Addressing a select group of industry captains at an interactive session organised by the Bangalore Chamber of Industry and Commerce (BCIC) today in Bangalore, HE Ariel Andrade Galindo, Ambassador of El Salvador to India sent out an open invite to Indian companies to expand their business horizons by forging new alliances in the form of technology, business collaborations and exchange of ideas in the sectors of Information Technology (IT) and Energy sectors.
Since Bangalore is the IT Hub, El Salvador is very keen on having business tie-ups in the IT sector.
El Salvador is also opening its doors to sectors like Agroindustry, Light Manufacturing, Textile and Apparels and Tourism among others with El Salvador counterparts.
HE Ariel Andrade Galindo, Ambassador of El Salvador said: “We have developed a legal framework that facilitates and guarantees protection of investments because we are interested in developing a long-term relationship with investors. El Salvador is a cost-competitive country to set up and operate a business in the region. It has free zones and service parks that stand out for their strategic location and easy access to competitive infrastructure”
HE Ariel Andrade Galindo further said: “As part of our commitment to attract investment, we have implemented attractive tax incentives. El Salvador is the most competitive country in Central America in terms of benefits paid by employer. In addition, one of our main advantages is our labour force, world famous for its industriousness, efficiency and work ethic.
According to The Index of Economic Freedom published by The Wall Street Journal and the Heritage Foundation in 2018, El Salvador’s economy is among the freest in the region. It is ranked the third in Central America and ninth in Latin America. El Salvador also stands out in investment freedom, which indicates the country’s strength to maintain free trade politics that promote investments.
On the other hand, Mr. Kishore Alva, President BCIC and & Joint President and Executive Director, Adani - Udupi Power Corporation Ltd. showcasing IT prowess of India to the Ambassador, as El Salvador is keen to have Indian IT companies to set up bases in El Salvador said: “We are the topmost offshoring destination for IT companies across the world. Having proven our capabilities in delivering both on-shore and off-shore services to global clients, emerging technologies now offer an entirely new gamut of opportunities for foreign countries using Artificial Intelligence, Machine Learning, Blockchain, Cloud Computing, Robotics to name a few. Since you are specifically looking at IT sector, we can facilitate tie-ups based on your requirement.”
Mr. Kishore Alva further said: “We assure you that we shall work with you to support your country’s agenda in any other sector you want us to, by way of forging new joint ventures and alliances in the form of technology transfer, business collaboration or exchange of ideas.”
The select group of Industry captains representing different industry verticals interacted with HE Ariel Andrade Galindo, Ambassador of El Salvador to India to explore business opportunities in El Salvador.