The International Services Act, which created the environment for the arrival of foreign banks, free zones and call centers, will be modernized.
The government of El Salvador is preparing amendments to the Law on International Services, which in its time allowed a multiplication of foreign investment in the financial, telecommunications and the maquila sector among others.
Amid complaints of government harassment of private enterprise, its noted that in Nicaragua the costs are lower and "there are not too many obstacles."
Given some recent actions and tax proposals by the government of Honduras that have note been well received by employers due to their potential impact on business competitiveness, the president of the National Association of Industrialists (ANDI), Adolfo Facussé, is advising entrepreneurs to invest in neighboring countries, pointing in particular to Nicaragua.
About 16 reforms have been made, driven by a need to improve the environment for doing business in the country.
Two major reforms reported by the Government to the World Bank in preparation for the next Doing Business ranking are the modification of procedures for paying income tax (Tax Law Update) and installation of an electronic payments system for Social Security Institute (IGSS in Spanish) payments.
The government is preparing drafts laws on insolvency, real estate collateral and electronic signatures.
The Government is refines this package of draft laws in order to influence and improve the business climate in El Salvador, following complaints from the private sector, reported Elmundo.com.sv.
The Vice Minister of Commerce and Industry, Armando Flores, explained that these measures are an effort to reverse the negative trend has been reflected by the country in Doing Business 2012, a World Bank report.
An official mission will visit Taiwan looking to boost the country's investments in Nicaragua and strengthen bilateral relations.
Nicaraguan officials will hold meetings with the Minister of Foreign Affairs, officials from the Ministry of Economy and Affairs Council of the Republic of China (Taiwan) among others.
"Last year, Alvaro Baltodano, presidential delegate for investment, confirmed that two Taiwanese companies would be installed in the country, one manufacturing solar panels and another making cardboard boxes, but they did not specify the amounts of such investments.
The investment agency is trying to persuade Japanese corporations to establish sites in Panama, having already convinced the company Tadano, manufacturer of hydraulic cranes.
Last November, the Bureau of Investment Attraction and Export Promotion in Panama (PROINVEX) moved the conference "Invest Panama" to Tokyo, in order to turn the attention of Japanese corporations towards the country.
The Salvadoran government is preparing a package of incentives to attract investment to the country, which will be presented in October at an international forum for investors.
Among the laws that are to be analyzed are the law on international services, the law on free zones, the investment law, and reducing red tape and other things.
Alexander Segovia, Technical Secretary of the Presidency said that they are "...
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.
Legislation packages are being prepared to grant exemptions to exports, logistics and industrial parks.
The government and employers are holding talks regarding legislative proposals and measures to attract more foreign investment.
Sergio de la Torre, Minister of Economy, said there is a package of new laws which will be submitted to Congress within six weeks, which includes, Act on Investment Incentives, Employment and Productivity, Competition, Employment Inclusion, and Microfinance.
The governments of Costa Rica and India are negotiating an Economic Cooperation Agreement and an Agreement for the Promotion and Reciprocal Protection of Investments.
A statement by COMEX reads:
Visit to Delhi pays off
- Minister unveils opportunities for trade, investment and cooperation.
- Indian authorities examine proposed agreement for the promotion and reciprocal protection of investments.
Representatives from the government and private enterprise are looking to India for business opportunities and attracting investment.
From a press release from the Costa Rican Ministry of Foreign Trade (Comex):
A delegation led by the Minister of Foreign Trade, Anabel Gonzalez, will visit India next week, along with representatives from the Foreign Trade Promoter (PROCOMER) and the Coalition of Development Initiatives (CINDE).
The Government is emphasizing the understanding and agreement between employers, workers and officials on issues like the minimum wage.
Nicaragua seeks to position itself as an attractive and reliable place for foreign investment and to attract innovative projects, states the investment promotion agency ProNicaragua, which is preparing three business forums this year.
A group of representatives from the private sector and the university sector have created a Competitiveness Council (CPC in Spanish).
In order to attract more foreign investment, among other things, the group composed of professionals and academics have decided to create a group to provide recommendations to the government to improve competitiveness.
The website http://guatemala.eregulations.org provides information on procedures for conducting business in the country.
Information is detailed on procedures, costs, contacts, forms and public office documents.
The initiative is part of the e-Regulations system, driven by the Global Transparency Network.
The system is a step towards the implementation of e-government and a tool for simplifying administrative processes, by identifying unnecessary steps in the different procedures, said Romeo Rodriguez, coordinator of the National Competitiveness Program", reported Prensalibre.com.
Ruben Dario’s country, shows a panorama - unsuspected only a few years ago - of the successful relationship between the government’s policies and business goals.
A report by Pastrán details how activities and discussions by businesses and government representatives, are in agreement ensuring stability and economic growth for years to come.
"Private entrepreneurs and representatives of large capital today have became the best managers in the Nicaraguan government in the face of potential new foreign investors, offering a country full of opportunities ... A forum organized by the government investment agency that promotes investment, Pro Nicaragua, and the Council for Senior Private Enterprise, COSEP, reflected another country, rife with consensus and enthusiasm for the Nicaraguan government’s economic policies, while the political opposition and social agencies reported the establishment of a dictatorship and claim alleged fraud in the November 6 elections ... The government of Nicaragua said today to a group of potential foreign investors that the country has sufficient economic stability and will continue in the program with the International Monetary Fund beyond 2012 ... Presidential adviser for economic affairs , Bayardo Arce Castaño, noted that economic growth has been achieved because all the operators of any size and any color are supported and that you must keep in mind that in order for growth to become a reality you have to shore up the country's macroeconomic stability...”