Panama (position 49) are the only four economies in Latin America and the Caribbean ranked among the top 50 in the World Economic Forum’s Global Competitiveness Report 2010 - 2011
Panama is the only country to break into the top 50, coming from position 53 to 49 emphasizing its macroeconomic stability, the ability to absorb technology, development of financial systems, the progress of its infrastructure in ports and air transport and its strengthening of domestic competition.
You can find the full Global Competitiveness Report 2011-2012 at:
http://www3.weforum.org/docs/WEF_GCR_Report_2011-12.pdf
Close XThe Association of Engineers and Architects has questioned the quality of asphalt being used for road maintenance and construction.
Tuesday, September 6, 2011
A report by the Panamanian Association of Engineers and Architects (SPIA), "... suggests that the debatable part of the works being carried is the asphalt coating, which is only 5 centimetres thick", reports Prensa.com
Referring to the multi-lane roads, the report notes the presence of defective joints and a variety of surface textures, "The works are not all of superior quality", said the coordinator of the SPIA Road Committee, Gaston Schatan.
As for the asphalt used, it is the same as 50 years ago, the same mixture and the same preparation procedures.
Close XThe meeting of technical groups from the countries of Central American Integration System (SICA) in El Salvador ended with significant advances
Monday, September 5, 2011
Progress was made in the preparation of some 15 rules of origin and the harmonization of tariffs for different products.
Deputy Minister of Economy of El Salvador, Mario Hernandes, told Reuters, "Decisions made in the technical rounds will be passed up to the technical and deputy ministers of Trade and Economy for approval."
The representative of the Honduran Ministry of Industry and Commerce, Jeronimo Urbina added that because the process is long and complicated it has not been possible yet to set a deadline for the full functioning of the customs union.
Close XAfter an arduous process, the government of Costa Rica has signed a concessionary award to Dutch run APM Terminals for the construction of the port and its management for a period of 30 years.
Wednesday, August 31, 2011
APM Terminal's investment will be $950 million, and they will have a period of 3 years to build a container port in Moin on the Caribbean coast of Costa Rica, north of the existing port facilities.
During the process of awarding the concession, half a dozen appeals and motions have been launched by those who oppose it, especially the union of port workers Sintrajap. Two appeals are still waiting to be heard by the Costa Rican courts. Opposition has also been expressed by the National Chamber of Banana Workers (Canabae), which currently pays $69 per container mobilized, while the rate approved by APM Terminals is $223.
The new port will have two 300 meter loading stations, built on land that will be gained from the sea. The facility should start operations in 2015, when it will be able to receive ships carrying up to 9000 containers.
Currently Costa Rica is ranked 132 on the World Economic Forum's list in terms of port development. This is the penultimate position in Latin America and the last in Central America. With the new port service the country could move up to number 56 on the list.
Close XThe National Authority of Public Services, has granted a provisional license to Innovent Central America SA to operate the El Portrero wind farm, for generating electricity.
Monday, August 29, 2011
The order by the National Authority of Public Services in Panama states that permission was granted “ to the company called InnoVent CENTRAL AMERICA, SA 614,085 registered to the SPC, Document 1336614 of the Public Registry” and is for ‘a provisional license for the exploration, development and exploitation of wind resources of the project called El Potrero, to be located in the districts of Pajonal and Penonomé Penonomé district and province of Cocle, with an installed capacity of 54 MW, comprising 27 turbines of 2.00 MW each. The characteristics of that type wind power station are described in documents accompanying the application which rests in the National Authority of Public Services.’
The order goes on to say that the ‘license does not authorize the installation, operation and exploitation of the
Wind Farm for electrical power generation in the villages Pajonal and Penonomé Penonomé district and province of Cocle.
The license is valid for twelve (12) months from the date of the execution of the resolution
Close XWith an investment of about $30 million an enterprise devoted to the manufacture of footwear will be established in the country in November.
Friday, August 26, 2011
The announcement was made to El Nuevo Diario by the head of the commercial sector of the Brazilian Embassy in Managua, Ariel Seleme, who added that the investment will be made under the free zone regime. Being breaking news the diplomat was not able to say how many new jobs the company will generate.
As a means of strengthening trade ties between the two nations, the creation of a bi-national chamber of commerce is being developed, which could begin operating early next year, said Seleme.
"The idea is to bring the private sectors of both countries closer together and look at the possibilities for increased trade. There is already a Brazilian-Nicaraguan Chamber in Sao Paolo, so this is a natural step to improve the flow of trade. "
Close XThe government is preparing to make awards urgently for road projects in order to limit the backlog in road infrastructure.
Tuesday, August 23, 2011
The Ministry of Works and the National Road Council expect to award a total of $200 million for roadworks in the first half of September.
The recent approval by the Assembly of infrastructure loans introduced by the previous administration has accelerated the agenda for road projects.
