Conference Rule of Law and Economic Growth

Palabras de la Embajadora de los Estados Unidos, Laura F. Dogu
Managua, 9 de noviembre del 2017

Good Morning.

The theme, “Rule of Law and Economic Growth”, is very relevant for countries that want to be more competitive.  During my career as a diplomat in many different countries, in different parts of the world, the main focus of investors in the United States has always been the rule of law.  There is a strong relationship between the rule of law and economic growth.  To have sustainable economic growth, not only stable, the rule of law is needed.  Therefore, strengthening and defending it requires everyone’s effort.

In order to attract better and greater investment to Nicaragua, both domestic and foreign, it is important to respect institutionality, private property rights, control corruption, and to have clear public policies for investment.  The absence of a solid rule of law hinders economic development.

Thank you to the Presidents of all Chambers of Commerce for your support. The United States government is pleased to support the entrepreneurs of the different departmental chambers of commerce.  Weak governmental institutions and extensive executive control can create significant challenges for those doing business in Nicaragua. They can bring stability in the short term but it is not sustainable in the medium or long term.

In the survey of the world economic forum, “corruption” was cited as the most problematic factor for doing business in Nicaragua.  According to the most recent report of Transparency International, 30 percent of Nicaraguans paid a bribe when accessing basic services.  And, there are still reports of land invasions. The police are not always willing to intervene in cases of invasion of property, or help in compliance with court orders to remove illegal occupants.

There are many challenges, but with your contribution, your good legal and administrative practices, but above all with your voices, will contribute to overcome them. And your companies and the Nicaraguan economy can benefit from a greater growth rate.

I hope that during these two days of the conference you will continue discussing the importance of institutionality in order to achieve a favorable climate for investment. You have national and international connections and a space for dialogue and exchange to advance your preparation.

With their presence, you are taking concrete actions to achieve sustainable economic progress.

I wish you the best in your efforts.

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