IDB Invest granted an $8 million loan to American Industrial Park, owner of an industrial park in El Salvador, to invest in expansion works and the installation of a photovoltaic park for self-powered electricity generation.
The financing, with an 11-year term, will enable American Industrial Park (AIP) to maintain its competitiveness over the medium term by expanding its 17,000 square meter industrial roof. This will enhance the development of this new industrial area, reported BID Invest, a member of the IDB Group.
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.
For the time that the State of Emergency is in effect, the authorities ordered the paralysis of the activities of the production plant of the company ADOC, located in Montecarmelo, Soyapango.
On May 14, the company faced an inspection by the Ministry of Labor, in which seven inspectors, escorted by agents of the National Civil Police, a contingent of soldiers from the Armed Forces and reporters, demanded to verify the working conditions in the production of supplies for the emergency, the company reported.
During 2019, 56 environmental impact studies for the construction of industrial plants were presented in Central American countries, and Costa Rica represented 58% of the estimated investment.
The interactive platform "Construction in Central America", of the Trade Intelligence Unit of CentralAmericaData, includes an updated list of public and private constructionprojects that present environmental impact studies (EIS) to the respective institutions in each country.
Faced with the health crisis affecting the Salvadoran economy, businessmen from the industrial sector asked the government to postpone income tax declarations until June 2020.
Another of the specific requests of the Salvadoran Association of Industrialists (ASI), is the prompt refund to exporters of Value Added Tax, through Treasury Notes.
If quarantine and mobility restriction measures are extended by two months, annualized demand for carton packaging in the region is forecast to decline by 9% in 2020, and if extended by three months, the decline could be as much as 13%.
From January to September 2019, imports of glass and its manufactures in Central America reached $220 million, and purchases from companies in China grew by 6% over the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption "Click to interact with graphics"]
After Monterrey business group completed the construction of its new industrial plant with capacity to produce 120 thousand tons of cement per year, the company is preparing to start selling in the local market.
In a context of slowdown in industrial activity and loss of jobs, the industrialists' union of El Salvador calls for a policy of attracting investment through incentives and reviewing and taking advantage of existing trade agreements.
El Salvador's industrial sector registered a 0.9% growth in the first half of 2019, two percentage points less than last year during the same period, a fact that shows that economic growth in El Salvador remains slow and low, remaining at 2%, reported the Salvadoran Association of Industrialists (ASI).
From January to June 2019, 35 environmental impact studies were presented in the countries of the region to build industrial plants, and Costa Rica concentrated 74% of the estimated investment.
The interactive platform "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private constructionprojects for which environmental impact studies (EIA) were submitted to the respective institutions of each country.
After in 2018 imports of glass and glass manufactures in Central America reported a slight decrease of 1% compared to 2017, in the first quarter of 2019 reported a 4% year-on-year decline.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAPHIC caption="Click to interact with graphic"]
In the municipality of Acajutla, the Monterrey business group began construction of an industrial plant with the capacity to produce 120 thousand tons of cement per year.
Executives of the company of Guatemalan origin, reported that the construction of the industrial plant will be done on a 10-block lot that is on the road connecting Acajutla and Sonsonate.
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In 2018, imports of glass and glass manufactures in Central America totaled $302 million, and 44% were bought by companies in Guatemala and Costa Rica.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
In the last ten years, the sector has grown by an average of 2% per year, which for businessmen reflects that the country has not managed to get out of the "low growth trap."
The Salvadoran Association of Industrialists (ASI), faced with the departure of the current government, analyzed the economic and industrial situation in the country in the 2009-2019 period and set out the prospects of industrialists for the new government.
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