In the past four years, Salvadoran entrepreneurs residing abroad have initiated 215 projects across various sectors in their home country.
Salvadorans living abroad (Salex) continue to make significant contributions to the Salvadoran economy through a myriad of projects carried out nationwide over the last four years.
Salvador Gómez Góchez, the President of the Investment and Export Promotion Agency (Invest), has praised these projects for not only their success but also their role in fostering development in different regions of the country and generating employment opportunities.
According to Gómez Góchez, during President Nayib Bukele’s tenure of over four years, Salvadorans living abroad have invested nearly $603 million, distributed across 215 projects in the country. These projects span a range of industries, including tourism real estate, hotels, shopping centers, gas stations, and beauty salons. Gómez Góchez also emphasized that several projects are currently in progress.
Furthermore, the agency reports that these initiatives have created around 8,275 direct jobs and more than 24,138 indirect employment opportunities across the various projects undertaken by Salvadoran compatriots.
Previously, the institution revealed that 95% of these projects were spearheaded by Salvadorans residing in the United States, with the rest coming from compatriots living in Canada, Costa Rica, Nicaragua, and a few from European countries.
The government’s records show that the majority of these investments are concentrated in the eastern region of the country, followed by the central and semi-central regions, with the western region ranking third.
One of these visionary entrepreneurs is José Monge, a Salvadoran living abroad who joined the ranks of fellow compatriots returning to invest in their home country, lured by the improved security conditions in El Salvador.
“As an entrepreneur, I support President Nayib Bukele. I believe he is leading El Salvador towards a brighter future. His government provides us with the certainty that the country is on the right path, which is why many Salvadorans are returning to live and invest in their places of origin,” commented José Monge.
Continuing their pursuit of attracting new investments, the head of Invest presented investment opportunities to Salex entrepreneurs in Houston and Dallas, Texas, with the goal of enticing further investments from Salvadorans residing in these cities.
More than 50 compatriots attended the event as potential investors interested in doing business in their homeland and contributing to the economic resurgence that the nation is experiencing.
During these forums, Invest provided information about the diverse investment opportunities, business climate, aspects of public safety, and legal framework that El Salvador offers to ensure that the financial endeavors of both new and existing companies lead to stable development.
Additionally, the attendees were briefed on the incentives provided by the Central Government to ensure the success of these businesses. Most of the attendees were Salvadoran entrepreneurs residing in Houston and Dallas, Texas.