The emigration of six out of seven Salvadorans who have studied for 12 years or more is removing a vital resource for economic performance, preventing improvements to labor productivity in the country.
Up until 2000, 85% of high school and college graduates with twelve or more years of education had migrated, reveals the study 'Measuring the international mobility of skilled workers'.
The minister of Economy is leading a government delegation in Vietnam, which has been there since April 9th, in order to explore investment opportunities for the country presented by the company Viettel Group in the telecommunications sector.
The delegation from El Salvador, headed by the Minister of Economy, aims to monitor this process and demonstrate the Government's interest in facilitating the realization of this investment.
By the end of 2012, El Salvador and Guatemala intend to integrate their customs borders in order to facilitate trade and people transit.
Towards the end of 2012, El Salvador and Guatemala are looking to integrate their customs border in order to facilitate trade and transit of people. The two neighboring countries will standardize their schedules, increase the number of staff at borders and are studying measures to facilitate trade and passenger transit.
The Ministry of Economy has launched a National Quality Policy which aims to turn El Salvador into a more competitive country.
A press release from the Ministry of Economy reads:
Economy Minister Hector Dada Hirezi launched this December 13 the National Quality Policy, the aim of which is not only to make a difference by turning El Salvador into a more competitive country, but also one where consumers get higher levels of respect in relation to the supply of goods and services.
If a reform of the law is approved, tax exemptions enjoyed by members of the scheme would be limited.
Although the purpose of the law reform is to modernize the free zones scheme and meet the requirements established by the World Trade Organization, companies currently operating under the scheme would be affected.
Before the end of the year, the country will resume negotiations over a FTA with the Andean nation.
The announcement was made by Minister of Economy in El Salvador, Hector Dada, after a publication in a Peruvian newspaper expressed interest resuming negotiations with El Salvador .
"Dada said the most difficult part of negotiation lies in industry, specifically the textile sector, which has become the most complicated issue to seal the deal for the new TLC", reported Elmundo.com.sv.
In June, the national debt reached $11,900 million and although it remains stable, it might become unsustainable.
Several private sector analysts believe that the current level of debt, equivalent to half the Gross Domestic Product (GDP) could become unmanageable if fiscal measures are not taken to control its growth.
To cope with the debt, the country needs to strengthen its economic activity and implement fiscal reforms to realign the distribution of spending and taxes.
The Economy Minister launched an environmental consultation process to create policies for the mining sector.
A number of workshops will be organized involving all stakeholders (NGOs, the civil society, private companies, government entities, etc) to discuss the mining situation in the country, explained Dada Hirezi, Economy Minister.