El Salvador: Government's Plan Will Not Replace 'Drawback'

Exporters are concerned that the government's $175 million investment in the sector will not make up for the loss of incentives.

Thursday, August 5, 2010

El Salvador's Corporation of Exporting Companies, known as COEXPORT, believes the impact on the export sector of the $175 million government investment plan will be minimal.

Francisco Bolaños, president of COEXPORT, told Laprensagrafica.com that, "according to our calculations, the employment bonus will cover around 4,000 jobs while job losses are in the region of 28,000. This is an example of where the budget falls short. Let's remember that the main aim is to create jobs and this is why much more is needed".



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El Salvador’s Export Strategy Fails to Convince

July 2010

While exporters acknowledge that the strategy includes some useful instruments it is does not go far enough for the development of the sector.

El Salvador’s Corporation of Exporting Companies, known as COEXPORT, has reviewed the new Integrated Strategy for the Promotion of Exports (EIFE) and found no substitute for the “drawback” instrument, an import duty rebate triggered by the re-export of goods that were initially imported.

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