El Salvador: $ 2,000 Million Investment Frozen

At least seven projects are stalled, waiting for the country's situation to improve.

Wednesday, November 17, 2010

Newspaper elsalvador.com detailed major investment projects which are on stand-by in El Salvador:
- Cutuco Energy and AES Fonseca (energy, $ 1,630 million)
- Porto Pango (tourism, $ 300 million)
- Encanto Villas & Golf (residential, $ 100 million)
- Europlaza World Business Hotel (tourist and business)
- Q Towers (residential and business).

The reasons behind the decision to halt these projects are varied, and include difficult domestic and international economic conditions, poor public security and political and legal uncertainty.

The article adds that most of these initiatives would resume in 2011, when the country's situation improves.



More on this topic

Government Advertising Cut by 12%

March 2013

The public sector in Costa Rica plans to spend $112 million on advertising and propaganda during the 2013, which is a drop of 12% compared to the previous year's budget.

A report by the Comptroller General of the Republic, has revealed that other items such as foreign travel or entertainment expenses will also be cut in 2013.

Investment Down 17% in El Salvador

May 2010

This was stated by The National Development Foundation during the forum “Analysis of the country’s economic situation and its perspectives”.

Forum participants are discussing the economic situation of the country, after one year of having president Mauricio Funes in charge.

Foreign Investment Drops 26% in Panama

March 2010

In 2009, Foreign Direct Investment (FDI) was $1.77 billion, 26.2% less than in 2008, when the country received $2.4 billion.

Experts agree that the world economic crisis had strong negative effects on the country, especially in banking and the Colon Free Zone.

“Aristides Hernández, from consulting firm BDO, considers that FDI volume in 2009 was not that bad, considering the crisis and that the historic average has been less than $1 billion per year”, reported Laestrella.com.pa.

Financial crisis affects investment in Guatemala

October 2008

Foreign companies delay their investements in Guatemala because of financing difficulties.

The global financial crisis is affecting Guatemala, foreign direct investment has diminished due to the unavailability of credit, and several companies are delaying their plans for investing in the country.

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