He also explained that micro and small businesses are the engine of the entire economy; according to CONAMYPE data, there are about 980 large companies, 1,650 medium, 17,000 small, 270,000 micro and 870,000 self-employed workers and farmers; with this result 99.6% of all entrepreneurs are micro and small, which directly impact 85% of the population.

This has been a great achievement for the country and for entrepreneurs, since, according to the official, they have better incentives to improve their businesses and thus generate more income for salvadoran families.

The Investment and Export Promotion Agency of El Salvador (Invest in El Salvador) shared through its social networks that, in the last year, the country has received US$486.8 million in Foreign Direct Investment (FDI).

El Salvador has become one of the most attractive markets for domestic and foreign investors.

Douglas Rodríguez, president of the BCR, detailed that net FDI flows are 36% higher than the average of the period between 2012 to 2022 and in 2023 accumulated three quarters higher than US$100 million.

Currently, great investment opportunities are provided through the modernization of foreign trade operations, new infrastructure, physical and digital infrastructure, simplification, and digitization of procedures for agile establishments, reform and development of a legal framework that protects and promotes foreign direct investment, resulting in a competitive business climate for investment and the promotion of dynamic, inclusive and resilient economic growth. 

In fact, in january, the Minister of Labor, Rolando Castro, announced that the government has surpassed one million contributing workers in El Salvador.

December 2023 closed with a figure of 1,000,976 workers contributing to the Instituto Salvadoreño del Seguro Social (ISSS).

According to a SIMEL graph, shared by Rolando Castro, head of the state portfolio of labor, the number of workers who are already formal has been growing.

The statistics show that december 2017 closed with 837,577 formal workers, while 2018 culminated with 856,497; by 2019 they had already joined 875,368, however, in the same period of 2020 a drop in ISSS contributors was seen, reducing to 846,692 (period in which the COVID19 pandemic began), but in 2021 an increase was seen, closing that year with 915,096 contributors; in 2022 they were already 968,245; finally by 2023 they surpassed one million contributing workers.

Translated by: A.M