Ulloa meets potential investors and points to Bitcoin and inclusion as strategies

El Salvador’s Vice President Felix Ulloa in Russia. / Vice President.

The Vice President of El Salvador, Félix Ulloa, assured that the adoption of Bitcoin as legal tender and the establishment of a legal framework for financial inclusion to attract domestic and foreign investments are strategic actions of the Salvadoran government to address the challenges facing the economy of El Salvador.

He added to those strategies a “robust framework to promote transparency.”

According to the Vice President on electricity and so on.

Ulloa approved the “willingness to strengthen trade relations with Russia”, highlighting “companies focused on innovation, an area in which the Salvadoran government has a strong commitment”.

He touched on the issues of the Central American Integration System (SICA), a group of eight countries that together form the fourth largest economy in Latin America, and stressed the importance of increasing the participation of this bloc in the trade balance with the rest of the Russian market, taking this into account.

According to the vice president, trade between Central America and Russia in 2023 was $447 million, 20% less than in 2022 due to the war.

Ulloa held a meeting with companies of the Skolkovo Innovation Center. / Vice-President.

Neutral position

The Vice President reiterated that El Salvador remains neutral on these conflicts; El Salvador did not comment on the Russian invasion of Ukraine within the Organization of American States (OAS).

However, in May 2024, El Salvador voted in favor of a resolution at the United Nations recommending reconsideration of Palestine as a member state and allowing Palestine to participate in UN meetings.

Meeting with businessmen

Ulloa held meetings with companies from the Skolkovo Innovation Center, e.g. Siberian BoneFocused on solutions Traumatology for patient rehabilitation; yes NIRI Medicalfocusing on equipment and procedures Mental and emotional states to improve mental health;

The Vice President met with Tatiana Mashkova, Director of the National Commission for Economic Cooperation with Latin American Countries, “who showed interest in establishing contacts with Salvadoran businessmen and the authorities of the Salvadoran Investment and Export Promotion Agency (INVEST),” he said. The Vice President; and with the Director Russia-Latin America Business Center, Vitaly Stepanyshev“He expressed his desire to establish contacts with entrepreneurs in the Salvadoran textile industry, an area of ​​particular interest to Russia,” and to “look more deeply into the issues of digital assets and digital payment systems in El Salvador.”