Argentine entrepreneurs seek to venture into El Salvador

The president of the Development Bank of El Salvador (BANDESAL), Juan Pablo Durán, reported that a group of Argentine businessmen interested in investing in El Salvador would arrive in the country in February.

On a tour of the South American country, the representative of Bandesal met with the president of the Industrial Union of the Province of Buenos Aires, Martín Rapallini, and the representatives of various unionized industrial sectors.

The institution said that currently, some businessmen have to confirm their attendance; however, they are interested in coming to the country and meeting with President Nayib Bukele.

«We are organizing a mission of Argentine businessmen that would come in February. Our visit to Argentina has been more than productive. They want to visit El Salvador. They are desperate because the investment ecosystem they have is quite complicated, so the country can be an opportunity for them to invest and produce, which would help boost the economy, » added Durán.

If there’s no longer an Escrow for the Economic Recovery of Companies (Fideicomiso para la Recuperación Económica de las Empresas, FIREMPRESA), one of the strategies from the Government for 2022 is to attract investment to boost, generate employment, taxes, and more exports, among others.

“El Salvador has improved the investment ecosystem thanks to the paperwork, the ease of creating companies, operating, the good relationship with the Government, and the legal safety for everyone that comes and invests here. The dollarized economy, the geographical position, and free trade agreements are also very attractive», said the president of Bandesal.

While in Argentina, Bandesal met with five recognized universities, they all agreed that the Salvadoran vision of stop producing employees and start generating entrepreneurs is the ideal.