Chamber of Commerce Europe - Central America |
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HOW CAN EURACEN SUPPORT YOUR BUSINESS DEVELOPMENT, EVEN IN DIFFICULT TIMES ? |
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For "Staying safe" is still being top of mind in the heads of business owners today, the way we have to run our businesses often remains complicated. Safety checks, travel bans, staff reduction, working from home, virtual contacts, climate change, rising energy prices, political crises and the confrontation with the often miss understood but irritating behaviour of anti-this and anti-that people, sometimes trigger drastic changes in the way business is done. After months and months of sitting back, many people tell me that they have had it with too much daily video conferencing and a lot of businessmen and women really start longing for personal contacts again in familiar looking environments.
Business owners always keep looking for new opportunities to network and meet other business owners and expand their business network. One great way to do this is to become a member of a Chamber of Commerce of interest to them! In doing so, small and larger businesses can increase their business exposure and grow revenues through involvement in such Chamber.
As for Euracen, to achieve tangible results, I decided to put a lot of emphasis on the word "Commerce" in the title "Chamber of Commerce" and it make me develop "Reversed Thinking" as a business model. What it basically comes to is that by inviting Ambassadors and staff from the 8 countries which we represent
- to flag projects for which (public or private) project owners in their home country are still looking for matching partners or potential investors
- to provide us, in the earliest possible stage with a detailed and documented description of the project
This allows us to look for matching partners in Belgium of which we have learned their interest in such project. DEME and Jand De Nul being perfect examples of our research, but there are many others in other industry or business sector to which this could apply.
What we know for sure is that, in doing so, we save a lot of time and money for potential matching partners in terms of market survey and prospection. We also know that our approach considerably shortens their " go, no go" time to decide.
As a member of Euracen, we would like to get to know more of you for we want to make sure, in case a project comes our way for which we think that you would suit the requirements, that we contact you at once and put you on top of the short list. The ultimate advantage is that we put you in direct contact with the owners and decision-makers behind the project.
When I joined the Chamber in 2013, I believed in its mission from day one on, which is to provide resources and advocacy on behalf of the businesses communities in Belgim and on the other side of the Ocean. Because of the success of "Reversed Thinking" I am more than ever motivated by that mission. So, what about you?
Wish you all a safe and interesting month of February 2022.
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PRESIDENT |
Erwin De Weerdt |
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Seven great reasons for joining Euracen |
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1. Make business contacts - The Chamber initiates B2B opportunities for networking and connecting with other business professionals
2. Receive Chamber Newsletters - Our Newsletters provide on a regular basis useful information about business developments on both sides of the Ocean in general, and about the CA countries we are dealing with in particular.
3. Acquire customer referrals - We are an ideal turning platform where info and requests about import and export opps are pro-actively dealt with
4. Bring credibility to your business - When identified as a member of Euracen, the Chamber of Commerce Europe-Central America, chances are that you will increase the positive perception among consumers and business owners. By the way, Euracen is the only organisation in Belgium and Luxemburg with boots on the ground in each country in the Central American region.
5. Increase your visibility in the business community - As part of our digital transformation process, we will offer you soon ample opportunities to highlight your activities in our Chamber publications, both off line and online. We intend to offer you possibilities for advertising on our integrated dynamic website and sponsor the events we are planning. The number of personalised contacts in our databank carries 2000+ names and addresses.
6. Networking opportunities - We hope soon to be able to return to the new normal, which should allow us to invite you, to name a few, to
- a traditional Ambassadors Dinner during which we usually introduce new Ambassadors
- a company visit to one of our partners such as Agoria, or sponsors such as John Cockerill
- a meeting with the regional government and the business community in the German speaking Eupen-Malmedy area, Belgium's often forgotten fourth region
- a conference on the new European Green Deal directives and their consequences for the import of all sorts of goods
However, for we don't know how long it will take before we will be back to normal, we have planned to set up some teleconferences on specific topics of interest or concern to you. One such conference should be the Greater Caribbean & Central American Business Summit, scheduled in April.
7. Gain a voice in government
Together with BLCCA, The Belgian Association of Belgian Chambers and bi-lateral Chambers of Commerce, we reach out to the political world when and where possible and/or necessary to take on tough issues or oppose new regulations, taxes, assessments and costs with a negative effect on business. While you may not personally have the time to get involved, we will use all our relations and resources to improve the situation.
