Plans are afoot to boost coastal areas as a center of tourism development, agribusiness and marine resources with funds from the US Millennium Challenge funds.
The Salvadoran government could be managing $277 million to be provided by the MCA (Millennium Challenge Corporation MCC) of the U.S. government to create development centers in coastal areas which have great potential.
The coastal areas contain half of the most fertile land in the country with substantial resources for fisheries and tourism.
With the implementation of Fomilenio II in the coastal area of El Salvador, there is great opportunity for the development of agriculture, leveraging funds expected to be provided by the U.S. government with a counterpart by the Salvadoran government, in addition to the private investment that could go along with production projects.
The phenomenon is concentrated on the Pacific coast in Guanacaste with buyers mainly being foreigners and locals from the upper middle class.
The area of Tamarindo in Guanacaste's Gold Coast leads sales in 2014 in the real estate market in Costa Rica, helped by the increasing preference of investors for enclosed coastal districts, first class tourist infrastructure with beaches near to Liberia International Airport, and legal certainty for investment in properties.
Reduced paperwork, standardized municipal tax rates and improved infrastructure are the things being demanded by the private sector in El Salvador in order to develop projects like Fomilenio II.
Representatives of government and the Association of Coastal Marine Tourism Developers (Promar) held a meeting this week in which Promar presented its portfolio of projects for the development program Fomilenio II.
As part of the proposal for Fomilenio II, the government has announced several projects for creating a nucleus of attractions in various parts of the coastal zone.
Among the plans for the development program FOMILENIO II using funds from the U.S., the National Institute of Tourism is promoting the creation of tourist development as part of a strategy that aims to increase tourist visits and create more jobs for the sector.
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