El Salvador has become attractive to international companies

The director of the ASI, Jorge Arriaza, indicated that the country is fulfilling characteristics that attract multinationals.

The executive director of the Asociación Salvadoreña de Industriales (ASI), Jorge Arriaza, stated that the investments of international companies established in the country are a clear sign of the confidence generated by the government of President Nayib Bukele and that a positive year is on the horizon for the industry.

“International and local companies are looking very carefully at where they are going to invest. There are many options of countries for them to invest and they choose El Salvador because it fills the characteristics of them and sends a strong message to the whole world, “said Arriaza.

In addition, he said that new investments in the country, such as the most recent ones of Unilever and Nestlé, send a message of security to other investors and to those who want to come to install investments in El Salvador.

“There are many companies now, more than in previous years, that are analyzing investments in the country,” he said.

In addition, he said that the electoral issue will not affect the momentum of new investments. “Already the stages where there was uncertainty due to the electoral processes have been passing, the processes are transparent and do not generate convulsions. Investments are also long term and the electoral process does not end up affecting a decision”, he explained.

On the other hand, Arriaza affirmed that for 2024 a recovery of the industrial sector in exports is in sight after facing problems of low demand in the United States, particularly in the textile sector.

“The installed capacity is there, the growth prospects are there and we expect the negative rate to revert to positive. In this first quarter of 2024, the United States increased demand and lowered inflation, which helps companies to export normally, the food sector continues to grow along with textile and pharmaceuticals. We are going to have a positive year for the sector,” concluded Arriaza.

Source: Diario El Salvador