Guatemala launches a strategy to attract foreign investment

At the event, the country’s president, Bernardo Arevalo, outlined the reconstruction and expansion of infrastructure, apart from promoting institutional reforms such as competition law.

However, the President said: We realize that there is a lot that can be done by the executive branch, and by the Ministry of Economy specifically, to open more opportunities for growth and development.

The Head of State stressed that this document reflects our commitment to creating a different future for the nation, by generating good job opportunities and environmentally responsible investment.

Arevalo added that the strategy is a shared vision for the well-being and prosperity of Guatemalans and reflects the conviction that we can and must create an environment in which investment becomes an engine for inclusive and equitable development.

We will seek to attract innovation, knowledge, technologies and management systems that will improve work and companies, by making them more productive and competitive, the 65-year-old politician highlighted to various invited parties.

Earlier, Economy President Gabriela Garcia expressed that Guatemala had regained investor confidence thanks to the transparency policy pursued by the current government.

Within the framework of this strategy, the establishment of an agency for attracting national and foreign investments has been advanced, which will be actively dedicated to encouraging investments.

The strategy – as described by Garcia – prioritizes traditional sectors with a successful investment history and that already have commercial dynamics.

These included processed food and beverages, apparel and textiles, business services, call centers, the business process outsourcing sector, and others.

At the same time, the government continues to work to modernize the country’s infrastructure and enhance human capital formation processes, he added.

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He stressed that these efforts are working to improve our competitiveness so that companies representing more developed sectors will invest in the medium term, such as electricity, electronics, health services, biotechnology, medical devices and equipment, and of course tourism.

The strategy also focuses on markets with which Guatemala already has trade relations, supported by 19 investment agreements and 14 free trade agreements, Al Malik said.

Among the main countries mentioned are the United States, Mexico, Colombia, Spain, South Korea, Japan, Taiwan, India, Germany, the Netherlands and the United Kingdom.

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