According to Aplan, around 75 investment projects are underway in the area in areas such as lodging, restaurants, and cafés, among others, which generate some 2,500 formal jobs.
The Historic Center of San Salvador has become one of the most important places for the establishment of new businesses in various areas, thanks to the rescue and beautification of the area, as well as security measures and tax incentives for investment.
These measures implemented by the Government have allowed more than 75 projects in the area, such as: lodging, cafes, restaurants, stores, among others, which exceed $65 million in investments, according to data from the Planning Authority of the Historic Center of San Salvador (Aplan).
According to Aplan’s director, Manuel Joachin, these investments have generated more than 2,500 formal jobs for Salvadorans and some foreigners.
“The Historic Center is the second most visited tourist destination, but it has also become a pole of economic development. This is allowing us to register many companies that are interested in investing and taking advantage of the benefits offered,” said Joachin.
He also explained that the Historic Center has 80 delimited blocks that represent more than 772,000 square meters, an area in which different types of investments can be established.
In this sense, he added that as an authority they have managed permits for around 100,000 square meters, that is, 22% of the delimited area.
According to Joachin, there are currently entrepreneurs looking to conquer the heart of the Salvadoran capital, and who are interested in operating projects in key sectors such as: lodging, restaurants and cafes.
“There are two hotels that are going to operate and will be inaugurated soon, one of them is a boutique hotel. In addition, a museum of the National Commission of Micro and Small Enterprises (Conamype) will be opened where entrepreneurs will be able to market their products”, he announced.
The representative of the authority also commented that “big chains” of the gastronomic industry are interested in operating in the area and one of them is focused on the commercialization of fried chicken.
In addition, he detailed that recently a cafeteria of a Salvadoran brand was inaugurated where more than $200,000 was invested; while a pupusería reopened its doors with products at low prices and offering a coffee as a courtesy thanks to President Nayib Bukele.
Attention to investments
The growth of businesses in the sector can be seen in the 3,900 services provided by Aplan since May of last year, when it was inaugurated.
At present, the institution has a Single Window, which allows procedures to be answered in a maximum time of 90 days.
“In these new and modern facilities, the single window is already operating, which allows us to concentrate in a single tourist destination all the procedures for those who want to make investments or improvements to properties delimited in the Historic Center”, he emphasized.
On the other hand, he indicated that they have implemented fiscal and municipal incentives for up to 10 years in new investments related to: lodging, food, cultural activities, furniture and housing development.
These incentives include income tax exemption (ISR), exemption from municipal taxes and expenses deductible from income taxes.
Source: Diario El Salvador
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