Thursday, 21 March 2024 02:06

COEXPORT participated in the closing event of USAID Economic Competitiveness Project

Written by Karla Gutiérrez

The Corporación de Exportadores Salvadoreños (COEXPORT) participated in the closing event of the United States Agency for International Development (USAID) Economic Competitiveness Project, together with them COEXPORT has supported 1,425 companies since 2017.

Among the initiatives that have been developed with the support of USAID are the franchising program, women leaders, trade promotion, among other initiatives that have been developed to improve on the issue of exports from El Salvador.

USAID's Economic Competitiveness Project partners with the salvadoran government and private sector to generate economic growth, create jobs, stimulate innovation and promote policy reform that contributes to economic prosperity and security in order to reduce irregular migration.

USAID supports the creation of new economic opportunities by expanding exports, diversifying products, facilitating entry into new markets, and strengthening services for micro, small, and medium-sized enterprises (MSMEs).

In an increasingly competitive global marketplace, salvadoran companies face many challenges, including strengthening business management, access to markets, and the availability of a workforce with the necessary skills to produce competitive exports. The salvadoran economy is comprised primarily of MSMEs that have limited time and resources to understand and meet the complex standards of export markets, which require investment in qualitative improvements.

Through this project, USAID strengthens salvadoran MSMEs in the industrial and service sectors that have the greatest potential for economic growth.

The selected MSMEs are in the 50 municipalities prioritized by the national security plan to help create greater economic opportunities and jobs in those municipalities as alternatives to crime, violence, and irregular migration.

As such, the project works with the selected municipal governments to improve municipal services for business activities and growth.

 

 

Translated by: A.M