Welcome DT News

  • CONTACT
  • ABOUT US
Deythere
  • Home
  • News
    Uber
    NewsCrypto

    Is Uber Quietly Preparing a Global Crypto Shift in Its Operations?

    Uber is examining stablecoin technology to enhance cross-border payment efficiency and reduce…

    By
    Maxwell Mutuma
    June 6, 2025
    Trump Meme Coin Wallet Shuts Down After Sons Slam It with Legal Threats
    NewsCryptoMarket
    Trump Meme Coin Wallet Shuts Down After Sons Slam It with Legal Threats
    June 6, 2025
    Trump Xi phone call
    NewsCrypto
    Trump–Xi Phone Call Eases Trade War Tensions: Crypto Market Watches Closely
    June 6, 2025
    Why BitMine’s $18M Raise Isn’t Just About Mining—It’s About HODLing
    MarketBitcoinCryptoNews
    Why BitMine’s $18M Raise Isn’t Just About Mining, It’s About HODLing
    June 6, 2025
    Will June 6 US Jobs Data Launch Bitcoin to $115K or Slam the Brakes
    NewsBitcoinBlockchainCryptoMarket
    Will June 6 US Jobs Data Launch Bitcoin to $115K or Slam the Brakes
    June 5, 2025
  • Cryptocurrency
    Uber
    Is Uber Quietly Preparing a Global Crypto Shift in Its Operations?
    6 Min Read
    Trump Meme Coin Wallet Shuts Down After Sons Slam It with Legal Threats
    Trump Meme Coin Wallet Shuts Down After Sons Slam It with Legal Threats
    6 Min Read
    Trump Xi phone call
    Trump–Xi Phone Call Eases Trade War Tensions: Crypto Market Watches Closely
    7 Min Read
    Why BitMine’s $18M Raise Isn’t Just About Mining—It’s About HODLing
    Why BitMine’s $18M Raise Isn’t Just About Mining, It’s About HODLing
    6 Min Read
    Will June 6 US Jobs Data Launch Bitcoin to $115K or Slam the Brakes
    Will June 6 US Jobs Data Launch Bitcoin to $115K or Slam the Brakes
    7 Min Read
    Circle’s NYSE Debut Raises $1B Plus Amid Investor Frenzy
    Circle’s NYSE Debut Raises $1B Plus Amid Investor Frenzy
    5 Min Read
    Previous Next
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Reading: Bukele Unveils $1.61B Private Investment in Third Phase of El Salvador’s Economic Transformation Plan
Share

[ccpw id=”7831″]

DeythereDeythere
Font ResizerAa
  • Home
  • Crypto
  • Market
  • News
  • Blockchain
  • Contact
Search
  • Home
  • News
  • Cryptocurrency
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
© DT News. All Rights Reserved.
Deythere > News > News > Bukele Unveils $1.61B Private Investment in Third Phase of El Salvador’s Economic Transformation Plan
News

Bukele Unveils $1.61B Private Investment in Third Phase of El Salvador’s Economic Transformation Plan

Bukele Unveils $1.61B Private Investment in Third Phase of El Salvador's Economic Transformation Plan
Bukele Unveils $1.61B Private Investment in Third Phase of El Salvador's Economic Transformation Plan
Emiliano Trejo
Last updated: August 15, 2024 8:45 am
By
Emiliano Trejo
Published August 15, 2024
5 Min Read
Share

El Salvador is making headlines with its bold move to modernise its port infrastructure. President Nayib Bukele, known for his unconventional approaches, has once again turned to his personal X account to announce a significant step in his economic strategy for El Salvador. 

Contents
The Third Phase: Logistics Takes Centre StageA 50-Year Partnership: Building the Future TogetherRevitalising an Economy Under PressureA Bold Vision for the Future

The Third Phase: Logistics Takes Centre Stage

Dubbed the “Logistics” phase, this new initiative marks the third step in Bukele’s broader economic plan for his second term. It’s not just a plan; it’s a vision to transform El Salvador into a hub of economic activity in Central America. And the cornerstone of this vision? Modernising two of the nation’s most crucial ports: Acajutla and La Union.

Bukele Unveils $1.61 Billion Private Investment in Third Phase of El Salvador's Economic Transformation Plan
Bukele Unveils $1.61 Billion Private Investment in Third Phase of El Salvador’s Economic Transformation Plan

Bukele’s announcement wasn’t just another government statement. It was a declaration of what he described as the largest private investment in El Salvador’s history. The numbers are impressive – a $1.61 billion investment to be precise. This ambitious venture is a joint effort between the Salvadoran government and Yilport Holding, a Turkish port operating company with a global presence. Together, they are setting the stage for a transformation that could redefine El Salvador’s role in international trade.

