Partnership for growth el salvador united states

Goal 5: Support a strategy for attracting and promoting FDI and making El

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Goal 5: Support a strategy for attracting and promoting FDI and making El
Salvador a more attractive place for foreign investment. The measures described
are aimed at streamlining the establishment of operations for potential investors
and simultaneously focusing on scaling up efforts to promote and attract
Behind Schedule
Despite some progress to strengthen PROESA’s internal capacity, the GOES did not name a permanent director to the agency. (Note In August, after this reporting period, the draft legislation on PROESA was finalized and presented to political parties for their discussion along with the reforms to the Public-
Private Partnerships Law (PPP), which represents a crucial step for advancing on a strategy to attract foreign investment) As part of capacity development, USG-contracted consultants finalized and presented the results of a benchmarking diagnostic identifying PROESA’s strengths and opportunities. The Feasibility Study for the Development of the Aeronautics Industry in El Salvador was concluded, with the objective of fomenting development and promoting investment in this sector. PROESA initiated an English language training program for job seekers 942 people were evaluated and 650 are schedule to receive training in the next 18 months. In the first half of 2013, $11 million in new investments were recorded, creating 1,529 new jobs. In terms of business climate improvement through local governments, the Municipality of Santiago Nonualco signed a Transparency and Competitiveness Pact, bringing the total number of signed pacts to 48. Nejapa formed and swore in its Municipal Competitiveness Committee, bringing the total number of these committees to 50. Finally, the El Salvador Investment Challenge, proposed by GOES as part of a potential second compact with MCC, received 74 investment proposals. First indicator foreign direct investment flow as a percentage of GDP, which increased from 1.8% into in 2012. Second indicator FutureBrand’s Country Brand Index which for 2012-2013 was 107 out of 118 countries (reported in the previous Scorecard. Note from this Scorecard onward, the indicator used to measure FDI is different than that used in previous reports.

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