The National Assembly of Nicaragua approved today the bill on Public Private Partnership, which was created with the purpose of regulating government involvement with the private sector in the formulation, contracting, financing, construction and operation of projects of public-private partnership. The only exceptions to this law appear in the art. 105 of the Political Constitution of Nicaragua, stating that the sectors of health, education and social security are exempted.
The governing body of this Law will be the Ministry of Finance and Public Credit, through the Directorate General of Public Investments. Recently, it was announced the plan “Policies and Development Projects to Enhance Investment 2017-2021”, where it is included the development of projects such as: pacific coastal road, railways, irrigation system, ports, among others. Highlight that every year a tender process will be open for the private sector in order to submit project proposals, which could be approved if considered of national interest.
Our offices in Honduras and El Salvador have already provided legal advice for the implementation of these laws and for subsequent project implementation. We are eager in Central Law Nicaragua to be part of the development and we are convinced that the use of Public Private Partnership will be a key factor for that goal.
If you have any questions or wish to know more about this matter, please do not hesitate to reach us.
Managua, October 5, 2016.