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EL SALVADOR - Economy

Benjamin Valdez Iraheta

Founder Partner, Benjamin Valdez & Asociados

Bio

Benjamin Valdez Iraheta, born on July 28, 1954, is a Salvadoran lawyer and notary with a Licenciatura in Legal Sciences from Universidad Dr. Jose Matias Delgado and a Master’s in Public International Law from Paris II, Panthéon-Assas. His extensive legal career spans partnerships at Benjamin Valdez y Asociados and Central Law, advisory roles for major corporations like Exxon Mobil, Pricesmart, and AES Corporation, and leadership in pivotal transactions such as the privatization of ANTEL and AES acquisitions. As a public servant, he served as an attaché in France and ministerial advisor in Honduras. A former professor of Public International Law, he has also contributed to Salvadoran legal frameworks, such as drafting the Secured Transactions Law. He is multilingual (Spanish, English, French) and active in cultural and economic initiatives, including UNESCO, FUSADES, and Scotiabank. Currently, he resides in Antiguo Cuscatlán, offering legal expertise across corporate, energy, and financial sectors.

"Starting my career in the context of El Salvador’s challenging times taught me resilience."

TBY talks to Benjamin Valdez Iraheta, Founder Partner of Benjamin Valdez & Asociados, about changes in the company, client requirements, and shaping the country’s business environment.

Could you share your thoughts on the generational transition within your firm and its impact on your legacy?

I bring over 40 years of professional experience to our practice. Two of my three children are lawyers. One works outside the legal field, while the other has been working closely with me, providing a significant advantage for the firm’s continuity. My son’s entry into the firm has been instrumental in ensuring a smooth generational transition. He has established a strong reputation on his own merit, being recognized as a promising young lawyer and earning accolades such as Lawyer of the Year. This organic succession has allowed me to step back gradually. Starting my career in the context of El Salvador’s challenging times taught me resilience. I worked on significant privatization projects in telecommunications, energy distribution, and banking, totaling over USD1 billion. My bilingual and bicultural background made me a valuable partner for international companies entering the Salvadoran market. As I worked on major deals, my son began his career and gained expertise in banking, industrial, and agro-industrial acquisitions. Our firm has remained intentionally small, prioritizing specialized services for a select group of clients. This boutique approach has garnered recognition, such as being named Firm of the Year in Banking and Finance. Long-term client relationships—some exceeding 30 years—are a testament to the trust and service we provide.

Which sectors have been your primary focus, and how have you supported your clients’ growth?

Banking and finance have been at the core of our work. We have handled critical transactions on international stock exchanges, including New York, Panama, Luxembourg, and London. My early experience in international markets helped streamline processes at the El Salvador Stock Exchange, benefiting our clients immensely. In recent years, my son has taken the lead in various areas, including serving on the board of an insurance company we helped acquire. We also represented a Mexican bank in its sale to a Salvadoran group, and we have seen steady demand for our expertise in these areas. In the energy sector, we have supported one of the country’s largest hydrocarbon companies as it shifted from refining to storage operations. We also represent a Guatemalan beverage company expanding its food operations throughout Latin America. Additionally, we are involved in a significant local acquisition of an alcoholic beverage company. What distinguishes us is our personalized approach to client service. For example, we have a long-standing partnership with a beverage company spanning over three decades. Our goal is always to ensure clients feel supported, no matter who handles their case.

How have recent legal changes in El Salvador impacted your firm and clients?

While we have chosen not to participate in public procurement processes to avoid potential confidentiality issues, we have focused on providing value in sectors where our expertise truly matters. One standout example is our work with a real estate client to establish El Salvador’s first data center under the Law for the Promotion of Innovation and Technology. This client is also developing a large-scale free trade zone near the airport called Sky City, which spans 30ha and will support industries such as aviation. Our involvement ensures that clients can navigate regulatory frameworks efficiently while staying ahead of market demands.

What are your objectives for 2025, and how is your firm adapting to technological changes?

Staying ahead of legal and technological developments is a primary objective. We aim to provide solutions even in areas where regulatory frameworks lag behind innovation. For example, we were involved in securitization projects before such laws were formally introduced in El Salvador. To address our clients’ growing need for digital solutions, we have restructured internally and hired a full-time IT specialist. This ensures we can tackle both legal and technological challenges effectively. Looking forward, our focus will remain on supporting key projects in industries such as beverages, food, and infrastructure, particularly the free trade zone near the airport. While no specific new projects are confirmed yet, we are committed to anticipating market demands and delivering innovative, client-focused solutions.

Reflecting on your career, what have been the key moments of transformation?

Starting my legal career during a tumultuous time in El Salvador taught me perseverance. I was fortunate to work on landmark privatization deals in telecommunications, energy, and banking sectors. These transactions were transformative not only for the country but also for my career, helping me build expertise and credibility in international markets. Another turning point was bringing my son into the firm. Watching him succeed and maintain our firm’s reputation has been deeply rewarding. Finally, adapting to the evolving needs of clients has been a constant challenge and opportunity. Whether it is through technology or new legal frameworks, we strive to remain at the forefront, ensuring our clients can navigate changes confidently.

How do you see Benjamin Valdez & Asociados helping to shape El Salvador’s business environment?

We aim to be more than legal advisors; we strive to be partners in our clients’ growth. Our role often extends beyond legal frameworks, offering strategic insights that help businesses thrive. For example, our work in sectors like banking, energy, and real estate not only benefits individual clients but also contributes to broader economic development. As El Salvador continues to grow and attract international investment, we see ourselves as facilitators of that process. Our focus remains on fostering sustainable growth and innovation.

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