El Salvador launches new platform for business development

In order to improve the competitiveness of local companies, the Ministry of Economy launched "INVENTA."

Wednesday, November 19, 2008

The system will seek to benefit those individuals with business ideas, and also Small, Medium and Large Companies.

The platform will manage and distribute information, it will facilitate the organization of specialized events, it will identify and link organization there by eliminating the asymmetry of information from all the industries and disciplines, expressed Ricardo Esmahan, Minister of the Economy.

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Salvadoran maquila exported 25% less

January 2009

Ricardo Esmahan, minister of Economy, estimates a 25% drop in the last two months of 2008.

According to reports from elsalvador.com "Ricardo Esmahan, minister of Economy, said yesterday that exports from the sector have been affected by the drop in textile consumption, not some much in value but in volume.

Inflation drops to 8.7% in El Salvador

October 2008

After scraping the double digits in August, annual point to point inflation decreased in September and settled at 8.7%.

The data, which shows a drop of 1.2 points, provides some relief to the Government which had promised to keep the final yearly index below 10.
"This is an index that has been maintained below the double digits, which was our objective and, given the tendency of the decrease in the cost of fuel at this time, I believe that we are going to reach our objective," said the Minister of the Economy, Ricardo Esmahan. The data was made public yesterday and put the accumulated inflation since January at 6.9%

Inflation goes up to 9.9% in El Salvador

September 2008

The increase in the price of basic grains and fuel has caused the consumer price index (CPI) to reach its highest level since the country dollarized its economy and the highest in the last 12 years.

These high levels of the CPI coincide with the period in which petroleum also reached all-time record highs, above $147 per barrel in July.

Salvadoran Congress ratifies FTA with Colombia

August 2008

The Congress of El Salvador ratified the FTA that the country, along with Guatemala and Honduras, negotiated and signed with Colombia in 2007 and which should come into force before the end of the year.

The ratification of the FTA "will strengthen trade, and at the same time will allow a greater flow of investment between El Salvador and Colombia," the Salvadoran Minister of Economy, Richard Esmahan, believes.

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