El Salvador has become a key destination for Colombian investments

Investments from the South American country totaled $40.1 million up to the second quarter of the year, according to BCR data.

In recent years, El Salvador has become the epicenter of investments by Colombian companies, attracted by the dynamism of the various economic sectors.

According to the database of the Central Reserve Bank of El Salvador (BCR), investments of Colombian companies, in the first two quarters of the year, reached $40.1 million, ranking among the three nations that have invested the most in Salvadoran territory.

In recent statements to “Diario El Salvador”, the Colombian ambassador in the country, Carlos Rodriguez Bocanegra, said that currently the interest in installing productive capital in Salvadoran soil has been growing, encouraged by the success of social and legal security policies, and the incentives offered to investors.

“There is a growing interest on the part of Colombian businessmen, entrepreneurs and innovators to come to El Salvador, to know what is happening, what they are doing and if it is possible to settle here”, he assured.

In addition, he stressed that due to the security experienced in El Salvador, companies from all sectors such as education and technology, are exploring entering Salvadoran soil. In addition, they are also looking to participate in large infrastructure projects.

Between 2000 and 2022, Colombia’s total investment in El Salvador reached $870.7 million, making it the 14th largest foreign investment destination and the third largest in Central America, according to data from the Colombian Embassy in El Salvador.

However, in the last 12 years, investment from Colombia to El Salvador exceeded $504 million and the entry of Colombian capital into the country has grown at double-digit rates since 2019, according to a recent publication of the Colombian newspaper La República.

Likewise, data from the Bank of the Republic of Colombia, as of June of this year, reveals that foreign investment by Colombians on Salvadoran soil exceeded the amount registered in 2023, when it totaled $35.4 million.

The publication also highlights that among the Colombian companies that have positioned themselves in the Salvadoran territory are: Davivienda, Grupo EPM, Procaps and Organización Carvajal, as well as Grupo Bancolombia and Avianca, among others.

“What type of security? Legal and financial. Under any circumstance, the government guarantees respect for the capital that has been invested, that it will not be expropriated and that it will have all the necessary support”, commented Gustavo Tamayo, delegate of the Colombian-Central American and Caribbean Chamber of Commerce to La República.

Investment exploration 

Recently, the Vice Minister of Foreign Affairs of El Salvador, Adriana Mira, met with the Vice President of International Relations and Cooperation of the Chamber of Commerce of Bogota, Maria Monica Conde, who visited El Salvador, accompanied by a business delegation, to promote economic exchanges and rapprochement between El Salvador and Colombia.

On this occasion, the business association arrived in El Salvador to deepen the opportunities and possibilities offered by the country for the implementation of productive projects.

During the meeting with Mira, the representative of the chamber highlighted the reception and the good relations developed with the national institutions.

Source: Diario El Salvador