Due to the dismissal of high ranking officials of the justice sector and the fact that President Bukele has strained his relationship with Washington, Salvadoran businessmen foresee an uncertain future for US investments that may come to the country.
After the dismissal of the magistrates of the Constitutional Chamber and the Attorney General in El Salvador, the business sector affirmed that this situation was "facts that consolidate an attack against democracy and threaten the liberties of Salvadorans."
After the dismissal of the magistrates of the Constitutional Chamber and the Attorney General in El Salvador, the business sector affirms that these are "facts that consolidate an attack against democracy and threaten the liberties of Salvadorans".
In the elections held last February 28, Nuevas Ideas, a party led by president Nayib Bukele, achieved a resounding victory that allows it to have a qualified majority in the Legislative Assembly.
After Nuevas Ideas, the party led by president Nayib Bukele, achieved a convincing victory that would allow it to have a qualified majority in the Assembly, the country will face a scenario in which this political group would have enough power to make transcendental decisions.
Arguing that the number of infections and deaths is increasing quickly because of the spread of covid-19, President Bukele decided to postpone the entry into force of the second phase until July 21.
Initially, the second phase of the economic reopening process was scheduled to begin on July 7, and would include the reactivation of the plastic, paper, cardboard and footwear industries, as well as call centers, restaurants and mass transportation.
Although the President of El Salvador seeks to maintain absolute quarantine, the Legislative Assembly of that country approved a law that establishes the measures that will be applied to gradually resume labor and economic activity, in both the public and private sectors.
The approval of this legal framework, which establishes four phases for the reactivation of the economy, takes place in the context of strong tensions between the Executive and the Legislative, who have had different criteria regarding the home quarantine, to which the population was subjected due to the outbreak of covid-19.
In order to contain the spread of covid-19, the government decided to extend the mandatory home quarantine until May 6.
Initially the authorities had decreed that the mandatory home quarantine would be in place from March 21 to April 20, however, President Nayib Bukele announced that it would be extended for another 15 days.
The president of Guatemala offered the neighboring country to explore the possibility of El Salvador having a maritime cargo terminal in the Guatemalan Atlantic, a proposal that generates doubts among exporters.
The announcement was made on January 27th, during a meeting between Alejandro Giammattei and Salvadoran President Nayib Bukele, on the occasion of the signing of the open skies agreement.
Nayib Bukele announced that his administration will implement the "Economic Takeoff Plan", which aims to create the conditions for the economy to grow above 3.5%.
The plan will focus on articulating government efforts in the agricultural sector, telecoms through connectivity and education focused on preparing the new generations in the framework of the fourth industrial revolution.
The construction of a stadium and the national library, as well as the development of infrastructure in tourist areas, are some of the projects that would be financed by the Asian giant in El Salvador, as part of its non-reimbursable cooperation programs.
As part of the non-refundable assistance, China will support the construction of six projects, including a new National Library, a national stadium and a Surf City project, in order to promote joint development and increase the well-being of both peoples, the Chinese Embassy in El Salvador announced on December 3.
Nayib Bukele returned to the Legislative Assembly the reform to the law of Free Zones that granted tax benefits for an additional period of 10 years to companies in the country to increase their investment in 100% with respect to the initially made.
On August 29, 2019, the Assembly informed that the Legislative Plenum endorsed the reform to the Law of Industrial and Commercial Free Zones, establishing that the users of these zones would have a term of 10 additional years (before there were five) to continue enjoying total exemption from taxes, which would be applicable once the period established for the regular enjoyment of this benefit expired.
After the Salvadoran president announced the possible installation of an International Commission against Corruption and Impunity, the business sector asked to "evaluate the experiences of Guatemala and Honduras.”
After Bukele reported that before his 100 days in office he would present a proposal to install an international commission in the country, the National Association of Private Enterprise (ANEP) said it is essential to comply with the law and that there must be real political will to fight corruption.
President Bukele announced that he would be considering suspending the controversial construction project of the El Chaparral hydroelectric dam, whose development began 10 years ago and has yet to see the light.
Remaining loyal to his style, Salvadoran President Nayib Bukele announced on Twitter that he is evaluating the possibility of suspending the project and raising the case for investigation by the Attorney General's Office.
The Salvadoran government announced that it will accelerate the delivery of permits for several construction projects pending from previous administrations, valued at more than $1.4 billion.
Directors of the Ministry of the Environment and Natural Resources (MARN), who are part of the new administration of President Nayib Bukele, specified that the aim is to deliver as soon as possible the files that were retained by old authorities and that the mission is to streamline the procedures but not to make them flexible.
Producers in El Salvador asked President-elect Nayib Bukele to manage financing for the renovation of the farm, create a research center and protect the sector by regulating imports.
Through a letter sent to the president-elect on March 18, the Asociación Cafetalera de El Salvador (Acafesal) raised the need for $200 million in funding to renovate the coffee park.
With promises of a "different policy," ex-mayor of San Salvador, Nayib Bukele, won the presidential elections in El Salvador, which for the past 30 years has been governed by the traditional ARENA party and the FMLN.
The most updated data from the Supreme Electoral Tribunal of El Salvador show that after processing 99.94% of the minutes, the party GANA obtained 53% of the votes, followed by the Coalition of parties ARENA, PCN, PDC and DS, with 32%, the FMLN, with 14%, and Vamos, with 0.78%.