Which countries does El Salvador want to resemble in terms of prosperity, according to Bukele’s vision? In February 2025, El Salvador hosted a high-profile private event—the “Encuentro Empresarial de Padres e Hijos” (Business Summit of Parents and Children)—at the Presidential House.
The summit brought together some of Latin America’s wealthiest family fortunes and business groups, with combined assets estimated to be 15 times El Salvador’s GDP, as President Nayib Bukele quipped during the event.
The occasion underscored two critical priorities for Bukele’s administration:
- Attracting foreign investment to fuel economic growth.
- Promoting El Salvador as a competitive, business-friendly destination.
Bukele’s Vision
During a Q&A session with 28 Latin American entrepreneurs, Bukele outlined his 20-year vision for El Salvador:
“…we want to build that, to have a country that is attractive, competitive, dynamic; and we want to be that, and in 10 years, we aim to resemble—with better weather and beauty—the United Arab Emirates and Singapore, not Cuba.”
Nayib Bukele.
If you want to hear those words spoken by Bukele with your own ears, we’ve attached the video below. You can find that specific part at minute 33:24.
Why UAE and Singapore?
- Economic Powerhouses: Both nations transformed from modest economies into global hubs of innovation, tourism, and trade.
- Business-Friendly Policies: Low taxes, streamlined regulations, and strategic infrastructure investments.
- Safe Havens for Investors: Political stability and strong rule of law.
Bukele emphasized that El Salvador’s natural advantages—like its Pacific coastline, geothermal energy resources, and growing tech sector—could mirror these models.
The Model to Avoid: Cuba
While acknowledging respect for Cubans, Bukele criticized socialist policies that, in his view, increase poverty rather than reduce it. He argued that centralized control stifles innovation and deters investment—a path El Salvador explicitly rejects.
Key Contrasts:
| El Salvador’s Goal | Cuba’s Reality |
|---|---|
| Open markets, private sector growth | State-controlled economy |
| Foreign investment incentives | Restricted capital flows |
| Tech-driven prosperity | Reliance on outdated systems |
💼 Why Investors Should Take Note
- Bukele’s Track Record: From Bitcoin adoption to AI laws, his policies aim to position El Salvador as a regional innovator.
- Strategic Location: A bridge between North and South America with free trade agreements.
- Upcoming Reforms: Plans to expand tax incentives, modernize infrastructure, and boost renewable energy.
In recent years, El Salvador has significantly improved its energy matrix. In 2024, it was reported that the country produced twice as much electricity as it consumed. Additionally, the energy matrix is expanding, as El Salvador plans to build its first modular nuclear power plant to generate electricity using thorium.
The Bigger Picture:
Bukele’s vision isn’t just about economics—it’s about reshaping El Salvador’s global identity. By blending Singapore’s efficiency, the UAE’s ambition, avoiding socialism and/or socialist policies that have devoured Cuba to this day, the country aims to become a magnet for innovation and capital.
Could El Salvador become Latin America’s next success story? Share your thoughts below!
