Michael Navas This is Me

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1. 1. www.primenicaraguaproperty.com

   www.primenicaraguaproperty.com - [Cached]

   Published on: 9/22/2007   Last Visited: 9/22/2007

   "This law will make Nicaragua even more attractive to foreign investment,"said INTUR lawyer Michael Navas, one of the chief architects of the reforms.
   ...
   THE best part of the new development plan, Navas explained, is that private financers will have their tourism-certificate investments backed 100% by a special government fund of no less than $1 million. In the event the new tourism business fails, investors will recover 100% of their investment plus interest from the safety fund.The bank would then confiscate the failed tourism project and sell the property to recoup most of the money spent from the safety fund.
   
   INTUR is currently in communication with the Inter-American Development Bank (BID) to provide the initial $1-million to start up the fund, which will be managed by the Nicaraguan bank that wins the concession to control it, Navas said.
   ...
   The expanded law will cover many small tourism operations that "felt excluded"from the original incentive law, Navas explained.

2. 2. Investment Tourism Climate Gets International Confidence Boost

   www.ricanica.com/NICARAGUA/NEW - [Cached]

   Published on: 11/13/2004   Last Visited: 3/22/2008

   The drop in tourism investment, from $3.8 million in the first half of 2003 to less than $700,000 in the first six months of this year, is due, primarily, to last years implementation of Law 453 (The Law of Fiscal Equality), according to Michael Navas, secretary of INTUR's Tourism Incentive Board.

3. 3. Nicaragua LA PRENSA

   www.stealthfinancial.com/NEWS_ - [Cached]

   Published on: 1/19/2007   Last Visited: 3/15/2008

   The manager of tourist promotion of the Agency of Promotion of Investments of Nicaragua (ProNicaragua), Michael Navas, advanced yesterday that the country will participate, from the 22 to the 24 of January, in the Fair of Alis Investments that reunites to 1.500 bound people world-wide to the hotel sector.
   
   The goal of the nica delegation, in agreement with Navas, will be the one to establish alliances with great marks of the described industry, among them Marriot.
   
   "Since the country has a deficit in hotel rooms, and that is what we try to solve in the fair", argued.
   
   According to official estimations, the national territory account with 5.300 rooms, in hotel infrastructure terms.
   
   "But they are required between 700 and 1.000 rooms to more lodge the tourists (who happen more than three nights to local level)", specified Navas.
   
   Nicaragua will be present in the event, next to Guatemala and Honduras.
   
   The Nicaraguan retinue will be conformed by ProNicaragua, the Nicaraguan Institute of Tourism (Intur), the Pacific Big Group and the hotel the Great France, of Granada.Navas added that ProNicaragua will take advantage of the encounter to position to the country between the specialized consultants of the hotel sector, who are generating of opinion.