El Salvador: Reform of Law on International Services
The International Services Act, which created the environment for the arrival of foreign banks, free zones and call centers, will be modernized.
Thursday, May 17, 2012
The government of El Salvador is preparing amendments to the Law on International Services, which in its time allowed a multiplication of foreign investment in the financial, telecommunications and the maquila sector among others.
The Salvadoran government is preparing a package of incentives to attract investment to the country, which will be presented in October at an international forum for investors.
The government is preparing drafts laws on insolvency, real estate collateral and electronic signatures.
The Law on Legal Stability for Investments has been approved, which aims to improve confidence in the country preventing changes to incentive schemes granted to foreign companies.
International investors, including Carlos Slim, are to meet in an economic forum to evaluate more than 100 development projects in various sectors.
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