"If we do not make these investments we will not have the means to produce in order to pay off these loans. We can not punish a country's competitiveness for fear of assuming duties, said Francisco Jimenez, Minister of Public Works and Transport.
These loans, included in the Plan Escudo (Shield Plan) under which public spending had to be increased during the economic crisis of 2009 -2010, will be injected into the economy just when global markets are shuddering over the threat of a new shock", published Elfinancierocr.com
Close XThe Global Entrepreneurship Monitor (GEM) has issued a report analyzing the propensity of the Costa Rican population to participate in entrepreneurial activities.
Tuesday, August 23, 2011
The full title of the report is "The State of Entrepreneurship in Costa Rica - A local perspective on entrepreneurship, challenges and growth in Costa Rica"
According to the GEM the definition of an early stage entrepreneur is someone “in the national adult population, aged between 18-64, who owns a business which is not more than 3.5 years old”, and an “established entrepreneur is anyone who owns a business that is over 3.5 years old.”
The report goes on to say “Currently, the GEM estimates that in our country, 13.5% of the adult population between 18 and 64 is considered an early stage entrepreneur, this estimate includes 10.3% of new entrepreneurs who have not paid wages for more than 3 months and 3.5% of entrepreneurs who have paid wages for more than 3 months and less than 3.5 years, in addition to this there is a 4.8% rate of established entrepreneurs who have paid salaries for over 3.5 years.
This percentage of the population were asked about the reasons that led them to undertake such projects. According to data from the GEM this year, 38.10% of early-stage women entrepreneurs were not motivated by better business opportunities, but rather because there was no other choice of employment, and also stated that their main motivation was to be independent or increase income, 19.2% wanted to increase their income, a 18.9% wanted economic independence, while 31.7% said they had taken the role out of necessity, having no other way to make a living.
In Costa Rica, according to the methodology of the GEM, it is estimated that 63% of the adult population believe that people who manage to open a new business benefit from higher social prestige, 64% said that being an entrepreneur was a desirable career option, but only 60% believe that the media portrays successful examples of entrepreneurs. In the same vein, 46% of the adult population in Costa Rica believe there is a good chance that they will start a new business in the next 6 months.“
Close XA project by a subsidiary of the ICE Group, which aims to build network infrastructure capable of delivering digital content at speeds between 100 Mbps and 1 Gbps, has been approved.
Monday, August 22, 2011
The project, pending since 2008, endorses the building of the high speed internet network by Radiographic Costarricense (RACSA) .
Racsa Manager, Alberto Bermudez when interviewed by Elfinancierocr.com, referred to the contacts that the institution is making with the company Vía Europa to formalize a partnership in order to develop the project.
"It would allow Racsa to have, as part of the ICE Group, a powerful fiber optic network to provide people with access to the Internet at high speeds and affordable prices", said Bermudez.
Close XAn analysis of the production and export structure of both countries reveals complementarities between economies, ideal conditions for a trade negotiation.
Wednesday, August 17, 2011
COMEX Director General, Federico Valerio, presented the results of the study during a seminar on "Diversifying in Asia: an approach to South Korea, the largest Asian tiger", organized by the Foreign Trade Corporation. During the exhibition, he explained that while the Korean export supply is concentrated in industrial goods such as petroleum oils, machinery, vehicles and high technology products, the Costa Rican economy has great potential in agricultural products such as coffee, pineapples, plants and food preparations.
"Without question, a treaty with Korea would be an important step for our country. It would allow us to continue working on expanding and strengthening our trade platform, thereby strengthening the efforts we have been making in the Asian market. However, while Korea is setting the timetable for negotiations, we will use this time to start generating studies that will allow our manufacturing sector to learn about this market", said the Director General.
Consulting
IT system
Agronomy
Banking
Cold Chain Secretariat
Cold chain
Digital Government
Close XThe Ministry of Public Works (MOPT in Spanish) has announced the construction of a new four lane bridge alongside the old bridge, which has structural problems, on one of the most important routes in the country.
Friday, August 12, 2011
The busy route between San José - Alajuela, fell into chaos several times due to ineffective repairs to the bridge that connects the road to the General Cañas Highway. The new construction will have four-lanes, and will be built by the MOPT alongside the old bridge.
In turn, the old bridge will be subjected to further repairs because fixes made in recent months have failed to address the problem. The bridge, which has been in existence for 50 years, must be rebuilt almost entirely.
Commenting on the costs of the failed repairs, an article in prensalibre.cr notes: "the MOPT has not paid anything, since studies by both the National Laboratory for Materials and Structural Models (LANAMME) and the Association of Architects and Engineers revealed that the concrete [used in the last lot of repairs] did nothing, and the rods underneath are not providing the expected support.
"The bridge is not in danger, but that does not mean that it does not have to be repaired and a solution found for this problem which we have been dealing with since 2009," said the Executive Director of the National Roads Authority (Conavi), Carlos Acosta.
