El Salvador defends bitcoin and better security for foreign investors

The Minister of Finance of El Salvador, Alejandro Zelaya, defended this Monday in Spain his country’s commitment to the bitcoin cryptocurrency and the improvement of security in recent years to attract foreign investment.

At the headquarters of the Spanish employers association ( CEOE ) in Madrid, Zelaya explained the attractions of the Central American country for Spanish companies wishing to establish themselves in his country, which has incentives and tax exemptions for foreign investment.

“All currencies are at risk of collapsing, we are not de-dollarizing, we believe in the dollar as a means of payment, but we have to have options and bitcoin and cryptocurrencies in general are advancing, it is up to me as the authority to regulate it and take advantage of the benefits it can give” , he claimed.

Along these lines, he valued the customs agreement with Honduras and Guatemala that equalizes taxes in the Central American region, as well as that the country’s “exchange risk” “is much lower” when using the dollar.

THE IMPROVEMENT OF SECURITY, ESSENTIAL FOR THE INVESTMENT

The minister recognized that his country needs to offer legal certainty and security in the streets so that companies can establish themselves and assured that the rate of homicides and other crimes has been reduced since President Nayib Bukele came to power.

“Many security problems stalled part of the investments in the past, there were areas where there was no investment in tourism or infrastructure” , recalled the minister, who reported that, along with health and education, security is the issue in the one that puts more effort his Government.

“All of us present here know that security is the greatest driver of the economy,” he added.

Likewise, he emphasized the “friendly” character of the legislation for investments, as well as “government management as fast as that of the private company”.

LEVERAGE THE DIASPORA

Zelaya explained that the country has a population of 6.5 million people, with 3.3 million living in the United States and another half million in various other countries.

“We are a country that migrated a lot, but we are supporting the use of the diaspora to promote the country, it is a very interesting platform for entering the US,” he added.

He also referred to the school and hospital infrastructure renovation plan, for which they are building new buildings and fixing old ones and providing modern tools to citizens, he said.

“We have distributed 1.4 million computers to public school students, something that will close the technology gap,” he added.

Finally, he stressed that the country offers wide sectors and opportunities to invest and that “the first one who arrives will be able to benefit the most.

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