US Vice President encouraging multinationals to invest in Northern Triangle

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According to Reuters, US Vice President Kamala Harris has reportedly met with senior executives of 12 companies and business groups, as well as with representatives from the World Economic Forum to promote investment opportunities in the Northern Triangle. As part of the Biden Administration’s commitment to help Central America to drive economic growth in order to reduce the push factors of migration to North America, Harris is urging companies to make “new and significant commitments” to boost economic opportunities in the region, according to a White House official who spoke with Reuters anonymously. 

Senior executives from the Microsoft; the Chobani yogurt company; the Nespresso unit of Nestlé; the banks Bancolombia and Davivienda; as well as the Duolingo language learning platform, were among those who reportedly met with the Vice President. The 12 companies are expected to respond positively to the call, with Microsoft already agreeing to expand internet access to up to 3m people in the region by July 2022, and Nespresso planning to source some of its coffee from El Salvador and Honduras, with a minimum regional investment of US$150m by 2025, according to the White House official.

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