Ortega reforms the Maritime Canal Act and removes Wang Jing's concession

Dictator Daniel Ortega ordered an urgent reform of Law 800, creating the Rule of Law and Nicaragua's Grand Indooceanic Canal Authority, and rescinded Law 840 to eliminate concessions granted to billionaires. Chinese, Wang Jing for the construction of the mega-project.

Representatives of the National Assembly, loyal to the dictatorship, approved the reform with 91 votes in favor on Wednesday morning, May 8, to pass the program into the hands of the government.

The explanatory statement points out that the Bill aims to “strengthen and update the national legal system, keeping in view the ever-changing national and international environment”, which is why it argues that “it is necessary to amend certain laws”. These changes maintain optimal governance within the state of Nicaragua.

“Within these changes, according to the new facts, Act 800 of the legal regime of the Grand Indooceanic Canal of Nicaragua and it is necessary to create the authority of the Grand Canal of Nicaragua and promote better performance for the benefit of Nicaraguan families,” says the reform, asking whether it is actually related to the disappearance of millionaire Wang Jing, who became a fraudster. Without specifying.

New system

With the reform approved, the Minister of Infrastructure and Transport, currently Oscar Mojica, will head the Nicaraguan Grand Indooceanic Canal Authority.

The Vice President will be the President's representative for the Caribbean Coast. And the Secretary will be the Advisor for Investments, Trade and International Cooperation, of the Nicaraguan Presidential Secretariat, namely Laureano Ortega Murillo.

“The Directorate of the Commission of the Grand Interoceanic Canal of Nicaragua is responsible for recognizing and promoting the representation of the Commission in companies or corporations, national or international, private, state or mixed and holding shares in it or in any companies. It is a member” , the reform says.

The Mystery of Wang Jing

This Monday, LA PRENSA published an article based on investigations by Chinese media Frauds perpetrated by Wang Jing, Among them, a promise to build a canal in Nicaragua, not a single ditch.

According to Chinese media, Xinwei Group, led by Wang Jing, was declared bankrupt last April, nearly three years after its listing on the Shanghai Stock Exchange was suspended in June 2021 due to “improper financial transactions”. .

Nothing is known about Wang Jing's whereabouts, he has “disappeared off the map”, and according to unexplained reports, he is living a “happy life” in America.

The billionaire, who is said to be the head of Hong Kong Nicaragua Development (HKND), received a concession for the canal from the Daniel Ortega regime in 2013, with another 50 years for the construction of the failed Grand Indooceanic Canal, which could be extended for another 50 years.

About offer for HKND

Law 840 or Special Law for the Development of Nicaraguan Infrastructure and Transport Related to Canal, Free Trade Zones and Related Infrastructure, took effect on June 14, 2013. And its first article stated: “Recognize and ratify the signing of the construction. The Concession and Implementation Agreement, hereinafter referred to as 'the MCA', shall be signed between the Authority of the Grand Interoceanic Canal of Nicaragua, the Government, the Nicaraguan Canal Development Project Authority, Major Infrastructure Development Company SA, hereinafter 'the Investor'. or 'The Concessionaire' and HK Nicaragua Canal Development Co., Limited, a limited liability company incorporated in Hong Kong.

The law granted an “exclusive privilege” for 50 years from the start of business operations and extended an additional 50 years to Wang Jing.

The farmers' movement has always opposed these concessions, as have environmentalists, saying it would displace entire communities from their territories and cause irreversible environmental damage to the country. And this is how Ortega handed over the country's sovereignty to a Chinese businessman.