Because this is a large project, representatives of the Ministry of Finance attended the work meeting to request that tax incentives be made available so that the contracting process is competitive and guarantees a better reception of works with higher quality.

For this reason, they requested tax exemption for the companies that will be involved in the construction, in order to promote mechanisms that generate investment attraction through the use of fiscal stimuli.

"This will make it possible to optimize the resources allocated to the project. Public works bring development to the areas where they are executed and boost economic growth, generating sources of employment and motivating commerce", assured the general director of Investment and Public Credit of the ministry, Marlon Herrera.

According to Luis Cañas Pacheco, Deputy Director General of Internal Taxes of the Ministry, the promotion of mechanisms that generate investment attraction through the use of tax incentives will be in accordance with Article 6 of the Tax Code.

"It is appropriate to exonerate from the payment of taxes, tariffs and all taxes related to acquisitions, purchases, hiring, incorporations and internments carried out within the framework of the development of the project. As well as inputs, materials, transportation and logistics of the project", said Cañas Pacheco.

Another of the approved rulings is the reform to the 2022 Budget Law, in the Public Works and Transportation branch, in order to incorporate the amount of $6,119,719 for external loans for the investment project called "Construction of the bypass in the city of San Miguel".

The purpose of this is that this work of the Gerardo Barrios peripheral can have the budgetary credit to continue with the execution of the project in the stage that covers from Hato Nuevo to El Papalón, that is, seven kilometers of road.

Translated by: A.M