In a recent event organized by the American Chamber of Commerce in El Salvador (Amcham), both public and private sectors announced collaborative efforts to attract foreign investment and engage the Salvadoran diaspora in boosting the country’s economy.
Clarissa Valdebrán, the Director of Investments at the Ministry of Economy (Minec), emphasized that improving security is a crucial factor for enhancing the investment climate in El Salvador. Other strategies include regulatory improvements, talent development in English and technology, and facilitating regional trade, all aimed at attracting foreign capital.
Valdebrán highlighted ongoing efforts to streamline processes and eliminate unnecessary requirements in coordination with the Secretariat of Commerce and Investment, the Ministry of Foreign Affairs, and the Investment and Export Promotion Agency of El Salvador (Invest). These initiatives are managed through the Investment Facilitation Committee, which works closely with business associations.
«Our country has focused on attracting investments through the creation of the new Invest agency,» Valdebrán stated. She also mentioned that technical assistance is provided to entrepreneurs interested in investing in El Salvador.
Vanessa Bandak, Director of Investment Promotion at Invest, stressed the importance of personalized advisory services for investors, which are coordinated with other government institutions. Providing comprehensive information on how to invest is crucial, as it determines the feasibility of investment operations.
«We have created a webpage to provide information not only about the country but also about specific sectors and the regulatory framework, which is one of the first inquiries from investors,» Bandak added. This platform aims to address key investor concerns, such as service providers and their availability.
Invest, in collaboration with the Development Bank of Latin America and the Caribbean (CAF), is developing a new digital portal to offer detailed information on investing, living, and visiting El Salvador. The project is currently in its initial phase.
Regarding nearshoring, the Promotion Agency has established a strategy to attract companies seeking to relocate from Asia to the Americas, further positioning El Salvador as a prime investment destination.