Stream Global Services Launches Operations in Nicaragua
Newswire Services
February 28, 2010
WASHINGTON, DC -- Following the merger in October 2009 with the company eTelecare, Stream Global Services Inc., a leader in the outsourcing of complex business processes, announced the official launch of its operations in Nicaragua. The company's facility, located in Managua, required an investment of approximately US$2.7 million and currently generates about 600 direct jobs.
The event was presided by General Alvaro Baltodano, Presidential Delegate for Investments, Jeff Bishop, Vice President of Operation of Stream Global Services Inc., other company executives, officials of the National Free Zone Commission (CNZF for its acronym in Spanish ), the Free Zones Corporation (CZF, for its acronym in Spanish) and PRONicaragua, which included a tour to learn about the company's offices.
This investment will not only strengthen the emerging industry of digital services, but also represents an important step in the diversification of the exportable offer of Nicaragua, from the traditional light manufacturing to the export of knowledge.
This project will have a positive impact in the country and will demonstrate the confidence investors have in Nicaragua. Stream Global Services Inc. constitutes a substantial investment in communications infrastructure and information technology, a sector with great potential in bringing benefits to Nicaraguans in terms of the development of human capital and the creation of new jobs," said General Alvaro Baltodano, Presidential Delegate for Investments.
Stream Global Services made its decision to invest in Nicaragua after analyzing various factors such as availability of qualified human resources, low employee turnover, the country's competitive cost structure and the strong legal framework that offers confidence and security to investors. The company is currently exploring the possibility of investing in the creation of 1,000 new jobs in several countries in the region, including Nicaragua, a decision that will be taken in the next three months.
"As a global company, Stream Global Services Inc. is very pleased to reiterate our confidence in Nicaragua by extending our global growth strategy, because this country has allowed us to have a successful experience, mainly due to the talent and quality of its human resources. Undoubtedly, the country's conditions, including infrastructure, a stable economy and favorable investment climate, allows us to continue betting on this operation," said Jeff Bishop, Vice President of Operations of Stream Global Services Inc.
The event was presided by General Alvaro Baltodano, Presidential Delegate for Investments, Jeff Bishop, Vice President of Operation of Stream Global Services Inc., other company executives, officials of the National Free Zone Commission (CNZF for its acronym in Spanish ), the Free Zones Corporation (CZF, for its acronym in Spanish) and PRONicaragua, which included a tour to learn about the company's offices.
This investment will not only strengthen the emerging industry of digital services, but also represents an important step in the diversification of the exportable offer of Nicaragua, from the traditional light manufacturing to the export of knowledge.
This project will have a positive impact in the country and will demonstrate the confidence investors have in Nicaragua. Stream Global Services Inc. constitutes a substantial investment in communications infrastructure and information technology, a sector with great potential in bringing benefits to Nicaraguans in terms of the development of human capital and the creation of new jobs," said General Alvaro Baltodano, Presidential Delegate for Investments.
Stream Global Services made its decision to invest in Nicaragua after analyzing various factors such as availability of qualified human resources, low employee turnover, the country's competitive cost structure and the strong legal framework that offers confidence and security to investors. The company is currently exploring the possibility of investing in the creation of 1,000 new jobs in several countries in the region, including Nicaragua, a decision that will be taken in the next three months.
"As a global company, Stream Global Services Inc. is very pleased to reiterate our confidence in Nicaragua by extending our global growth strategy, because this country has allowed us to have a successful experience, mainly due to the talent and quality of its human resources. Undoubtedly, the country's conditions, including infrastructure, a stable economy and favorable investment climate, allows us to continue betting on this operation," said Jeff Bishop, Vice President of Operations of Stream Global Services Inc.
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