AmCham: El Salvador's Government generates optimism among investors

Successful investments in security, trade facilitation and technology are making the country attractive for new investments, according to AmCham.

The executive director of the American Chamber of Commerce of El Salvador (AmCham), Carmen Aida Muñoz, said that the Government of El Salvador has generated a favorable environment for new investments with successful bets in security, trade facilitation and technology.

“El Salvador is in a quite positive environment, with the security issue we have seen new companies coming to the country, also the digitization of systems is an issue that entrepreneurs see very well. We are on the right track and AmCham is a strategic partner to continue working together with the Government of El Salvador,” added the spokeswoman.

Likewise, the head of the entity, which has 340 members that generate 175,000 direct jobs in the country, said that the Government’s efforts to facilitate trade through technological strategies and simplification of procedures has given “many competitive advantages” to the country.

“The government has made great progress in systematizing the programs. This digitalization, this operability, the elimination of barriers to trade, efficiency and agility in the procedures has given a lot of optimism to the investor and competitive advantages,” he said.

Still on the technological issue, he added that El Salvador “is taking great strides” to become a technological hub in the region, after developing an aggressive strategy to modernize customs.

“The new Data Trust and Google are good signs that we see that El Salvador will be a technological hub, we are already a logistics hub because customs led by a very capable person like Benjamin Mayorga are working very well. We see that we are taking great steps towards modernization and technological development,” he said.

In support of investment attraction, Muñoz also mentioned that the election of Rodrigo Ayala as head of Invest In El Salvador will contribute to the dynamism of foreign investment in the country.

“We feel very satisfied with the arrival of Rodrigo Ayala to Invest In El Salvador, we have already met with him four times and we see him with a very dynamic and focused mind and we are sure that even more investments will come,” he said.

As another successful strategy of the Government, he cited the upcoming entry into force of the Health Regulation Superintendence Law.

“We see very well the entry into force of the Superintendence of Sanitary Regulation as from August 7, that for us will be a win-win situation; it is a triumph to have a first level and first world institution”, she said.

According to the leader of the institution, the Government’s initiatives will lead the country to close 2024 with a growth of between 3.5% and 3.8% of the Gross Domestic Product, as supported by multilaterals such as the International Monetary Fund (IMF).

Source: Diario El Salvador.