September 1, 2009
Economic Development Web Portal for El Salvador’s Northern Zone Launched
On August 26th, the U.S. Governments Millennium Challenge Corporation (MCC) joined with the U.S. Trade and Development Agency (USTDA) to host a public outreach meeting with Salvadoran Diaspora business leaders, the Embassy of El Salvador in Washington and local regional consulates in Virginia, the Salvadoran Foundation for Economic and Social Development (FUSADES), and FOMILENIO, the implementing agency of MCCs $461 million grant with El Salvador, to explore investment opportunities in El Salvadors Northern Zone. The groups met to launch an interactive web portal which highlights the propitious business climate as well as investment and trade opportunities in the region.
The event showcased the positive collaboration between the US Government, the Government of El Salvador, FUSADES and Salvadoran entrepreneurs in facilitating investments and partnerships that will build on MCCs investment in long-term economic growth projects in El Salvador.Of the event, MCC Deputy Resident Country Director Kenny Miller said, Reaching out to private investors is the only way MCC can guarantee sustainability in our multi-million dollar investments.Our hope is that Salvadoran business leaders living in Washington DC and elsewhere will use this new web portal and look to the Northern Zone to invest back in their homeland and thus leverage our investment to create new jobs and wealth in El Salvador.
The new web portal at www.epridex.org, funded by USTDA and developed by IOS Partners, Inc. and IOSsoft Inc for the investment and export promotion center (PRIDEX) at FUSADES will provide up-to-date information to suppliers and investors regarding business opportunities, incentive plans, the fiscal operating environment and tax laws applicable to El Salvadors Northern Zone.It will also provide a consolidated source for information on value-chain investment portfolios, financial incentives available to potential investors, a directory of offices and key personel available to faciliate investor interest and other complementary information for interested parties for potential joint ventures and partnerships. This portal builds upon and complements El Salvadors MCC grant which is working to improve highways, roads, electricity, water, communications and business support services.
MCC, a U.S. Government agency designed to work with developing countries, is based on the principle that aid is most effective when it reinforces good governance, economic freedom, and investments in people that promote economic growth and elimination of extreme poverty.MCC has signed Millennium Challenge Compacts with 18 countries totaling $6.4 billion.For more information, please visit www.mcc.gov.