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El Salvador to participate in AdvaMed2013

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PROESA, the Export and Investment Promotion Agency of El Salvador, will be attending AdvaMed2013, the MedTech Conference. This will take place at the Walter E. Washington Convention Center from September 23rd to 25th. PROESA’s main goal at AdvaMed2013 is to promote investments in the Medical Devices sector in El Salvador. 

 

International medical devices manufacturing companies will find in El Salvador a strategic partner that offers a low cost platform with rapid access to the North, Central and South American markets.Furthermore, companies established in El Salvador can take advantage of its free trade agreements, tax incentives and low operating costs.

Key opportunities in the sector include:
 
  • Investment in manufacturing plants of:

 

  • Medical supplies:
  • Laboratory and diagnostic equipment
  • Wound care supplies
  • Hospital linen and surgical gowns
  • Orthopedic products:
  • Prostheses and orthoses
  • Hospital furniture

 

  • Investment in logistic centers:
  • Distribution centers
  • Packaging of medical devices

 

 
According to established foreign investors, low labor costs combined with highly productive employees is El Salvador´s most valuable advantage. For instance, in the FDI Intelligence Report “Caribbean and Central American Countries of the Future” 2011/2012, El Salvador was awarded “best cost effective country” and ranked 7th place in “Best human resources”.
 
 
For further information about investment opportunities in El Salvador, please contact Carolina Vides - PROESA’s Medical Devices Investment Advisor at Esta dirección de correo electrónico está protegida contra spambots. Usted necesita tener Javascript activado para poder verla.   or visit www.proesa.gob.sv. You can also contact Enilson Solano, Minister Counselor at the Embassy of El Salvador in Washington at Esta dirección de correo electrónico está protegida contra spambots. Usted necesita tener Javascript activado para poder verla.
 
 
El Salvador at a Glance
 
  • Area: 21,041 km2
  • Population: 6.2 million
  • GDP 2012: USD 23,864.6 million (Agriculture 11.4%, Industry 26.3%, Services 62.3%)
  • Real GDP growth, 2012: 1.9%
  • Inflation, 2012: 0.8%
  • TradeAgreements: Chile, Central America, Colombia, Cuba, UnitedStates, Mexico, Panama,DominicanRepublic, Taiwan,EuropeanUnionand Venezuela
  • Doing Business 2013: 3rd placein Central America and 11th in Latin America
  • Global Competitiveness Report (2013 – 2014): 11th most competitive economy in Latin America
 
Why El Salvador?
 
  1. Strategic Location:El Salvador’s geographic location enables a short access time to major cities in North and South America. The country is on the same time zone as U.S. Central Standard Time (CST). It offers a natural two oceans logistics corridor, proximity to the Transpacific maritime route and to the Panama Canal.
  2. Preferential Access to International Markets:Multiple trade agreements provide preferential access to more than 1.2 billion consumers in 44 countries around the world. El Salvador has trade agreements with Central America, Chile, Colombia, Cuba, Dominican Republic, European Union, Mexico, Panama, Taiwan, United States and Venezuela. Likewise, El Salvador is in negotiations to sign trade agreements with Belize, Canada, Ecuador and Peru.
  3. Attractive Tax Incentives:The country’s legal framework provides full exemption from income tax, municipal taxes, taxes on transfers of real-estate property as well as customs duties and taxes on the import of machinery, equipment, raw materials and other articles used in the production of goods and services.
  4. Competitive Costs:El Salvador is the most cost-competitive country to set up and operate a business. In 2011, the Financial Times investment journal fDi Intelligence classified El Salvador as the most cost effective country in Central America and the Caribbean.
  5. Monetary Stability:El Salvador dollarized its economy in 2001, therefore offering greater certainty to investors as a result of the elimination of foreign exchange risk and lower transaction and financial costs as compared to non-dollarized countries.
  6. Productive Labor Force:Investors certify that Salvadoran labor force is world-famous for its industriousness, efficiency and work ethic. Approximately 60% of the labor force is 39 years or younger, making it a predominantly young and highly productive country.
  7. Competitive Infrastructure:The World Economic Forum (WEF) places El Salvador’s infrastructure among the most competitive in Latin America and thebest in the Central American region. Modern port, airport and road infrastructure enable efficient logistical operations, whilesolid and advanced telecommunications and electricity markets guarantees access to high quality and cost-competitiveservices.
Actualizado 09/20/2013
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