El Salvador is moving towards becoming a technological environment

The Minister of Economy, María Luisa Hayem, reported that at least 60 technology companies are in consultations to operate in the country.

“The first four and a half years of President Nayib Bukele’s administration have served to prepare the platform for a future that we see as very bright”, recently considered the Minister of Economy, María Luisa Hayem.

The official referred to the actions implemented by the Government in terms of trade facilitation and the generation of a technological environment, both designed to materialize investments in El Salvador, generate jobs, and continue with the dynamization of the economy.

Hayem said that, only as a result of the recent approval of the Law for the Promotion of Innovation and Technological Manufacturing, more than 60 companies have knocked on the doors of the country and are in consultations to establish operations, while five have already been authorized by the Ministry of Economy (Minec).

She added that these are in addition to the more than 100 technology companies that have arrived in El Salvador in the last two years, mainly in the area of fintech and cryptocurrencies.

“The message that President Bukele sends to the world is to take these public policies, and this positions us internationally as a country that is at the forefront of the financial economy, and the message is important because now technology companies already see El Salvador as a potential country where to settle and invest,” she said.

In turn, the official projected that the General Law for the Digital Modernization of the State that gives way to the transformation of institutions under the Google platform and the recent joint statement between El Salvador and the United States signed during the official visit of the undersecretary of International Trade, Marisa Lago, will encourage the arrival of even more companies to invest in the country.

For the minister, all these actions have allowed the perception of the country to take a 180-degree turn on an international scale.

“The conversation now is to come and invest in El Salvador because it is the country where fintech companies are growing the most, those companies that work to expand access to financing and financial services for our population using technology,” she said.

She also stressed that the entire trade facilitation strategy is also important for the materialization of these capital attractions, as well as to accelerate the growth of the local industry, and that over time, the benefits will be more noticeable.

“The results that we are going to see from the trade facilitation, maybe they are not so tangible in the short term, that yes that the companies already recognize it and are living it, but there are many benefits we are going to be seeing throughout the next months, the next years for the reduction of costs even of the products that our population consumes”, he maintained.

Source: Diario El Salvador