In the last three years, over 14 Mexican companies have chosen El Salvador as their new business destination, joining the 48 already established in the country, according to the Mexican Embassy in El Salvador.

El Salvador has hosted eight trade missions from Mexico during this period, resulting in the establishment of 14 diverse companies, as reported by Ángel Pérez Cortés, in charge of Economic and Commercial Affairs at the Mexican Embassy.

Pérez highlighted the impactful role of trade delegations organized by the Mexican Council for Foreign Trade (COMCE) and the Confederation of National Chambers of Commerce, Services, and Tourism of Mexico (CONCANACO SERVYTUR). Companies like Imperquimia and Grupo Prowork have swiftly initiated operations in El Salvador following these visits.

Specifically, Grupo Prowork has injected over $1 million in capital, with plans for additional direct investment in early 2024, aiming to establish a regional hub for Central America.

Other ventures include BIOS, exploring educational programs, and Exim Logistic, investing in logistical expansions in El Salvador. CONCANACO SERVYTUR is also considering opening its first foreign office in El Salvador.

Pérez attributes this surge in Mexican interest to improved security conditions and government initiatives in El Salvador. The favorable investment climate has led to positive comments from companies exploring opportunities in the region.

These new investments complement the existing 48 Mexican companies heavily invested in El Salvador, making Mexico the second-largest foreign investor in the country, contributing $94.1 million in the first half of 2023, according to the Central Reserve Bank (BCR).

“In 2023 alone, Sigma Alimentos and Grupo Bimbo, two Mexican companies, have announced multimillion-dollar investments, furthering industrial production and increasing exports of locally manufactured products,” Pérez noted.

José Luis Nezahualcóyotl, president of the Mexico-El Salvador Business Council (Conmexal), highlighted the positive experiences of the group in El Salvador, citing the absence of security concerns and tax exemptions in technology as attractive factors for Mexican companies considering investment.

“As a Mexican group, we already have operations in El Salvador and invite other companies to invest. The lack of security issues, which is a phenomenon in Mexico, makes El Salvador an attractive destination. Additionally, the new tax exemption regulations encourage investment in technology,” Nezahualcóyotl commented.