Mexican businessmen with operations in El Salvador are optimistic about the country’s economic prospects, expecting to close 2024 with an investment increase of between 7% and 8%. This projection was shared by the Mexico-El Salvador Business Council (Conmexsal) during the VIII High-Level Business Dialogue, held at the Mexican Embassy in El Salvador.

In 2023, Mexican foreign direct investment (FDI) in El Salvador reached $1,132 million, accounting for 10% of the total FDI received by the country. For 2024, this figure is expected to exceed $1,200 million. José Luis Netzahualcóyotl, president of Conmexsal, emphasized that the improvement in security and legal certainty, coupled with tax incentives from President Nayib Bukele’s administration, has motivated more than 40 Mexican companies to increase their investments.

Notable investments include a $200 million plant expansion by Grupo Bimbo, a Conmexsal member, and the entry of five new Mexican companies into the Salvadoran market this year. Netzahualcóyotl also highlighted that Conmexsal’s advisory services, in collaboration with the Mexican Embassy and local authorities, played a key role in encouraging this influx.

Ambassador Ricardo Cantú Garza praised the increasing presence of Mexican companies, noting that the country’s improved security conditions have been a critical factor in boosting investment. “Security is very important in the variables that are needed to invest in a country, and I believe that El Salvador has made important progress in that aspect,” he said.

Looking ahead, Netzahualcóyotl revealed plans to further strengthen the council’s activities in 2025, including the organization of two trade missions to El Salvador, aimed at expanding Mexican business opportunities in the region. He also announced the launch of a new monthly newsletter, Mexico in Business, to highlight the ongoing developments and opportunities for collaboration between Mexican companies and Salvadoran talent.