The government of El Salvador (GOES) has not been effective in improving its investment climate. In recent years, El Salvador has lagged behind the region in attracting foreign direct investment (FDI), in both absolute terms and as a proportion of GDP. The Salvadoran Central Reserve Bank (“Central Bank”) estimated FDI inflows of less than USD 345 million between January and September 2016, significantly less than the over USD1 billion average for other countries in the region during the same period. Political polarization, cumbersome bureaucracy and regulations, an ineffective judicial system, and widespread violence are barriers to investment in El Salvador.
Monthly Archives: June 2017
Intellectual Property Violations Harm Investment in El Salvador
From: US Department of State | Bureau of Economic and Business Affairs
2017 Investment Climate Statements
Report: June 29, 2017
Executive Summary
Narcotics Trafficking and High Tobacco Taxes: Partners in Promoting Crime
Editor’s Note: Guyana recognizes that it has become a transit “hotspot” for drug traffickers. Increases in tobacco taxes that fuel tobacco trafficking create further organized crime and terrorism synergies.
From: Guyana Chronicle
Higher taxes will fuel illicit cigarette trade
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The senior manager said the illicit economy has seen unprecedented growth and has etched its way into all aspects of society, which is a cause for serious global concern.
The illicit economy affects businesses, governments, civil society and individuals.
Underscoring that illicit trade involves money, goods or value gained from illegal and unethical activities, Agurcia said over the last few year the illicit cigarette trade has grown tremendously.
Is Tacit Cooperation with Organized Crime the Future of Government Tobacco Control?
Editor’s Note: See, WHO Prohibits Sanctions Against Illicit Cigarette Vendors, Key Suppliers of Tobacco to Kids.
From: Global Competition Review
Australia blocks cooperation against illicit tobacco
Malina McLennan
Australia’s competition watchdog has denied three tobacco makers’ request to act collectively with regard to retailers and wholesalers across the country that supply illicit tobacco, expressing uncertainty that the proposed action would be effective or necessary.
Homeland Security, Internal Revenue Service Criminal Investigations and other Federal, State and Local Law Enforcement Bring Cigarette Smugglers to Justice
From: Department of Justice, U.S. Attorney’s Office/Northern District of West Virginia
Two men convicted of cigarette smuggling charge
MARTINSBURG, WEST VIRGINIA – A Virginia business owner and business manager were convicted of unlawful cigarette smuggling, Assistant United States Attorney, Criminal Chief Randolph J. Bernard announced today.
Manjoth Raj Singh, age 32, of Waldorf, Maryland, and Sukhdev Singh Virdi, age 45, of Dacula, Georgia, pled guilty to one count of “Conspiracy to Traffic in Untaxed Cigarettes .” Singh and Virdi admitted to conspiring to profit from the unlawful sale of contraband cigarettes.
Untaxed Cigarette Dealer Threatens Rochester, NY Police Officer with a Shotgun
From: WHAM | Rochester, NY
Rochester Police have charged Robert Herrington, 56, with selling untaxed cigarettes and menacing a police officer following an incident this morning where a Rochester police officer fired three shots after Herrington reached for a weapon while police were conducting a search warrant at his home at 77 Rustic Street.
Police say Herrington pointed a shotgun at an officer as they entered his home.
