Saturday, 25 November 2023 03:41

El Salvador strengthens economic growth thanks to the reduction of red tape

Written by Miguel Crespin
El Salvador strengthens economic growth thanks to the reduction of red tape Courtesy

Authorities in El Salvador have implemented more measures to boost economic growth. The Minister of Economy, María Luisa Hayem, highlighted that this administration has facilitated the conditions for more investors to settle in the country, eliminating bureaucracy and reducing red tape.



The minister of Economy indicated that 600 procedures have been prioritized to eliminate excessive red tape, which are related to trade and investment; more than 200 of these have already been digitalized.

"We have worked on an ecosystem of economic growth that is sustainable over time, inclusive and environmentally friendly. We have worked on 12 pillars, among them the elimination of red tape and the modernization of our regulatory framework", said the minister of Economy.

The official said that since the beginning of this administration has worked to create a business climate that is appropriate for companies to have all the environment to invest and operate in the territory. Likewise, Hayem emphasizes that the security that now prevails in the country allows the world to set its eyes on El Salvador.

"A crucial element (to attract more investments) is the eradication of insecurity, which was the biggest barrier to the economic growth of our country, the attraction of investments and the generation of employment", said the official.


Translated by: A.M