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The Federation of Belgian Chambers of Commerce represents the accredited Chambers of Commerce in Belgium and the Belgian Chambers abroad. It guarantees the quality and cohesion of the chamber network while focusing on international and sustainable entrepreneurship. René Branders is the President of the Federation of Belgian Chambers of Commerce. René has always been dealing with international affairs.
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FACTORY 4.0 aims to bring together valuable people in the industry, interested in the digital transformation of their companies.
The FACTORY 4.0 initiative is supported by IFM ELECTRONIC, Bosch Rexroth, Phoenix Contact, KUKA and EPLAN, and will develop for the first time in Romania an intensive workshop on digitization, robotization, cyber security, automation, employee training for Industry 4.0 and how companies can move from concept to concrete projects.
This company has created the Community “FACTORY 4.0 | digital skills & digital transformation” where the talk about Industry 4.0, digital skills and digital economy.
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SOME EXAMPLES OF WEEKLY BUSINESS OPPORTUNITIES |
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Dear members,
Below please find an overview of the most concrete opportunities with a specific request and/or offer. With the feedback from both our users and Chambers, we can conclude that specific buying or selling opportunities in the platform have the highest success rate. By posting a specific offer and/or request, it becomes easier for CONNECTS users to identify instantly the value and relevancy of the opportunity for them.
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“Buy” opportunities
“Connect” opportunities
“Sell” opportunities
- Moroccan company offering warehousing, transport (national and international) and cold logistics services.
- Luxembourg company of General Data Protection Regulation (GDPR / RGPD) offers e-learning courses - For individuals or companies. (in English and in French)
- Moroccan company offering warehousing, transport (national and international) and cold logistics services
- Colombian Company offers administrative and accounting consulting.
- Lithuanian company is looking for companies that need General Data Protection Regulation insurance for companies
- Belgian company help companies to familiarize their expat employees with their new living conditions
- Mexican company offers plastic logistic boxes with lid, foldable bulk containers with lid and plastic pallets for handling and storage of goods
- BC Softwear are delighted to announce our new sales agent for Germany - and we are keen to find new business opportunities in Germany. If you know of a hotel, spa or leisure facility that requires luxury towels or bathrobes please make contact with us!
- English company helps you to find the clients that you need to grow your business in the UK
- Colombian company is looking for medium or small companies that want to expand their business and increase their market by creating web portals with nodejs, reactjs mongodb technology
- This company imports high quality organic and fair-trade coffee from Rwanda and Congo
- Egyptian company looking to export organic food products, including olive oil, olives, dates and dried herbs
- Lithuanian company provides services including Software Development, Website Design, Database Development, SEO, PPC. They work closely with clients to thoroughly understand their goals and supporting them throughout the entire business lifecycle
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NEWS FROM FLANDERS INVESTMENT & TRADE |
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During the FIT Exportbeurs, Flemish exporters can book appointments with the FIT representatives. But it is also an ideal moment for these exporters to meet other actors that can help them with their international development, including chambers of commerce. Until the end of January, you can book your stand or your workshop with a 10% discount. Don't hesitate to contact us if we can be of any assistance.
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GreenWin cluster in Wallonia celebrates its 10th anniversary |
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Established in 2011, the Walloon competitiveness cluster GreenWin is an accelerator of innovative and collaborative industrial projects in the fields of green chemistry, sustainable building, ernergy transition, waste recovery and recycling, and CO² reduction. An important mission of GreenWin is to help its members with their internationalisation.
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Top 10 Business Partnership Examples: The Perfect Business |
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Business partners are usually compared to a solid marriage. There are many reasons behind this comparison. Especially in this period, in which doing business is complicated, you may think to work with business partners who can help you to split the job, suggest ideas, and have additional skills. In this article, discover the top 10 business partners and five examples of business partners.
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CENTRAL AMERICAN ECONOMIC SNAPSHOT |
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GDP growth to ease in 2022
Economic growth in the region should ease next year amid a tougher base of comparison and as economic conditions normalize. That said, tighter labour markets and robust remittance inflows should continue to support household spending. The region’s low vaccination rate and new Covid-19 mutations pose downside risks.
Regional economic growth is forecast to ease this year compared to 2021’s rebound. Nonetheless, tightening labor markets, coupled with robust remittance inflows and normalizing economic conditions, are set to buoy activity. The outlook is clouded by lingering Covid-19-related uncertainty amid low vaccination rates in the region.
