The officials also explained that Trade and Investment Facilitation will contribute to the generation of jobs and the establishment of new companies in the country.

The general director of Investment and Public Credit, Marlon Herrera, explains that the program contemplates the development of new technological tools to boost the investment climate in the country through: the strengthening of the Agencia de Promoción de Inversiones y Exportaciones de El Salvador (INVEST); the development of the El Salvador Emplea platform to connect labor supply and demand in the country; the creation and implementation of a web portal aimed at investors to create a community and generate information on how to do business.

The program will simplify and digitalize procedures; modernize customs service centers; and promote and attract investment.

In addition, it will reduce logistics and transportation costs and times in overland trade. To this end, the acquisition of intelligent systems in customs is considered necessary.

The General Director of Investment and Public Credit, Marlon Herrera, explained that a few weeks ago, the Ministerio de Hacienda signed this loan agreement with the Banco Andino de Fomento, but according to the legal process, the ratification of the plenary is required.

He said that the main objective is to contribute to an attractive business environment for the private sector that facilitates trade, investment expansion and job creation in El Salvador.

Translated by: A.M