El Salvador: 20% Less Spending on Private Security

©image: JaeYong BAE

The chairman of the Chamber of Commerce and Industry of El Salvador, Jorge Daboub, indicated in an article in Elsalvador.com that businesses were spending about $600 million a year before the economic crisis. Current investment has been reduced to $580 million a year, "this means that companies have had to make adjustments in private security recruitment."

Daboub said that "if a company had guards for merchandise transport and others for building surveillance, what has been done is to reduce personnel in the sense that the guards who were taking care of the facilities are now also guarding transports and only the necessary custodians are left at the company in strategic sites."

Chamber numbers coincide with those of the National Union of Private Security Service Agencies (UNASP). To avoid layoffs of personnel, security companies are cutting costs in other areas.

Source: elsalvador.com

More on this topic

$1.2 Billion: The Cost of Insecurity in El Salvador

January 2010

Costs related to crime in El Salvador top $1.2 billion each year, or 5.4% of the Gross Domestic Product.

The business sector spends $600 million a year hiring private security services, losses for theft reach $300 million, and the state spends an additional $300 million in hospital and emergency costs.

El Salvador Spends Over $2 Billion per Year on Security

July 2010

The statistic includes public and private spending and represents 10.8% of the country's GDP.

Jorge Daboub, president of the El Salvador Chamber of Commerce and Industry, indicated that in the case of private companies the annual cost of security is more than $640 million.

Business rejects changes to arbitration law in El Salvador

June 2008

Salvadorean businessmen fear that a proposed change in the arbitration law might place in danger judicial security and the arrival of investment in their country.

"The deputies take two years to pass a law that encourages economic development of the country and two hours to consider one that's going to ... undermine judicial security," said Jorge Daboub, president of the national Chamber of Commerce.

El Salvador: CCIES Reelects President

February 2010

CCIES, the Salvadoran Industry and Commerce Chamber, elected Jorge Daboub for a consecutive fourth term as president.

At the general assembly of the Chamber, which took place at the Sheraton Presidente Hotel on Thursday, Jorge Daboub, an industrial and trading businessman, was elected again as president.