Displaying items by tag: EL SALVADOR

Foreign investment in El Salvador is a crucial engine for the country's economic development, as it promotes job creation and improves labor conditions, according to Invest El Salvador Foreign Direct Investment (FDI) in 2023 was US$10,841 million and so far in 2024 the figure amounts to US$760 million.

The Comisión Nacional de la Micro y Pequeña Empresa (CONAMYPE) together with the United Nations Development Program (UNDP) in El Salvador, closed the second group of participants of the incubation strategy of the project “Development of dynamic micro and small enterprises for the economic reactivation of El Salvador”.

According to the most recent update of the Monthly Executive Report of Macroeconomic Indicators of the Central America and Dominican Republic Region (CARD), it was registered that in El Salvador, Foreign Direct Investment (FDI) for April 2024 was US$760 million and foreign trade in exports of goods for the same month totaled US$2,131 million and imports of goods with US$5,172 million.

Moody's Ratings today upgraded the long-term foreign currency issuer and senior unsecured debt ratings of the Government of El Salvador by 2 positions from Caa3 to Caa1.

Representatives of El Salvador and Saudi Arabia recently signed the Joint Negotiation Act between both nations, this agreement will facilitate the establishment of connections for passengers, cargo and mail in the short term, thus promoting trade and tourism exchange between the countries.

In the Travel & Tourism Development Index 2024 report, prepared by the World Economic Forum, El Salvador ranks 97th in terms of global tourism with a score of 3.43, being the American country that advanced the most positions in 2024, as it was at 101st in the 2019 report.

In El Salvador, the Central American Bank for Economic Integration (CABEI) has supported MYPIMES with more than US$12 million in loans; more than 103 micro and small enterprises have been strengthened with non-refundable resources from Small Grants.

The Government of El Salvador has launched the project "My Financial Journey", designed for young salvadorans to receive financial education through a bus that has advanced and interactive technology resources that will travel through communities in the 14 departments of the country.

Entrepreneurs and businessmen from the region of Tapachula, state of Chiapas, in southern Mexico, participated in a virtual forum for business promotion organized by the diplomatic representation of El Salvador in that country, recently, with a view to attract investors from that destination.

Gross loans in march 2024 reached US$16,508.5 million, compared to US$15,814.9 million in march 2023.