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Managua: city of the future

Monday, April 15, 2013

These are words, which few people - including Nicaraguans - are used to hearing.

Yet the Nicaraguan capital earlier this month was named by fDi Magazine, published by the Financial Times, as the third most attractive city for investment in the western hemisphere, trailing only Toronto and Montreal.

Managua was the only Central American city to be included in the Top Ten of the ranking.

Nicaragua is still the second poorest country in the hemisphere, while some Nicaraguans, along with foreign observers, question the legitimacy of its electoral process.

On the other hand, the Sandinista administration, led by President Daniel Ortega, now in its second consecutive term, has made it easier for foreigners to invest in Nicaragua, in part by simplifying the procedures involved.

In addition, both land and labor costs are low, while the country's location - along with the provisions of the United-States Central American Trade Agreement - means that Nicaraguan businesses have easy access to major markets.