Government bets on simplification of procedures to encourage investments

April 25, 2022
Investment , News

The Ministry of Economy (Minec) has established as one of its main focuses for 2022 the growth of investments, an indicator that drives the development of communities. In this sense, so far this year, significant progress has been made in the simplification of procedures.

The head of the Minec, María Luisa Hayem, explained that the Government’s commitment is to eliminate the red tape and bureaucracy which, according to her analysis, was the biggest obstacle to the dynamization of the economy in recent years.

The State portfolio seeks to streamline 685 procedures in 13 government institutions, including the Ministry of Health (Minsal), the National Registration Center (CNR), the National Directorate of Medicines (DNM), the Fire Department, the Directorate of Hydrocarbons and Mines of the Ministry, the Ministry of Agriculture (MAG), the General Directorate of Customs, the Ministry of Tourism (Mitur), the Ministry of Environment (MARN) and the Ministry of Public Works (MOP).

“All government institutions are joining efforts so that the bureaucracy that was a barrier in previous years, today is an opportunity to attract more investments”, said Hayem

According to the official, an investment of $5 million has been made in the project. With this, the Government is currently responding in a maximum of one day to 184 of these procedures, which are requested by natural and legal persons.

“The objective is to digitalize the minimum requirements to safeguard the environment and the health of Salvadorans, but not to turn them into a blockage for attracting investment,” she added.

Likewise, Minister Hayem explained that the average time to export is 5.3 minutes, when before this could take up to 72 hours.

On the other hand, the administration of President Nayib Bukele has initiated a process of digitalization of state processes and so far 27 procedures have been intervened. In a next phase, the goal is that all institutions can be connected, so that, for example, if the Minec requests a procedure from a company, another ministry or another autonomous agency will not have to request the same documents again.

“This is going to have a significant impact on the business climate in our country. The objective is to reduce the time and costs for companies to produce,” said the minister.


Source: Diario El Salvador

Share this

Related posts

top page