The favorable security climate and government-provided fiscal incentives have made El Salvador an attractive destination for foreign investors. As part of President Nayib Bukele’s government’s open-door policy to attract international investment, Vice President Felix Ulloa and Christian Guevara, the head of Nuevas Ideas parliamentary faction, recently met with a delegation of Argentine entrepreneurs and the tourism director of Guatapé, Colombia.
During the meeting, the CEO of Argentine company Urbetrack, Pablo Ader, expressed the company’s desire to invest in El Salvador and establish its offices in the country to serve as the regional headquarters in Central America. Ader praised the favorable investment climate created by the government and identified El Salvador as the ideal location for their operations in the region.
Ader also acknowledged the country’s improved security situation, which allows investors to establish companies and contribute to the country’s economic development by creating job opportunities for Salvadorans. Urbetrack specializes in geomatics and telemetry and is a leader in solutions and services that add real and productive value to the transportation and traffic, energy and industry, public administration and health, insurance, and telecommunications sectors.
Ulloa highlighted the changes that El Salvador has undergone to provide its citizens with decent living conditions, making it an attractive destination for tourism and foreign investment. He emphasized that the improved security situation has significantly contributed to the country’s development and the well-being of its citizens, attracting both domestic and foreign investors to expand or start new businesses.
Yomaria Rosales, the tourism director of Guatapé, expressed interest in learning more about President Nayib Bukele’s governance model after observing the transformation of El Salvador through the strategies implemented by the Salvadoran president, such as the Plan Control Territorial (PCT) and the exception regime. Rosales also noted that the Vía Vela project on Lake Ilopango in San Salvador would serve as a benchmark for her municipality, Guatapé, which is an attractive tourist destination due to its strong development potential and the Peñol-Guatapé reservoir.
The meeting also addressed legislative issues, including the recent approval of the Innovation and Technological Manufacturing Promotion Act, which applies to foreign technology companies investing in the country. Salvadoran officials highlighted that the law offers five fiscal incentives, including exemptions from taxes for companies providing services, products, and creating technological materials.