Inflation to ease in 2022
Preliminary data showed that inflation inched up from 4.8% in November to 4.9% in December. Stronger price growth in Guatemala, Honduras and Nicaragua offset easing inflation in Costa Rica and El Salvador. This year, inflation should cool somewhat as economic conditions normalize. However, continued currency depreciation poses an upside risk.
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GDP growth remained strong in Q3, albeit easing compared to Q2’s stellar performance. The slowdown was due to a less favorable base effect and increasing new Covid-19 cases, which led to the imposition of a curfew in the period. Looking at sectors, agricultural output had the worst performance, slowing down significantly. Meanwhile, the labor market showed some positive signs, as the latest survey revealed that the unemployment rate fell to single digits in September. Turning to Q4, tourism remained solid in October–November, which should have supported the still-fragile services sector. Meanwhile, both exports and imports expanded robustly in the same period, signaling resuming activity at home and strong demand abroad. That said, Covid-19 continued to hamper output in the quarter and into the new year, with some restrictions remaining in place until at least mid-January.
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Belize Economic Growth |
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Economic activity should lose steam in 2022, after a mild recovery in 2021. However, the key tourism sector should continue its path toward pre-pandemic levels, thus bolstering activity. A dire external debt position and fragile government finances pose key risks to the outlook. FocusEconomics panelists forecast GDP to grow 5.7% in 2022, which is down 0.1 percentage points from the previous month’s forecast. For 2023, the panel sees the economy expanding 3.0%.
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More news from Belize
Forbes CentroAmérica/ 'Costa Rica will study its potential for offshore wind farms. The President of CABEI, Dante Mossi, explained that Costa Rica is a country "at the forefront of sustainable energy generation in the region".'
Read more here (in Spanish): https://forbescentroamerica.com/2022/01/31/costa-rica-estudiara-su-potencial-para-los-parques-eolicos-marinos/
Biz Latin Hub/ '4 Back Office Services in Costa Rica Ideal for Outsourcing.' https://www.bizlatinhub.com/back-office-services-costa-rica/
Nearshore Americas/ 'Hiring and Firing in Costa Rica: Bring Reams of Paper.'
Read more here: https://nearshoreamericas.com/hiring-firing-nearshores-costa-rica/
EU in Costa Rica/ “The Delegation of the European Union in Costa Rica, together with the Ministries of Environment and Energy (MINAE), Ministry of Foreign Affairs and Worship (Foreign Ministry), and Ministry of National Planning and Economic Policy (MIDEPLAN) carried out the presentation and launch of the EUROCLIMA+ Country Action Plan, which details the actions that have been defined together to strategically contribute to the fulfillment of the NDC 2020 of Costa Rica, with a perspective of sustainable, resilient and inclusive recovery.
We invite you to see the press release that was made. In this note you can download the presentations that were made during the launch (video in Spanish):
https://www.youtube.com/watch?v=wFxK1pa7JIY
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COSTA RICA ECONOMIC OUTLOOK |
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The economy expanded at the swiftest pace in 30 years in Q3, after a firm rebound in government spending and quicker private consumption growth. Turning to Q4, high-frequency indicators paint a mixed picture: Although economic activity grew robustly in October–November, it has continued to lose pace for the last five months. Moreover, import growth comfortably outpaced export growth in both October and November, potentially weighing on the external sector. Meanwhile, after loosening pandemic-related restrictions on 29 December, a record surge in Covid-19 cases led authorities to tighten them again on 12 January. That said, a relatively high vaccination rate should provide some protection to the health system. In politics, although former president José María Figueres is leading some polls in the run-up to the presidential elections on 6 February, no clear favorite has emerged among the record number of candidates.
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Costa Rica Economic Growth |
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In 2022, GDP is expected to grow at a healthy albeit more moderate pace as the base effect subsides. Consumer and capital spending are projected to expand at robust rates, powering overall growth. Risks to the outlook persist due to the spread of new Covid-19 variants and uncertainty stemming from next month’s presidential and legislative elections. FocusEconomics panelists see GDP expanding 3.6% in 2022, which up 0.1 percentage points from last month’s forecast, and 3.0% in 2023.
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DOMINICAN REPUBLIC ECONOMIC OUTLOOK |
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Momentum appeared strong in Q4, with average economic growth through November matching Q3’s double-digit figure, despite the introduction of Covid-19 passes for public venues. Activity was likely supported in part by lower unemployment and high remittance growth. Moreover, government consumption should have been aided by an expansionary fiscal stance. In addition, tourism continued to be the recovery’s lynchpin, with visitor arrivals through November significantly higher than in the same period of 2019. Heading into Q1 this year, a record Covid-19 surge amid the arrival of Omicron is likely restraining momentum somewhat, although the president appears reluctant to introduce fresh restrictions, which should be limiting the economic fallout.
