Tuesday, 12 July 2022 16:40

Private company to invest US$1.6 billion for tourism in El Salvador

Written by Evelyn Alas

The presidential commissioner for Strategic Projects, Cristian Flores expressed that the country has a positive relationship with private companies and investors.

An example of this is the incursion of the Dominican AraJet Airlines, with flights from El Salvador to different destinations in the Caribbean, starting in August; the US$1.2 billion investment in the hotel and tourism sector by the Invictus Investment Group.

In addition, PROMAR's participation in the eastern coastal strip of the country, where the second phase of Surf City will be developed and the construction of a new airport is planned, and the recent inauguration of the Hyatt Centric with an investment of approximately US$40 million, are proof of this relationship.

The official said that this correspondence is fundamental for the well-being of salvadorans, since it promotes assistance and confidence, which leads to more and better operations, employment, investments and economic growth.

He said that there is a favorable investment climate in the country. Companies are projecting economic growth of 3% and there are 70 thousand new jobs in the formal sector.

He said that while the world is going through an inflationary crisis due to the COVID-19 pandemic, the high cost for the transfer of goods and shipping freights, the high prices of oil products due to the war between Russia-Ukraine; in El Salvador there is economic relief due to the 11 measures against inflation implemented by the Central Government.