El Salvador proposed as a strategic point to establish investments from India
Indian businessmen from the fields of renewable energy, recruitment, digital payment platforms, product manufacturing, industrial, construction and manufacturing showed their interest in El Salvador’s potential to make investments.
The approach was part of a virtual forum in which 30 member companies of the Confederation of Industry of India (CII) participated with counterparts from El Salvador, through which officials from the Central American country sought updates on the business climate, progress in projects strategies and the exportable supply of the country.
The IIC has 9,000 direct members from the public and private sectors, including SMEs and multinationals, and some 300,000 indirect members in 133 countries around the world.
According to the presidential commissioner of Strategic Projects of El Salvador, Cristian Flores, in the forum, managed by the Foreign Ministry, the country was proposed as a strategic point in the region for the establishment of operations.
Vice Foreign Minister Adriana Mira also said that through this activity she aimed to attract investors from India to El Salvador, “with the purpose of promoting trade relations and promoting strategic projects.”
The official added that the participating companies identified sectors with investment opportunities, such as aeronautics, agribusiness, renewable energy, light manufacturing, technology services, textiles and clothing, and tourism.
According to Mira, the government “is committed to generating investment opportunities that promote development and economic growth, as well as positioning El Salvador in the international market.”
The vice chancellor also met this Thursday with the Minister of State for Foreign Affairs and Culture of India, Meenakshi Lekhi, to strengthen joint work for the benefit of both countries.
Diplomatic relations between both nations date back more than 44 years. As of November 2022, exports to India totaled US$1.3 million and imports US$253 million, according to the Central Reserve Bank (BCR).
With information from Bloombery
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