A Jewel in San Juan del Sur – The “La Joya at Pacific Marlin” project was officially opened last week and it attracted some big names from tourism and investment here in Nicaragua, including; General Álvaro Baltodano (Presidential Advisor on Investments), Anasha Campbell (Co-Director of the Nicaragua Tourism Institute – INTUR) and Lucy Valenti (President of the National Chamber of Tourism) to name but a few. High end projects such as La Joya are seen as the diversification Nicaragua needs in order to attract a demographic with a higher spending power than the current average. The eight units in phase one of the development have already been sold and were in the US $ 600 thousand dollar price range. In 2018, phase two of the luxury condominiums will begin.
Walmart Mexico and Central America – The store that “If they don’t have it you don’t need it” have announced a massive investment in the region and Nicaragua will receive US $105 million in investments over the next year and the creation of 500 new jobs at the various Palí, Maxipalí and La Unión stores as well as the flagship Walmart Super Center. Walmart Mexico and Central America (the corporate identity they use here) say that US $52.3 million (of that 105 millon) will be invested in a new 38,000 square meter product distribution center that will be built at Mateare, just past Ciudad Sandino on the new road to Leon. Currently Walmart employs almost 4,000 people in Nicaragua. Year to date purchases from small and medium-sized domestic producers have exceeded US $126 million, a 20% increase over last year for the same period.
Recent Heat Wave – Temperatures soared last week and in some areas of Nicaragua reached 35 degrees centigrade. The weather experts at the Nicaraguan Institute of Territorial Studies (INETER) say that the cause of the hot weather was due to a maritime anticyclone creating cloud free skies as well as intense hurricane activity drawing a lot of the rain out of the region. The usual recommendations were announced; stay hydrated, and take special care of children, seniors, and people with chronic diseases. Heat causes the body to stress and the outcome can be high blood pressure which is compounds existing problems, many of which are unknown to the patient.
Bad Boys Drug List
Last week, the US published its annual list of major drug-producing or drug-transiting zones which accused Venezuela and Bolivia of “failing to comply with their obligations under international counter narcotics agreements” and were placed on the official “decertified” list. Nicaragua remains on the list due to its geographic position on the route between the production zones of South America and the USA, where the demand is high. Nicaragua joins; Afghanistan, The Bahamas, Belize, Bolivia, Burma, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, India, Jamaica, Laos, Mexico, Pakistan, Panama, Peru, and Venezuela. Colombia were under consideration for the decertified list because of the “massive increase in coca cultivation and cocaine production over the past 3 years, including record cultivation during the last 12 months”. However, the efforts of the authorities and the nature of the security partnership with the United States in the Western Hemisphere prevented their inclusion at this time.