Putting Innovation at the Centre of El Salvador’s Economy

El Salvador’s Minister of Economy, María Luisa Hayem, joined Canning House for a business breakfast in which she focused on Salvadoran economic successes, which are facilitated by technological innovation and security.

The Minister’s primary focus was to explain the economic growth during her tenure, which has been driven by wider private sector engagement. She has been focused on creating trust between the government and the private sector, which in turn can attract investment and drive economic growth. GDP growth in 2025 was at 3.9%, despite adverse global conditions. The Minister explained that El Salvador is targeting specific industries that can provide a boost to the economy: aerospace, construction, semiconductors, and tourism were all highlighted for their recent growth. These sectors have grown significantly alongside the high-profile tech developments in El Salvador.

Technological innovation is at the heart of the Minister’s agenda. Her digitalisation strategy is encouraging businesses to adopt AI, where it can drive growth, much like the government has been doing. She was explicit in her desire to remove bureaucratic barriers from businesses to build their capacity. The country’s pro-technology stance has attracted attention from start-ups and created partnerships with Google, AWS, and Meta alike. This is part of a wider effort to attract more FDI, particularly in labour-intensive sectors that will generate jobs and facilitate upskilling, not just in technology.

The Minister acknowledged the high-profile approach to security that President Bukele has taken. She was supportive of the security measures, stressing that El Salvador’s recent safety is allowing people to invest more, start businesses, and create long-term plans. She explained that economic growth was previously blocked by the lack of security.

Canning House thanks the Minister for sharing her experience of shaping the Salvadoran economy and to our participants for joining an enriching and informative conversation.