Businessmen Ask for Better Investment Climate

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.

Thursday, April 26, 2012

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.

"Marco Guirola, president of Promar, during the meeting, listed what are, in his opinion, the biggest obstacles to attracting foreign direct investment (FDI)", reported Elmundo.com.sv.

Lengthy administrative procedures, lack of a uniform rate of municipal taxes, poor infrastructure and poor promotion of competitive investment in the tourism sector, were the elements mentioned by the businesses in Promar, who also proposed setting up an agency to attract investments with the participation of private enterprise.



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In order to attract the attention of investors, entrepreneurs have created a portfolio of six major projects for tourism development.

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PRONicaragua, is the Nicaraguan Investment Promotion Agency, established in 2002. We are a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The Agency provides complimentary support services to qualified investors seeking investment opportunities in our country.
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