Fecaca said the Nicaraguan government “expressed concern about the lack of information and therefore the lack of transparency”
The Federation of Chambers of Commerce in Central America and the Dominican Republic (Fecaica) has decided to unanimously express its “concern about the lack of information and therefore the lack of transparency in the case of factory confiscated. Liquefied gas from Grupo Tomza of Nicaragua”.
In mid-April, Tomza Centroamérica, Guatemala Condemned the seizure of the facility it built in Tipitapa (Managua) in 2016, Under the protection of the so-called decision of the Ministry of Environment and Natural Resources (Marena), the decision canceled its operating permit.
The company says The expropriation cost him about four million dollars, including the value of the land and the improvements he made, Among them, the installation of storage tanks and other facilities stands out. About five years later, Zhoubi was painted green, similar to the paint of one of the competitors.
“The lack of information on this case since 2016 highlights the lack of clarity in the actions of the Nicaraguan government. At the end of last year, he transferred the property to his name without notifying Grupo Tomza”, and added the statement of the Central American Industrial Union.
Before issuing the statement, Fecaica requested a meeting with his local partner, the Confederation of Nicaragua Industry (Cadin), to gather information and exchange standards. The document stated, “In this case, there is a lack of government support. information”.
This will result in a “legally insecure environment, and this disrespect manifests itself as a threat to private property. These actions scared off investment in the country and the region, and made people worry that they would become victims of arbitrary actions in the future.This will only exacerbate the spread of unemployment, poverty and immigration”.
Concern for Nicaragua
Guatemalan industry alone accounts for 28.4% of all Central American industryTherefore, when considering Nicaragua as a possible destination for new investment, the decision that affects Chapin’s origin company may have a serious impact.
In addition to possible pressure from the industrialists’ union, Tomza’s lawyers in Nicaragua tried to obtain an official position from the government, but were unsuccessful, so that they did not even have the ability to obtain the official documents kept by the union. The property’s registry revealed the source of the work for Tomza Centroamérica.
The source said that in the same way, “through Guatemalan lawyers, all trade agreement mechanisms with Nicaragua were mobilized to protect the Guatemalan company’s investment.”
He added: “This issue is closely related to regional industry associations because they don’t know which company may be the next victim of the asset nationalization process.”
Due to Nicaragua’s geo-strategic position, entrepreneurs in the region have attracted attention In the center of the isthmus, it could once again destabilize commodity trade and the free movement of people between North and South Central America, as happened in 2018.
He said: “As an ally of the industry in the region, Fecaca calls on the Nicaraguan government to make a formal statement on this matter and clarify the case, and use this as a basis to determine what happened.
He concluded: “We urge the Nicaraguan government and judiciary to ensure the application of due process and laws, which will legitimize legal certainty, thereby legitimizing the protection of foreign investment, free enterprise and private property.”