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Dominican Republic Economic Growth |
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Growth should weaken this year on a tougher base effect and a normalization of remittance growth. That said, growth should still be one of the highest in the Centam region, amid vaccination progress, lower inflation and unemployment, supportive fiscal policy and growth in tourism. The Omicron variant poses a downside risk given the country’s dependence on tourism. FocusEconomics panelists see the economy growing 5.2% in 2022, which is up 0.1 percentage points from last month’s forecast, and expanding 4.7% in 2023.
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EL SALVADOR ECONOMIC OUTLOOK |
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The economy grew at a softer, but still-solid pace of 11.7% year-on-year in the third quarter, down from the 25.8% expansion logged in Q2. The slowdown in growth reflected easing domestic and external demand. Domestically, private consumption and investment increased at softer rates, while public consumption growth accelerated. On the external front, exports of goods and services rose at a markedly reduced pace. Meanwhile, momentum continued to ease at the outset of the fourth quarter. Economic activity increased at a notably softer pace in October due to contractions in the industrial, construction and financial sectors. This partly offset a stronger expansion in the agricultural sector and still-robust growth in the trade sector. Further, merchandise export growth eased somewhat in October–November. More positively, remittances growth picked up notable steam in the same two months.
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El Salvador Economic Growth |
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Economic growth is set to ease notably this year amid a less favorable base effect. That said, domestic and external demand should continue to firm on the back of softer restrictions on activity. However, balance of risks is skewed to the downside due to weakened fiscal metrics and concerns over debt sustainability and macro stability, as well as the ongoing pandemic. Our panelists see GDP expanding 2.8% in 2022, which is up 0.1 percentage points from last month’s forecast, and 2.3% in 2023.
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GUATEMALA ECONOMIC OUTLOOK |
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The economic recovery eased in the third quarter amid a less favorable base effect. Domestic demand cooled, although household spending continued to grow at a fairly rapid pace. The external sector’s performance worsened in the quarter, as growth in exports of goods and services decelerated at a quicker pace than imports. Momentum likely continued to ease in Q4. Economic activity growth cooled to an eight-month low in October, while merchandise export growth lost steam in the same month. On the other hand, growth in remittances picked up pace in the quarter as a whole, and reached a five-month high in November. This, coupled with softer price pressures in the quarter, bodes well for household consumption in the final stage of last year. Turning to this year, Covid-19 cases surged in early January, posing a health risk given the country’s low vaccination rate.
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Guatemala Economic Growth |
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The economy will grow at a softer pace this year compared to last. That said, domestic demand will strengthen on the back of softer restrictions and strong remittance inflows, buoying household spending. However, political tensions and Covid-19-related uncertainty amid a low vaccination rate cloud the economic outlook. FocusEconomics panelists estimate the economy to grow 3.8% in 2022, which is up 0.2 percentage points from last month’s forecast, and to expand 3.3% in 2023.
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HONDURAS ECONOMIC OUTLOOK |
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Xiomara Castro of the left-wing Liberty and Refoundation Party will be installed as the new president—the first woman to take up the role—on 27 January. The focus of her presidency will likely be geared towards social issues, with pro-market and business reforms receiving less attention. That said, she will inherit an economy that will have recovered strongly last year from the Covid-19 pandemic, albeit at a slower pace in H2. In the third quarter, the economy grew 12.4% year-on-year (Q2: +25.9%). The slowdown came on the back of softer growth in private and public consumption amid a less favorable base effect, although the economy still exceeded pre-pandemic levels in the quarter. The pace of economic growth likely continued to ease in Q4: In October, growth in activity slowed due to contractions in the manufacturing and transport sectors, while growth in most other sectors cooled.
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Honduras Economic Growth |
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GDP growth is set to cool this year, although domestic and foreign demand are still expected to strengthen amid softer restrictions, normalizing economic conditions and robust remittance inflows. Less supportive monetary and fiscal policies will weigh on growth, while the outlook is further clouded by lingering Covid-19 uncertainty amid a low domestic vaccination rate. FocusEconomics Consensus Forecast panelists see the economy expanding 4.1% in 2022, which is up 0.1 percentage points from last month’s forecast, and growing 3.7% in 2023.