A 50-Year Partnership: Building the Future Together

This investment is no short-term fix. It’s a 50-year partnership, managed by the Autonomous Executive Port Commission (CEPA), the national institution that will oversee the joint venture. The goal is to ensure that these two ports, which are vital to the country’s economy, are equipped to handle the demands of modern logistics.

The plan is set to roll out in stages, beginning at the end of this year. The first port on the list is Acajutla, where the initial focus will be on improving infrastructure and purchasing new equipment. According to a video posted by Bukele, these upgrades are expected to “immediately reduce port response times.” It’s a move that could make Acajutla more competitive in the region and attract more business to El Salvador’s shores.

But the plans for La Union are even more ambitious. Once considered a potential alternative to the Panama Canal, La Union has been underutilised for years. Bukele’s vision includes reactivating this port with extensive dredging work and the acquisition of new operative equipment. If successful, this could position La Union as a major player in global shipping routes, offering an alternative gateway for goods moving through Central America.

Revitalising an Economy Under Pressure

This port modernisation is more than just an infrastructure project; it’s a key part of Bukele’s strategy to revitalise an economy that has faced significant challenges in recent years. During his first term, El Salvador’s economy struggled with some of the highest inflation rates among dollarised economies. These pressures have only intensified, making it clear that bold measures are needed to turn the tide.

To combat rising costs and support the local population, Bukele has taken steps such as eliminating import duties on over a hundred products for the next decade. He’s also expanded the Farmers’ Markets initiative, a government-sponsored programme that aims to provide Salvadorans with more affordable groceries. These measures are designed to ease the financial burden on households, but the real game-changer could be the new investments in port infrastructure.

Bukele Unveils $1.61 Billion Private Investment in Third Phase of El Salvador's Economic Transformation Plan
Bukele Unveils $1.61 Billion Private Investment in Third Phase of El Salvador’s Economic Transformation Plan

By modernising the ports, Bukele hopes to attract more international trade and investment, creating jobs and boosting economic growth. It’s a strategy that hinges on the idea that better logistics will make El Salvador more competitive on the global stage, drawing in the kind of business that can fuel long-term prosperity.

A Bold Vision for the Future

The success of Bukele’s logistics phase will depend on the ability to execute these projects efficiently and manage the long-term partnership with Yilport Holding. The challenges are real, but so are the potential rewards. If the plan succeeds, it could signal a new era of economic growth for El Salvador, one that positions the country as a key player in international trade. For now, the world will be watching closely as El Salvador embarks on this bold new chapter.

Advertising

For advertising inquiries, please email . [email protected] or Telegram

Solana Is Flirting With $154: Analysts Predict Solana Could Rally 20%

Robinhood Expands European Services, Now Supporting Bitcoin and Crypto Deposits and Withdrawals

Arctic Pablo Coin: ROI Skyrockets 13,451.72%—Don’t Miss Out on the Next Big Crypto Surge! Degen Set to Explode and Andy Innovates

Bitcoin Weathers Market Volatility Analyzing the Resilience in Its Recent Performance

Donald Trump Makes History: First Bitcoin Transaction at PubKey Bitcoin Burger Event

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
ByEmiliano Trejo
Emiliano Trejo has spent the last 9 years immersed in the world of blockchain and cryptocurrencies, becoming a prominent figure in the industry. With a background in economics and a keen interest in decentralized systems, Emiliano has contributed to several groundbreaking projects, including the development of blockchain-based financial products and services. His expertise lies in the intersection of blockchain technology and economic models, where he excels in creating innovative solutions that leverage the benefits of decentralization. At DT NEWS, Emiliano shares his deep knowledge of the global cryptocurrency market, offering insights that help readers understand both the technical and economic implications of blockchain innovations.
Previous Article Ripple Steps Closer to XRP Spot ETF Launch with Bitnomial's Filing to U.S. CFTC Ripple Steps Closer to XRP Spot ETF Launch with Bitnomial’s Filing to U.S. CFTC
Next Article Cleanspark Acquires 26,000 S21 XP Immersion-Cooled Bitcoin Mining Machines Cleanspark Acquires 26,000 S21 XP Immersion-Cooled Bitcoin Mining Machines
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
FacebookLike
XFollow
YoutubeSubscribe
TelegramFollow
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad image
Popular News
crypto 2024
Crypto Derivatives Market Heats Up as Innovative Products Emerge
crypto approval
Blockchain Revolutionizes Energy Markets with Decentralized Trading Platforms
crypto news
Cutting-Edge Mining Technologies Drive Efficiency in Cryptocurrency Production

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Deythere

DT News influence 20 million users and is the number one business blockchain and crypto news network on the planet.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Menu

  • Home
  • News
  • Sitemap
© DT News. All Rights Reserved.
Banner 1
Banner 2
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

  • English