In 45 days maximum, the Da Costa Soares company will have to deliver a solution to start the definitive repair of “la platina” bridge
Close XFrom 2012 the government will be offering a Digital Home Business System, which will reduce the time it takes to start a business to 20 days.
Friday, August 5, 2011
Currently it takes up to 60 days to complete the various formalities required for starting a business, which places the country among the slowest in the region, according to a global Doing Business report.
The new system will be launched sometime in early 2012, and will enable online transactions using a single form and by making a single payment.
Mayi Antillon, the Minister of Economy, explained that the platform is to be connected to the National Registry, the National Printing Office, the Social Security Department, the National Insurance Institute, Taxation, Ministry of Health and the Municipalities.
Close X The Costa Rican Legislative Assembly has approved a $200 million loan for road infrastructure.
Friday, July 29, 2011
The Inter-American Development Bank (IDB) loan, is part of a loan package of $850 million, which will be disbursed in installments.
"These resources, which are exclusively for matters relating to road infrastructure, will be used for a second tranche of cantonal road development in a number of towns and roads that have already been established, the projects will be monitored by a unit of the Ministry of Public Works and Transportation", published Prensalibre.cr
Close XBlue Power has signed a financing agreement for $80 million with Bicsa bank, for the completion of the project in Nicaragua.
Thursday, July 28, 2011
Once completed, the Blue Power & Energy wind generation farm will be able to generate 39.6 megawatts of clean energy, which corresponds to annual savings of $22 million for the country, according to Emilio Rapaccioli, the energy minister.
Joaquin Cuadra, director of Blue Power, explained that the project is under development and that to date "they have built the foundation for the installation of three wind turbines and eight miles of access roads."
In total, the farm will require an investment of $115.8 million and will include 22 Vesta wind turbines. According to an article in Laprensa.com.ni, "the company Blue Power recently signed sales contracts with the power distributor Gas Natural" at a cost of $104.5 per megawatt produced, with an annual 3% increase.
Close XSince the commissioning of a wind farm in Amayo two years ago, the country has saved $58 million in oil.
Tuesday, July 26, 2011
Production of the farm, the largest in Central America, is 250 million kilowatt hours per year, representing 11.6% of the total country's demand.
"The engineer and Amayo plant manager, Manuel Callejas Montenegro, said the energy produced by the wind farm is 40 percent cheaper than that produced by thermal generation plants.
Every kilowatt produced by Amaya Phase I, costs $87 and that produced with Amaya, Phase II is sold at $92, much cheaper than that produced by thermal power plants which cost the plant $210 from the Nicaragua plant and $160 with Che Guevara plant, in Albanisa.
Callejas said that one of the advantages of the plant is in its performance (which is measured by its availability and reliability), which he said is at 98 percent." Published Laprensa.com.ni
Close XCorporations that promote physical activities and sports help to improve not only the health of their employees but also their job performances.
Tuesday, July 19, 2011
Implementing a physical exercise program in the workplace, could be the solution to the problems of sickness absence and low staff performance as well as helping to change unhealthy lifestyle habits.
Diana Lucia Salas in her article in Elfinancierocr.com writes, "Take into account that the situation is a win-win, because the worker, on a personal level, gains significant improvements in their physical condition.
If you are still not convinced, remember that the decline in occupational physical activity over the past 50 years has been a significant factor in the obesity epidemic affecting men and women in the U.S., according to a study entitled "Trends in the U.S. over 5 Decades, Occupation-Related Physical Activity and Their Associations with Obesity, " published recently.
Aerobics, yoga, tae-bo, dance and focused exercises filled the agenda over four days in the auditorium at Groupo Nacion. "
Close XThe national bank is putting out to tender the purchase and installation of 30, 50, 80 and 100 KVA tri-phasic power plants.
Thursday, July 14, 2011
According to the specifications of the tender:
Banco Nacional de Costa Rica, requires the "purchase and installation of 30, 50, 80 and 100 KVA, tri-phasic diesel power plants, with deliveries on demand, for a period of four (04) years for installation or replacement due to obsolescence in new offices. "
Close XNoting that the port services provided in Costa Rica are currently inefficient, an appeal has been filed in favour of granting the concession for the new container terminal in Moin.
Tuesday, September 13, 2011
Following complaints presented by the National Chamber of Banana Workers and the Union of Workers from Japdeva, the National Chamber of steamship owners and Agents (NAVE in spanish) has filed with the Administrative Court a request help in favor of the defendants.
"Antonio Souto Perez, president of NAVE, argued that "the quality of port services in Costa Rica, especially referring to the Caribbean and Atlantic Coast ports of Moin and Limon, are considered inefficient, to highlight a few specifics: incomplete service provision, weaknesses in infrastructure, increased waiting times that result in saturation in the port and notable problems in terms of freight costs'", reported Elfinancierocr.com
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