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El Salvador offers investment opportunities for Indian companies

Mar '07
Market-oriented reforms and commercial openness are the key benefits for Indian business community to invest in El Salvador said Mr. Francisco E. Lainez, Minister of External Relations, El Salvador in a meeting organized by the Confederation of Indian Industry here on Wednesday.

Mr. Francisco E. Lainez is leading a high-level Ministerial and Business Delegation from El Salvador to promote two-way trade with India. El Salvador is one of the three countries in Central America with investment grade and can be trade access gate to entire market of Central America, said the Minister.

He also mentioned that, El Salvador could provide tariff-free access to EU through generalized System Preferences and have favourable free trade treaty with United States. Re-privatization of banking system and monetary integration law makes El Salvador a favorable investment destination, he added. Mr. Lainez also said that tourism is a lucrative business sector for investors and the government is looking at Indian investors to explore new opportunities.

The minister said the potential areas of investment for trade are food processing industries, IT education, science and technology, ITES including Business process Outsourcing, Textiles, Auto Industry, Tourism, Healthcare and Pharma, Leather goods and Real Estate.

Mr. R Vishwanathan, Joint Secretary – LAC, Ministry of External Affairs, Government of India said that bilateral trade between two counties could be enhanced further by providing multi-entry visa to Indian business professionals, and facilitating registration of companies in El Salvador. He also recommended the opening of El Salvador Embassy in India.

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