El Salvador

El Salvador, Centro American Republic with 200 years of turbulent history has been able to consolidate the Rule of Law, which today offers exceptional prospects to visitors and investors. With a population of nearly six and a half million inhabitants and an area of 20,742 km2, it has the highest population density of all Central America. Its capital is the city of San Salvador, whose metropolitan area concentrates on the economic epicenter of the Republic, although the cities of Santa Ana and San Miguel are also important urban centers. El Salvador suffered a civil war for 12 years; the human lives lost during this war were approximately 75,000. This war ended in 1992 when the Government and the guerrillas signed peace agreements that led military, social and political reforms that have helped them to be one of the Central American countries with greatest vigor in the last 15 years. The Salvadoran economy registered an average increase of 2%, which reached 4.7% in 2007 and, despite the slowdown in the global economy in recent years; El Salvador has endured it with patience. This is because of the commitment of the authorities and the fact that the Government prepared a stimulus package of about USD 600 million for economic recovery, which has given great results. According to the World Bank 2015, will be a year of major public and private investment, an economic growth of 3% GDP is expected. According to the Minister of Economy Tharsis Salomón López, the period from 2015 to 2020 can be considered very promising: “A part of the Fomilenio cooperation, EU and Taiwan, totaling around USD 500-600 million, we have the Alliance for Prosperity, which are about USD 1000 million for the three countries. All this will not solve the problem per se, but is a sign of high confidence in our country for new investment from the private sector. In the case of Fomilenio only 4 countries have qualified and run this program, El Salvador is the only one who has qualified for the second time. This creates confidence for the private sector and investors. The Fomilenio is considered to have the highest strict levels in order to qualify because they take into account transparency, democracy, and this is what attracts investors.” The United States is the largest foreign investor in El Salvador. As a result, the two countries recently signed an Agreement that will develop in the country FOMILENIO II. By which The United States will donate USD 277 million spread over five years, the first $10 million has been approved. Another important voice in the recent history of El Salvador is Fabio Castillo, a prestigious Salvadoran politician who believes with sound judgment that : “I hope that foreign investment will not only make an initial investment but after return of profits is achieved, a reinvestment should be take place with this type of business. “ According to Mr. Castillo El Salvador is facing significant challenges, one of the most important is safety, where all strength, public and civil of the country, must serve this cause: “We have to promote security programs against crime. The investor wants legal security and the worker wants personal safety.”