A third and final call has started for companies and investors interested in participating in the development of projects in the program 'Apuesta por InversionES'.
Applications are open for national and international companies with the financial capacity to invest anywhere in the country.
Elsalvador.com reports that "...Interested investors should do so in a new project or expansion of an existing one in the category of tradables, which includes goods or services that can be traded internationally, said a statement issued by Fomilenio II.These are projects that can be set up in any part of the country, with a minimum investment of $100,000 by the applicant. "
The momentum in this sector needs more services and port infrastructure in order to consolidate and join the global growth of this industry.
The region needs to improve port infrastructure in order to be able to receive the new boats which are becoming bigger and bigger and with this take advantage of the 20% growth that is projected in the next season.
After a first attempt to consolidate a core of companies engaged in providing medical services to foreigners, efforts are now being made to create an association for promoting medical tourism.
The country is looking to position itself within the medical tourism industry globally, growing at an accelerated rate of 30% annually.
In order to give a boost to medical tourism, a group of Salvadorans are promoting the creation of an association to promote health and to focus on niches that the country can exploit. "The partnership will look out for the interests of the sector, monitoring and ensuring that the people working in it do it well," said Mario Cruz, medical director of Equitec.
Private investors have had their interest aroused by opportunities offered by the second agreement with the Millennium Challenge Corporation for development of the coastal and maritime zone.
The government of El Salvador expects to sign a second agreement with the Millennium Challenge Corporation (MCC) of the United States to promote projects in the coastal area of the country, called Fomilenio II.
In order to attract the attention of investors, entrepreneurs have created a portfolio of six major projects for tourism development.
The Association of Coastal Marine Tourist Developers (Promar in Spanish), led by renowned Salvadoran entrepreneurs, recently presented the Government with an ambitious portfolio of six mega resorts with high potential to attract investment to the country, to be run in the next 14 years, and which is valued at $2 billion.
The proposal presented by the Ministry of Tourism would reduce the minimum investment necessary to qualify for the incentives.
Napolén Duarte, Minister for Tourism, indicated that the intention is to halve the amount required, which currently stands at $50,000.
In an article in Laprensagrafica.com he is quoted saying, "we are working on presenting a reform to the president to update the law with the aim of allowing smaller investments and giving more opportunity to small and medium sized businesses".