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NICARAGUA ECONOMIC OUTLOOK |
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Economic growth slowed to 9.7% in Q3 (Q2: +17.0%), although it remained solid overall. The figure was largely driven by softer private spending growth, as well as a net subtraction from the external sector. Turning to Q4, economic activity grew at a softer pace in October compared to the Q3 average, while growth in both merchandise exports and imports moderated significantly in the same month. That said, remittance inflows picked up in October–November, likely bolstering private spending. In politics, President Daniel Ortega and members of his Sandinista party were sworn in on 9 January following last November’s highly contested elections. Consequently, the U.S. imposed fresh sanctions on Nicaraguan officials closely tied to the president. Lastly, in an effort to forge stronger ties with China, the government signed a cooperation agreement with Beijing on the Belt and Road initiative.
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Nicaragua Economic Growth |
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In 2022, economic growth should temper as the favorable base effect subsides and the U.S. economic cycle matures, resulting in a slowdown across most sectors of the economy. A lagging domestic vaccine rollout, heightened political tensions and international backlash over this year’s election results dampen the outlook. FocusEconomics panelists see GDP expanding 2.7% in 2022, which is up 0.4 percentage points from last month’s forecast, and 2.3% in 2023.
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GDP growth lost some steam in Q3 due to a fading base effect, but still closed in on pre-pandemic levels. The print was largely dragged down by weakness in the agricultural and construction sectors, and came despite buoyant services and manufacturing output. Notably, mining output reached an all-time high, surpassing Q1’s record. Turning to Q4, economic activity slowed down in October, but still recorded growth in sectors such as manufacturing, cargo transportation and cement production. Meanwhile, fuel sales and vehicle registrations remained high in October–November, boding well for domestic activity. In addition, both the volume of cargo and tolls revenue at the Canal increased in the same period. Externally, data is less positive as exports logged the lowest print since May in October, while imports were the highest since May in the same month.
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Panama Economic Growth |
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GDP growth should continue in 2022, albeit losing some momentum from last year’s rebound. The recovery should be driven by still-buoyant mining output. That said, the economy is not seen fully returning to pre-pandemic levels until 2023. Longer term, the G7’s Build Back Better World infrastructure project, if approved, poses an upside risk. FocusEconomics Consensus Forecast panelists foresee the economy expanding 6.3% in 2022, which is down 0.1 percentage points from last month’s forecast. For 2023, the economy is seen growing 5.2%.
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News from Central America |
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SICA/ Launch of the new specialized section on the Digital Regional Strategy (ERDI) in the SICA integrated portal.
Read more here (in Spanish): https://www.sica.int/noticias/lanzamiento-de-la-nueva-seccion-especializada-sobre-la-estrategia-regional-digital-erdi-en-el-portal-integrado-del-sica_1_129279.html
BCIE/CABEI/ 'Central American Bank for Economic Integration and European Union sign EUR4.9 million agreement to prepare climate change projects for the benefit of the Central American region.' Read more here: https://www.bcie.org/en/news-and-media/news/article/bcie-y-la-ue-firman-convenio-por-eureur49-millones-para-la-preparacion-de-proyectos-de-cambio-climatico-en-beneficio-de-la-region-centroamericana
BizLatin Hub/ 'Where to Retire in Latin America? 6 Countries to Consider.' ‘According to the 2022 Annual Global Retirement Index, published by International Living, Panama, Costa Rica, [Mexico, Colombia, Ecuador, and Uruguay] all appear among the top 10 countries to retire to [with European nations Portugal, Malta, Spain, and France making up the rest of the list].'
Read more here: https://www.bizlatinhub.com/where-retire-latin-america/
IFC/ 'Is e-Commerce the future for SMEs in Central America?
https://ifc-org.medium.com/is-e-commerce-the-future-for-smes-in-central-america-862c924e48e5
CEPAL/ECLAC/ 'Latin America and the Caribbean’s Growth Will Slow to 2.1% in 2022 amid Significant Asymmetries between Developed and Emerging Countries.'
Read more here: https://cepal.org/en/pressreleases/latin-america-and-caribbeans-growth-will-slow-21-2022-amid-significant-asymmetries
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Flanders, an innovation leader in Europe |
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The Flemish Region has been dedicated to R&D and innovation for years. And its innovative ecosystem is only getting stronger. Various facts and figures confirm how and why Flanders should be on the radar of foreign companies that are looking to kickstart their R&D activities internationally.
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